By the conclusion of the anticipated period from 2022 to 2030, the deception technology market is anticipated to develop at a rapid CAGR of 13.3% and reach a market value of USD 3,514.16 million.
Numerous deception products, including Identity Deception and Response, Endpoint Deception Net Suit, InsightIDR from Rapid7, Inc., and others, are included in the worldwide deception technology market size. The COVID-19 pandemic is predicted to have a favourable effect on this sector. According to our study, the global deception technology market grew significantly by 12.0% in 2020 compared to the average annual growth over the years 2017 through 2019. The market's growth and demand returning to pre-pandemic levels when the pandemic is finished is what caused the abrupt increase in CAGR.
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Deception technology is a category of cyber security defense mechanisms that provide early warning of potential cyber security attacks and alert organizations of malicious activity. It works by placing decoys, also known as honeypots, across a system's network or databases. When a threat actor attempts to exploit these decoys, it triggers an alert to the organization's IT team, allowing them to respond quickly and prevent the attack from taking place. Deception technology also enables organizations to gather information about attacker behavior and techniques which can be used to further secure their network from attack.
The latest trends in deception technology include the use of automated deception platforms, the increasing adoption of deception-based Intrusion Detection Systems, and the emergence of multi-layer deception solutions. Automated deception platforms provide organizations with the ability to quickly and efficiently deploy deception measures to detect and respond to attacks. Deception-based Intrusion Detection Systems use a variety of techniques, such as honeypots, honeytokens, honeynets, and honeyfiles, to detect malicious activities and alert security teams. Finally, multi-layer deception solutions combine deception technology with other defensive measures to provide an effective defense against sophisticated attackers.
Deception technology is important because it helps to decrease the amount of time attackers spend on a network, expedite the time to detect and remediate threats, reduce the amount of false positives, provide greater coverage across a network, increase business risk awareness, and provide orchestrated responses. Additionally, deception technology can help create a more proactive security posture by providing early warning of potential attacks and alerting security teams of suspicious activity. Finally, deception technology is also important because it provides context for organizations, allowing them to use threat intelligence more effectively.
By constructing decoys of realistic-but-fake assets, including as databases, domains, servers, credentials, files, cookies, apps, and more deployed in the network with genuine assets, deception technology market plays a crucial role in securing the organisation's sensitive data. It may be exceedingly challenging to distinguish between genuine assets and bogus ones. A quiet alarm is sounded and the system is informed of the attacker's intentions when an attacker engages with a decoy. Businesses that use deception solutions can be extremely secure, trustworthy, and safe. The system also has a minimal initial investment need, which contributes to its widespread adoption in small and medium-sized businesses.
The number of cyberattacks on military, state, and municipal government agencies is rising. Attackers are developing new techniques to get beyond traditional network defensive mechanisms, which concentrate on stopping such activity. The employment of a deception platform to defend against cyberattacks on government organisations is widespread around the world.
Regional analysis:
During the projected period, North America is anticipated to lead the deception technology market in terms of revenue.
The region's growth is anticipated to be fueled by the quick development and uptake of innovative technologies and key firms including Attivo Networks, Inc., Rapid7, Inc., Illusive Networks, Inc., Fidelis Cybersecurity, and others.
In the foreseeable future, Asia Pacific is probably going to have the fastest growth rate. Rapid urbanisation, the vast population of the region, and the growing usage of internet of things (IoT) devices and bring your own device (BYOD) technologies inside companies are anticipated to be the major drivers of the Asia Pacific deception technology market growth. Additionally, major market players are concentrating on growing their companies in this
region's rising nations, like Singapore, China, and India, which is expected to accelerate market expansion.
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Market segmentation:
As per the component. Due to the increasing use of deception technology market products in BFSI, government, manufacturing, and other verticals, deception solutions hold the largest market share of these. Professional services and managed services are included in the services section.
The market is divided into application security, data security, endpoint security, and network security categories based on type. Since networks are getting more and more complex as BYOD and loT trends are adopted more widely, network security has a significant market share among these.
By Component:
- Service
- Solution
By Deception Stack:
- Application Security
- Data Security
- Network Security
- Endpoint Security
By Deployment:
- Cloud
- On-Premise
By End-User:
- Manufacturing
- Healthcare
- BFSI
- Transportation
- Government
- Retail
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Key Players:
TrapX Security (United States), Rapid7 Inc. (United States), Attivo Networks (United States), and Allure Security Technology (United States) Guardicore (Israel), Cymmetria Inc. (Israel), TopSin Security (Israel), Smokescreen Technologies (India) Illusive Networks (Israel), LogRhythm Inc. (United States), and vArmour are all companies that are based in either the United States or Israel.
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