According to the latest report by IMARC Group, titled “Deception Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global deception technology market reached a value of US$ 1.60 Billion in 2021. Deception technology refers to a cyber security strategy that diverts attackers away from an enterprise’s actual assets to a decoy or trap. It helps detect wide-ranging cyber-attacks, such as account hijacking, zero-days, reconnaissance, spear phishing, lateral movement, and ransomware in real-time. It aims to deceive attackers through virtual and real operating system environments. Deception technology enables a more proactive security posture that detects threats early with low false positives and minimal network performance impact. Deception technology offers greater coverage and orchestrated response, is highly scalable, decreases attacker dwell time, and reduces alert fatigue. It also produces metrics surrounding indicators of compromise (IOCs) and tactics, techniques, and procedures (TTP).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Deception Technology Market Trends
The rising incidences of cyber-attacks and increasing data breaches across enterprises are creating a positive outlook for the market. In line with this, the widespread adoption of the solution in the banking, financial services, and insurance (BFSI), healthcare, and retail industries to detect, report, and mitigate advanced persistent threats (APT), ransomware, malware, and credential thefts is favoring the market growth. Furthermore, the increasing dependence of organizations on emerging technologies, such as the Internet of Things (IoT) and interconnected devices that offer easy access to the network, is providing a considerable boost to the market growth. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) to develop a dynamic deception environment and mitigate the need for constantly creating specialized and standalone deception campaigns is contributing to the market growth. Moreover, the widespread product adoption by several governments to strengthen national security, improve active defense strategy, and gather counterintelligence is providing an impetus to the market growth. Other factors, including increasing adoption of cloud-based technologies, growing utilization of deception technology by small and medium enterprises due to low initial costs, and emerging trends of online shopping and remote working, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 3.83 Billion by 2027, exhibiting a CAGR of 14.40% during 2022-2027.
- On the basis of the deception stack, the market has been divided into data, application, endpoint, and network security.
- Based on the service, the market has been bifurcated into managed and professional services.
- On the basis of the deployment, the market has been classified into cloud based and on-premises.
- Based on the organizational size, the market has been divided into small and medium-sized, and large enterprises.
- On the basis of the end user, the market has been classified into government, medical, BFSI, defense, IT and telecommunication, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.?
- The competitive landscape of the industry has also been examined, with some of the key players being Acalvio Technologies Inc., Allure Security Technology, Attivo Networks, CounterCraft, CyberTrap Software GmbH, Fidelis Cybersecurity Inc., Guardicore Ltd. (Akamai Technologies), Illusive Networks, Logrhythm Inc., Rapid7, Trapx Security Inc. and Zscaler Inc.
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