Home / Press Release / Global Deception Technology Market to Grow at a CAGR of 10.9% between 2019 and 2027

Global Deception Technology Market to Grow at a CAGR of 10.9% between 2019 and 2027

According to a new market report published by Credence Research, Inc., “Global Deception Technology Market (By Component (Solution and Services), By Deception Stack (Application Security, Data Security, Endpoint Security and Network Security), By Deployment Mode (On-premise and Cloud), By End-use Vertical (Banking, Financial Services & Insurance (BFSI), Energy & Utilities, Government, Healthcare, IT & Telecom, Manufacturing, Retail, and Others)) - Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global deception technology market is expected to witness a growth of 10.9% CAGR during the forecast period from 2019 to 2027. 

Product Insights: 

The global deception technology market accounted for a market size of US$ 1.29 Bn in 2018 and is likely to register a considerable growth, growing at a CAGR of 10.9% during the forecast period from 2019 to 2027. Growing instances of cyber-attacks is augmenting the deception technology market. Deception technology is one unique technology in which an organization can securely witness occurrences reveal. The state-of-the-art deception solutions are responsible for detecting a wide variety of threats and are not reliant on known databases, signatures, pattern matching, or lookups. Immense growth in cyber-related crimes and the threats accompanying them have enforced organizations of all sizes to give more emphasis on the security. By 2021, it is predicted that cybercrime will be costing the world around US$ 6 Tn annually. This reflects the greatest transfer of economic wealth in the history, which risks the incentives for investments as well as innovation.

Cybercrimes have the potential of affecting both the end-users as well as enterprises, inflicting severe reputation and leading to financial, and social damage to the victims. Unfortunately, regardless of the several struggles to raise alertness against such threats, attackers are still capable to intrude their target systems, leveraging multiple attack vectors. With the increase in the occurrences of cyber-attacks, organizations tend to spend more money on security to tackle this problem. Accordingly, rising demand for compact security infrastructure that would help countering and resisting network security breaches is driving the demand for deception technology across the globe.  

On the basis of deception stack, the network security segment accounted for the majority share in the overall deception technology market in 2018. Deception technology provides protectors an exceptional gain against the attackers by doing somewhat additional that other methods of cyber security don’t. It helps providing a precise and timely detection by positioning a minefield of smart decoy systems and content to trip up the attackers. All of this is done within the establishment’s setups and aids as a high-fidelity cautioning system of attacks that have detoured perimeter security controls.  

Furthermore, based on geography, North America represented the largest market for deception technology in 2018. The region is expected to continue with its supremacy in the years to come. With the availability of sufficient infrastructure, higher incidences of cyber-attacks, the presence of several global financial institutions, and increased acceptance of connected technologies are altogether driving the growth of the deception technology market in the region.

Browse the full report at https://www.credenceresearch.com/report/deception-technology-market

The Global Deception Technology Market is Segmented into:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion

 By Component Segment (2017-2027; US$ Bn)

 By Deception Stack Segment (2017-2027; US$ Bn)

 By Deployment Mode Segment (2017 – 2027; US$ Bn)

 By End-use Vertical Segment (2017 – 2027; US$ Bn)

 By Geography Segment (2017-2027; US$ Bn)

*Complete segmentation list is on report page

Competitive Insights:

Major players 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 major players are taking up strategies such as partnerships, product innovation, etc. to have an upper hand in the competitive market surroundings.

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