Global Deception Technology Market Scenario:
Deception
technology is a set of approaches taken by companies of all sizes against cyber
threats. It can deceive attackers by setting up various traps around a system’s
infrastructure for protecting its assets. The penetration of the internet and
growth in connected ecosystems has led to a spate of attacks from online
criminals have created the need for a hefty security arsenal of devices and
teams to stave them off. The global Deception
Technology Market report compiled by Market Research Future (MRFR) contains
an overview of the industry, various software upgrades and tools, and
estimations for the period of 2016 to 2022 (forecast period). The impact of the
COVID-19 pandemic on the industry has been explored at depth in the report.
The global
deception technology market size is expected to swell to USD 2.3 billion by
2022. It is estimated to gain revenues at 14% of CAGR during the forecast
period.
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The alarming rate
of online threats and cyber attacks is likely to drive market demand. Efforts
by large companies for upgrading their defenses amid the growing adoption of
connected ecosystems and internet of things (IoT). Impersonation of prominent
persons and rise of social engineering techniques for deceiving organizations
are expected to bode well for the global deception technology market.
Incorporation of automated solutions across enterprises in the coming years can
facilitate growth.
Mitigation of
economic risks and raising the defense levels against online attackers is
expected to lead to a plethora of product offerings by security expert
companies. Innovation in cloud security,
dependence on cloud mail services, and data loss prevention policies by
corporations can favor the market significantly. Recently, RevBits attained a
patent for their proprietary software which provides zero-knowledge encryption
of data during transit or rest.
The virtualization
of work environments and operational technology (OT) and identification of
advanced persistent threats (APTs) for protecting sensitive information are
other major growth engines of the market. Development of holistic solutions
amid the growing trend of bring-your-own-devices (BYOD) and remote work can
work in favor of the market.
But lack of
awareness and piracy of security tools can hamper market growth.
Segmentation
By component, it is
divided into solution and service.
By deception stack,
it is segmented into network security, application security, data Security, and
endpoint security.
By deployment type,
it is divided into cloud and on premise.
By end-user, it is
segmented into transportation, manufacturing, BFSI, retail, telecom,
healthcare, government, and others.
Regional
Analysis
The regional
analysis of deception technology market is being studied for region such as
Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
North America is
touted to dominate the global deception technology industry during the forecast
period followed by Europe owing to the major developments in the field of
deception technology in the U.S. and Canada. The large number of software
vendors in the U.S. and Canada are Likely to facilitate the heavy demand as
enterprises embrace automation and digitization of processes.
APAC is likely to
showcase a positive growth rate during the forecast period owing to major companies
having branches in India, South Korea, and China. Strategic partnerships for
development of cybersecurity technologies for endpoint nodes and emails can
drive the regional deception technology market till 2022. Funding by venture
capital firms is likely to bode well for the market.
Competition
Outlook
Attivo Networks,
Allure Security Technology, Illusive Networks, Smokescreen Technologies,
Guardicore, Rapid7, Inc., LogRhythm Inc., TopSpin Security, Cymmetria, Inc.,
TrapX Security, and vArmour are key players of the global deception technology
market.
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