Ransomware Protection Market Poised to Garner
Maximum Revenues During 2018 & 2026
Ransomware Protection Market study provides key insights about
market drivers, restraints, opportunities, new product launches or
approval, regional outlook, and competitive strategies adopted by the
leading players.
Ransomware protection refers to security against malicious cryptovirology software that
prevents users from accessing their data or threaten to make their private information public
unless a ransom is paid for the same. Utilization of cryptocurrencies such as Bitcoin and Ukash
makes the tracking down of transaction extremely difficult, providing another hurdle for the
anti-cybercriminal bodies to take appropriate actions against them.
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Growing incidence of phishing attacks across the globe fueling growth of ransomware
protection market
Some of the worst incidences of ransomware attacks reported in 2017 included the NotePetya,
WannaCry, Locky, CrySis, and Nemucod. This has led to losses of several million dollars in
revenue. For instance, according to TechRepublic Cybersecurity Insider press release in October
2017, the outbreak of NotPetya cost Merck (pharmaceutical company) over US$ 300 million in
Q3 alone, and is expected to cost near about the same amount in the following quarter.