The Ransomware Protection Market size is estimated at USD 21.20 billion in 2024, and is expected to reach USD 51.73 billion by 2029, growing at a CAGR of 19.53% during the forecast period (2024-2029).
The global ransomware protection market is expanding due to rising company digitization, increased use of ransomware-as-a-service (RaaS), and the introduction of cryptocurrencies like Bitcoin. However, a lack of knowledge about cyberattacks and financial limitations limit business expansion. On the other hand, new opportunities will arise as enterprises seek more multi-layer security protection and cloud-based services are used more widely.
The ransomware protection market consists of several players. In terms of market share, few of the players currently dominate the market. These major players with a prominent share of the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.
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