The report titled “Deception Technology Market” has recently added by MarketInsightsReports to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
The deception technology market was valued at USD 1335.5 million in 2020, and it is expected to reach USD 2814.16 million by 2026, registering a CAGR of 13.3% over the forecast period, 2021 – 2026.
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Top Companies in the Global Deception Technology Market: – Illusive Networks Ltd, TrapX Security Inc., Smokescreen Technologies Pvt. Ltd, Attivo Networks Inc., Rapid7 LLC, Ridgeback Network Defense Inc., GuardiCore Ltd, Acalvio Technologies Inc., CounterCraft SL, CyberTrap Software GmbH, Fidelis Cybersecurity Inc. (Skyview Capital LLC), LogRhythm Inc., WatchGuard Technologies Inc., Nippon Telegraph and Telephone Corporation (NTT Security Limited), Broadcom Inc. (Symantec Corporation)
Industry News and Developments:
– March 2020 – Attivo Networks and Seminole State College of Florida announced a joint initiative aimed at closing the global cybersecurity skills gap. Beginning Fall 2020, Seminole State College would be among the first institutions of higher education in the United States to incorporate threat deception instruction into the cybersecurity specialization component of its associate and bachelor’s degree programs in Information Systems Technology.
– February 2020 – GuardiCore announced several new capabilities in its Guardicore Centra Security Platform designed to help security architects visualize, segment, and protect cloud-native applications, while further simplifying the process for reducing risk to mission-critical business applications through segmentation. The company expanded its Centra Security Platform.
– Owing to the higher level of cyber threats, there has been an increasing need from the organizations to detect and mitigate advanced risks that have already breached the network. This has been boosting the adoption of deception technology.
– The current security tools have been effective at flagging up anomalies but are not significant at defining their impact and risk potential. These tools result in the generation of many alerts, most of which are needed to be investigated by security teams despite many of them being a waste of time. The resources are spent wastefully assessing these false threats, while the real and present threats can be missed out. By altering the asymmetry of an attack, deception technology helps the security teams to focus on real threats to the network. The scenarios like these have been aiding the deception technology to gain momentum over the past five years.
Key Market Trends
Government Sector to Witness Significant Market Growth
– Deception technology offers government entities the foundation for an active defense that provides early and accurate detection of in-network threats and the ability to respond to them quickly and decisively. Recognizing the importance of deploying deception to protect critical information, the National Institute of Standards and Technology has included it in drafts of SP 800-160 and 800-171b.
– The rise of advanced persistent threat (APT) attacks in government is expected to create opportunities for the market studied over the forecast period. For instance, a prominent attack was code-named, Deep Panda, and compromised over 4 million US personnel records, which may have included details about secret service staff. Deep Panda is an APT attack against the US Government’s Office of Personnel Management, probably originating from China.
North America Occupies the Largest Market Share
– North America is the largest region for the deception technologies, as the region has a high demand for protection and control systems against cybercrimes. Also, the region has the highest adoption rate of IoT technologies, leading to a growing need for data security.
– The major trends responsible for the growth of deception technology in the North American region include the growing number of smartphone devices and an increase in the adoption of social apps, which generate ample data that contain valuable information. This has significantly increased the risk of cyber threats.
– The cyberattacks in the United States have increased dramatically over the past few years. For instance, in March 2020, the US Health and Human Services Department suffered a cyber-attack on its computer system, part of what people familiar with the incident called a campaign of disruption and disinformation that was aimed at undermining the response to the coronavirus pandemic and may have been the work of a foreign actor.
Furthermore, to broaden the understanding, researchers have studied the global Deception Technology market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.
Deception Technology Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.
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Following are major Table of Content of Deception Technology Industry:
- Deception Technology Market Sales Overview.
- Deception Technology Market Sales Competition by Manufacturers.
- Deception Technology Market Sales Analysis by Region.
- Deception Technology Market Sales Analysis by Type.
- Deception Technology Market Analysis by Application.
- Deception Technology Market -Manufacturers Analysis.
Reasons to Invest:
- Market Size Forecasts: The authors of the report have provided accurate estimation of the global Deception Technology market size based on value and volume
- Market Trend Analysis: This section of the report throws light on the approaching trends and developments in the global Deception Technology market
- Future Prospects: The report here offers crucial information on the rewarding opportunities in the global Deception Technology market
This allows an understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences and the vendor landscape of the overall market.
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