Ransomware Protection is one of the most effective and reliable ways to prevent the computer from being infected with any form of malware. This is a new version of malware that has been recently released to the public. Cyber-security has become quite imperative in any business where an internet connection is required. Have adequate protection from cyber-attacks is crucial for the integrity of any organization. With rising phishing attacks and targeted security breaches, the adoption of ransomware protection has increased significantly. As per the Federal Bureau of Investigation (FBI), the phishing attack cases increased from 114,702 in 2019 to 241,324 in 2020. Furthermore, as per the IBM and Ponemon Institute Cost of a Data Breach report 2020, around 52% of data breaches among organizations were caused by malicious outsiders. Ransomware protection can aid in thwarting these attacks, which can potentially accelerate the growth of the ransomware protection market.
Ransomware is a form of malware that enters the computer without permission and demands money in exchange for deleting or repairing the system files. Since most people have computers at their home, office, or both, it is not surprising that so many people would get infected with this type of malware. In the recent past, the ransomware-as-a-service (RaaS) model has emerged as an innovative solution for the protection against malicious cyber-attacks. Many cyber-security solution providers are offering the RaaS model since it can help people without much technical knowledge. Thus, these factors can stimulate the growth of the ransomware protection market.
The Ransomware Protection software offers two distinct components. The first of which is known as the Endpoint Protection Platform. The Endpoint Protection Platform is a web-based application that scans computers for identified malware. Despite all these advantages, the lack of awareness among security professionals about new ransomware families remains one of the key challenges in the market. Besides, there are available free endpoint security solutions for ransomware protection, which could potentially impede the growth of the ransomware protection market shortly.