Cryptojacking is a method that enables the unauthorized access of someone else’s devices. Cryptojacking solution prevents cryptojacking from being downloaded and spreading throughout the network. There are multiple ways of Cryptojacking; one way is by using malicious emails having a link or an attachment that installs crypto mining code on a victim’s computer.
Global Cryptojacking Solution Market – Dynamics
Rising Adoption of Cryptocurrency Driving Cryptojacking Solution Market
Adoption and trade of cryptocurrency across the globe is increasing at an exponential rate. Bitcoin was the first cryptocurrency that was created in year 2009. By the end of 2019, approximately 2,995 different types of cryptocurrency are known to exist. The growth median of Bitcoin between 2010 and 2020 was approximately 181.78% annually. Risk of cyber-attack has also increased, which has fueled the adoption of cryptojacking for cyber theft. Consequently, the adoption of cryptojacking solution Market has increased across the globe to mitigate the risk of cyber-attack and theft.
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Lack of Awareness about Crypto Solution Hampering Cloud-enabled Technologies
The lack of awareness about cyber safety is also very high. Knowledge about crypto jacking solutions is comparatively low among some countries of North America and Europe. Level of awareness and global regulation on crypto currency is hampering the market.
North America to Dominate Global Cryptojacking Solution Market
In terms of region, the global cryptojacking solution market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the cryptojacking solution market, as the adoption, trade, and security awareness about crypto currency in the U.S. is comparatively high as compared to that in other regions.
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COVID-19 Impact on Global Cryptojacking Solution Market
The COVID-19 pandemic is expected to moderately impact the financial markets across the globe. According to CoinMarketCap, during the pandemic, the total market value of digital currency fell from US$ 308 billion in February to less than US$ 118 billion by March, 2020. According to CipherTrace, a Crypto intelligence company, losses due to cryptocurrency thefts, hacks, and frauds soared to nearly $1.4 billion from the beginning of 2020.
Global Cryptojacking Solution Market – Competition Landscape
- In June 2020, Intel and BlackBerry entered into a partnership to Stop Cryptojacking Malware. BlackBerry Optics Context Analysis Engine (CAE) leverages unique CPU telemetry from Intel Threat Detection Technology (Intel TDT) to provide enterprises and SMBs unparalleled detection of cryptojacking attempts.
Global Cryptojacking Solution Market: Segmentation
The global cryptojacking solution market can be segmented based on:
- Component
- Enterprise Size
- Industry
- Region