Deception Technology Market Overview:
The Deception Technology industry is projected to grow from USD 1.68 Billion in 2022 to USD 4.62 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.51% during the forecast period (2022 - 2030).
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Key Players:
- TrapX Security (United States)
- Rapid7 Inc. (United States)
- Attivo Networks (United States)
- Allure Security Technology (United States)
- Guardicore (Israel)
- Cymmetria Inc. (Israel)
- TopSin Security (Israel)
- Smokescreen Technologies (India)
- Illusive Networks (Israel)
- LogRhythm Inc. (United States)
- vArmour
are all companies that are based in either the United States or Israel.
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 market size. The COVID-19 pandemic is predicted to have a favourable effect on this sector. According to our study, the global 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.
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 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 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 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.
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