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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