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The North America Ransomware Protection Market would witness market growth of 16.0% CAGR during the forecast period (2022-2028).
The industry is expected to develop as a result of aspects such as the increased use of ransomware-as-a-service (RaaS), more company digitization, and the emergence of cryptocurrencies like Bitcoin. The dearth of knowledge about cyberattacks, the rising cost of innovation, and financial limitations all have an impact on the market's growth. Additionally, a growing market for multi-layer security among businesses and a rise in the usage of cloud-based services have an impact on the market's expansion.
Since most ransom demands now come in the form of cryptocurrencies due to their untraceable nature, like Bitcoin and Etherium, the demand for ransomware prevention solutions has skyrocketed. The market is also impacted by technical advancements, which have led to the introduction of ransomware security tools for mobile devices in addition to PCs.
The most frequent cyber danger facing Canadians is ransomware, and its prevalence is growing. Cybercriminals employ malicious software to encrypt, steal, or delete the data during a ransomware attack, after which they demand a fee to unlock the data. Ransomware can also have serious consequences, including disruptions to essential operations, permanent data loss, theft of intellectual property, invasions of privacy, harm to one's reputation, and high recovery expenses. The significant majority of ransomware instances in Canada could be avoided with simple cyber security procedures.
The US market dominated the North America Ransomware Protection Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12,338.9 million by 2028.The Canada market is poised to grow at a CAGR of 18.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 17.6% during (2022 - 2028).
Based on Vertical, the market is segmented into IT & Telecom, BFSI, Government & Defense, Retail, Education, Healthcare & Life Sciences and Others. Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Endpoint Protection, Network Protection, Database Protection, Web Protection, and Email Protection. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Broadcom, Inc., Bitdefender SRL, FireEye, Inc., SentinelOne, Inc., Kaspersky Lab, Trend Micro, Inc., Sophos Group PLC (Thoma Bravo), Zscaler, Inc., and Malwarebytes, Inc.
By Deployment Type
By Organization Size
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