Overview:
The global deception technology market garnered a value of US$ 1.74 Bn in 2021 and is likely to witness noteworthy growth, with a CAGR of 10.9% during the forecast period from 2023 to 2030. In recent years, the world has witnessed a surge in advanced cyber-attacks. These attacks are increasing at a rapid pace both in number and complexity. To thwart the vicious trend of suspicious activities and cyber-attacks, the security community has developed and proposed numerous solutions to enhance the security of networks and information systems across several end-use verticals.
The solutions that are used presently cover all traditional aspects of security, including system hardening, intrusion prevention, advanced attack mitigation, and detection. These conventional measures, although are essential in any modern security arsenal, but fail to provide a comprehensive solution against internet threats. As a result, recently, complementary solutions have been investigated, with an aim to be more proactive in forestalling threats and possibly warn against attacks in their very early stages.
In particular, deception technology have attracted a considerable amount of interest. Deception technology enables the organizations to quickly analyze, detect and defend organizational networks against real-time attacks. The technology helps in providing accurate information on malicious activities and malware that are not detected by other types of cyber defense. It is a standalone platform that implements effective set-ups to monitor the suspicious events in the attack chain, and provides deep understanding about the attacker’s behavior. Increasing occurrences of intense cyber-attacks and data breaches around the world are resulting in the necessity of a compact security infrastructure which would counter and resist such network security breaches. This is one of the major factor that is driving the growth of the overall deception technology market.
Network Security Segment to Cement its Dominance in Deception Technology Market
In 2021, based on deception stack, the network security segment led the market and is expected to grow at a substantial rate in the years to come. Rising occurrences of cyber-attacks coupled with an immense requirement to protect the network from these attacks is supporting the growth of this segment in the overall market. As the rate of internet connection is outpacing the ability of end-users to properly secure it, the amount of trouble in defending the network from cyber-attacks is also developing in proportion to a number of factors. Emerging threat actors, the prominence of interconnected devices and the rising need for securing the network is adding to the complex challenge. Addition of deception technology provides the protectors an offense-based benefit and a competency to reliably detect the attackers once they get inside the network.
North America is the Front-Runner in the Overall Deception Technology Market
In 2021, North America garnered the largest market share in the deception technology market and is likely to continue with its period of influence during the forecast period from 2023 to 2030. In the recent past, the adoption of deception technology in North America has become stronger and higher in comparison to other regions as there is a higher demand for control, prevention and protection systems against cybercrimes. Additionally, greater adoption rate of IoT technologies in the region is leading to a rising need for data security. Also, with the incessant number of data centers in North America owing to the several R&D activities is allowing the deception technology market to grow at a significant pace. Moreover, the various end-use verticals in the region has to adhere to some stringent security policies for safety of their intellectual property, and as these verticals grows, the demand for deception technology is also increasing. This, in turn is supporting the growth of the market in the North America region.
Competitive Insights
The major players identified in the deception technology market include Allure Security Technology, Attivo Networks, Cymmetria, Inc., GuardiCore, Illusive Networks, LogRhythm, Inc., Rapid7, Inc., Shadow Networks, Smokescreen Technologies, TopSpin Security, TrapX Security, and vArmour among others. The players in the deception technology market are incessantly focusing on growing their reach and reinforcing their product offerings to cater the needs of the clients and also to sustain their foremost place in the market. New product development, product innovation and partnerships are some of the key strategies implemented by the players in the deception technology market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Deception Technology market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Component
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Deception Stack
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Deployment Mode
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End-use Vertical
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
