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(Hosting-NewsWire.com, June 25, 2020 ) Market Overview
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• The Global Deception Technology Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
• Deception technology is an emerging category of cybersecurity defense. Deception technology products can detect, analyze, and defend against zero-day and advanced attacks, often in real-time. They are automated, accurate, and provide insight into malicious activity within internal networks which may be unseen by other types of cyber defense. Deception technology enables a more proactive security posture by seeking to deceive the attackers, detect them and then defeat them, allowing the enterprise to return to normal operations.
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• An increase in the adoption of IoT and BYOD trends within enterprises and the rise of APTs (Advanced Persistent Threats) and zero-day attacks are the key factors for the deception technology market growth worldwide. BYOD and IoT are two popular trends in the IT industry that are very closely aligned and speak the drastic shift that is taking place in the industry. The Internet of Things (IoT) is undeniably transforming the way that organizations communicate and organize everyday businesses and industrial procedures. Its adoption has proven well suited for sectors that manage a large number of assets and coordinate complex and distributed processes.
• Many specialized tools exist to provide organizational cybersecurity; it can become complicated to leverage all these tools at once. Examples include SIEMs, user behavior analytics, e-mail protection platforms, endpoint detection, response technology and especially deception technologies. Companies are launching and releasing the next generation of deception solutions. For instance, Attivo Networks® has announced the release of its ThreatDefend™ Platform, representing the next generation of distributed deception solutions in July 2017.
• The rise in the adoption of cloud computing and virtual environments and lack of technical expertise among organizations are the key restraints hindering the growth of the market.
• By component, the deception technology market is segmented into solutions and services. Services are further divided into professional services and managed services. The global deception technology market size by solutions was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By deployment mode, the deception technology market is segmented into on-premises and cloud. The global deception technology market size by the cloud was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By organization size, the deception technology market is segmented into large enterprises and small & medium enterprises. The global deception technology market size by large enterprises was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By deception stack, the deception technology market is segmented into endpoint security, network security, application security, and data security. The global deception technology market size by network security was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By the end-user, the deception technology market is segmented into manufacturing, BFSI, telecom & IT, healthcare, government, retail, energy & utilities and others. Others include defense. The global deception technology market size by healthcare was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Deception technology logs from within the medical device network. Deception technology is one of the more popular technologies being rapidly adopted by healthcare organizations of all sizes.
• The National Institute of Standards and Technology (NIST) in particular prescribes a number of key risk management standards of which those in the medical device industry must be aware. Health care organizations perform critical functions for the health care and public health (HPH) sector. These organizations include critical access hospitals in rural areas, practice management organizations that support physician practices, revenue cycle or billing organizations, mid-sized device manufacturers, and group practices.
Market Geographical Analysis
• The North America deception technology market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. North America is dominating the global deception technology market in 2018 and estimated to hold the largest market size in the forecast period due to the broad execution of security policies to prevent cyber threats by the local government bodies. Adding to this, the existence of a large number of security vendors in North America especially in the USA and Canada is also the vital reason for the market growth.
• Nations are combining to develop security systems globally especially in North America. For instance, Israel’s Morphisec and U.S. Shape Security are developing “polymorphic” systems. The US-based company, TrapX Security offers DeceptionGrid, a technology using fake information that triggers a security alert. TrapX clients include Israel’s central bank, U.S. hospital chain HCA, Bezeq, Israel’s largest telecoms group, and Union Bank of Israel.
Market Competitive Analysis
• The Deception Technology market is competitive with existing players in the market.
• Some of the major players include CyberTrap Software GmbH, Smokescreen Technologies, Deceptive Bytes Ltd, Cymmetria Inc., Topspin Security, Acalvio Technologies Inc, Fidelis Cybersecurity Inc, Illusive Networks Ltd, Rapid7, Inc., and Varmour.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Deception Technology Market.
• In April 2019, Illusive Networks, an Israel based company has launched a turn-key solution that offers security teams with the capability to visualize, quickly discover, and remove a variety of high-risk cached credential and connection information.
• In May 2019, TRAPX Security has launched a version 6.3 of its Deception Grid platform. It has some groundbreaking technologies, like build your own trap, hacker tracker and artificial users.
• In July 2017, Attivo Networks® has announced the release of its ThreatDefend™ Platform, representing the next generation of distributed deception solutions.
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