Deception Technology Market By Component (Solutions, Services), By Deception Stack (Application Security, Data Security, Endpoint Security, Network Security), By Deployment Mode (On-Premise, Cloud), By End-Use Vertical (Energy & Utilities, Government, Healthcare, It & Telecom, Manufacturing, Retail, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The global deception technology market garnered a value of US$ 1.29 Bn in 2018 and is likely to witness noteworthy growth, with a CAGR of 10.9% during the forecast period from 2019 to 2027. In recent years, the world has seen 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. Although these conventional measures are essential in any modern security arsenal, they fail to provide a comprehensive solution against internet threats. As a result, complementary solutions have recently been investigated, aiming to be more proactive in forestalling threats and possibly warn against attacks in their very early stages.

In particular, deception technology has attracted a considerable amount of interest. Deception technology enables organizations to quickly analyze, detect and defend organizational networks against real-time attacks. The technology helps provide accurate information on malicious activities and malware not detected by other types of cyber defense. It is a standalone platform that implements effective set-ups to monitor suspicious events in the attack chain and provides a deep understanding of the attacker's behavior. Increasing occurrences of intense cyber-attacks and data breaches around the world are resulting in the necessity of a tight security infrastructure that would counter and resist such network security breaches. This is one of the major factors driving the growth of the deception technology market.

Market Snapshot

Network Security Segment to Cement its Dominance in Deception Technology Market

In 2018, based on the 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 are supporting the growth of this segment in the overall market. As the internet connection rate exceeds the ability of end-users to secure it properly, 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 are adding to the complex challenge. The 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 2018, North America garnered the largest market share in the deception technology market and was likely to continue with its period of influence during the forecast period from 2019 to 2027. 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, the greater adoption rate of IoT technologies in the region is leading to a rising need for data security. Also, 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 have to adhere to some stringent security policies for the safety of their intellectual property. As these verticals grow, the demand for deception technology is also increasing. This, in turn, is supporting the market's growth in the North American 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 to the clients' needs and sustain their foremost place in the market. New product development, product innovation, and partnerships are some key strategies implemented by the players in the deception technology market.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The deception technology market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global deception technology market based on component, deception stack, deployment mode, end-use vertical, and geography.

Frequently Asked Questiosn:

The market for Deception Technology is expected to reach US$ XX Bn 2027.

The Deception Technology market is expected to see significant CAGR growth over the coming years, at 10.9%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Allure Security Technology, Attivo Networks, Cymmetria, Inc., GuardiCore, Illusive Networks, LogRhythm, Inc., Rapid7, Inc., Shadow Networks are some of the major players in the global market.

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Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60023
Report Format:   PDF
Pages:   120
Rating:    4.3 (69)
Delivery Time: 24 Hours to 48 Hours   
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