The rise of advanced persistent threats (APTs) and zero-day attacks is expected to fuel future expansion in the worldwide deception technology market
Covid-19 Impact & Market Status
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries. As a result of the outbreak, the global food and beverage industry is one of the major businesses experiencing substantial disruptions such as supply chain disruptions, technology event cancellations, and office closures. With the presence of and the largest raw material suppliers, China is the global industrial powerhouse. The overall market breakdown due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
Over the previous 18 months, almost every industry in the world has suffered a setback. This can be ascribed to severe delays in their particular production and supply-chain operations as a result of various preventive lockdowns and other limitations imposed by governments all over the world. The global Deception Technology market is no exception. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenditures from their budgets since the overall economic situation of most people has been badly impacted by the outbreak. Over the forecast period, the mentioned factors are likely to weigh on the worldwide Deception Technology market's revenue potential. The global Deception Technology market is likely to revive as various regulatory authorities start to relax these enforced lockdowns.
Deception technology provides the foundation for an active defence that detects in-network threats early and accurately, allowing government entities to respond fast and decisively. The National Institute of Standards and Technology has included deception in draughts of SP 800-160 and 800-171b, recognizing its usefulness in protecting important information.
This research report offers a detailed market outlook of the global deception technology market depending upon the current economic situation and developments in the deployment, organization size, service, deception stack and regional segments.
It does a deep analysis of the impact of covid-19 on the market and recovery strategies applied by market players to restore the growth trends and maintain market competitiveness. The in-depth insights documented in the report enable well-informed investment decisions by for the new payers, aspirants, and also the well-established ones in the global deception technology market.
Cloud Deception Technology Deployment to Emerge as the Most Lucrative Segment
Global deception technology market is classified into cloud and on-premise deployment segments. Among these, the cloud type deception technology is poised for substantial market growth in the years ahead. Over the projection period, the deception technology market is likely to be driven by tough government regulations, the expansion of cloud-based technology services, and the omnipresence of digital and online data. The use of deception technology by a variety of user groups throughout the world is encouraging the usage of cloud deception technology, which is projected to drive segment growth in the coming years.
Small and Medium Enterprise Deception Technology Organization Size to Ensure Revenue Maximization
Global deception technology market is classified as small and medium enterprise, and large enterprise organization size applications. among these, the small and medium enterprise deception technology organization size segment is poised for substantial market growth in the years ahead. Because of the growing use of surveillance, identification, and access applications, as well as growing cybersecurity concerns among businesses, deception technology has seen a strong increase in recent years. To prevent organisational security breaches, secure the perimeter, data security, content protection and controls, maintain privacy, IP, and APIs, among other criteria, businesses are increasing their investment on security solutions. Since then, the use of deception technology has increased in both SMEs and large corporations in recent years.
BFSI Deception Technology End User to Emerge as the Most Lucrative Segment
Global deception technology market is classified into government, medical, BFSI, defense, IT and telecommunication, other, end user segments. Among these, the cloud type deception technology is poised for substantial market growth in the years ahead. The increased threat of cyber-attacks on banks and other financial institutions can be attributed to these causes.
Backed by Immense Development Potential North America Deception Technology Market to Sail Ahead
Performance analysis of global deception technology market based on regional segmentation states that North America is the most mature market for deception technology adoption and investments. The region is likely to garner maximum revenue share of global deception technology market in the years ahead, mostly from 2021 to 2028.
This is evident from rapid investments in new digital technologies, shift in user preferences, applications in various industry verticals such as gaming, network security, application security media, and endpoint security across leading countries in the region such as Canada and United States.
Additionally, technological advancements due to various research and developments initiatives, the presence of tech giants, commercial mergers and partnerships, expansions of the leading companies in regional and global market are improving the growth feasibility of global deception technology market in North America.
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. With the availability of adequate infrastructure, the presence of numerous global financial institutions, high frequency of cyberattacks, and increased adoption of connected technologies are expected to drive the growth of the deception technology market in the North American region.
In the deception technology industry, the integration of deception technology in virtual environments will operate as a business opportunity
Growing occurrences of data breaches and severe cyber-attacks around the world are driving market expansion, demanding a compact security infrastructure that can withstand and, if possible, fight such network security breaches. The desire for misleading security technologies for continuous safe communication is boosting the demand for data security in data-sensitive industries such as banking, insurance, and technology. Furthermore, over the projection period, rigorous government regulations, the expansion of cloud-based technology services, and the omnipresence of digital and online data are projected to drive the deception technology market.
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries.
These are some key factors bringing thumping growth of global deception technology market, ensuring market size growth of approximately 3,624.16 USD million by 2028 at a CAGR of 13.3% from 2021 to 2028.
Deception technology is a stand-alone platform that employs an effective trap to detect suspicious activity along the attack chain and provides a comprehensive picture of the attacker's actions. Over the forecasted years, this is likely to drive the Deception Technology Market. In addition, the market is expected to grow in the next years due to the overall reduced risk of data loss and the quick and efficient identification of malware. Additionally, the platform defends networks, endpoints, and devices from a variety of sophisticated hackers, APTs, malicious assaults, and ransomware. During the foreseeable period, this is expected to fuel the market. This market has an opportunity for the creation and deployment of decoys relevant to organisational assets.
APTs are a type of targeted network assault in which an unauthorised person gets control of a company's network infrastructure, remains unnoticed within it, and steals large amounts of sensitive data. Cyber-attacks are growing more complex and widespread as their sophistication level rises. Malware, SQL injection, spyware, phishing, and spam are among the techniques used by APTs to gain access to network infrastructure. Titan Rain, Sykipot Assaults, GhostNet, Stuxnet Worm, and Deep Panda are some of the most notable known APT attacks.
Multiple reasons, however, are likely to stymie widespread usage of legacy honeypots. Lack of security knowledge, increased usage of pirated network security products, and a scarcity of cyber experience are expected to be factors limiting the sector's growth. Furthermore, the production and deployment of decoys that are relevant to organisational assets are some of the obstacles impeding the global deception technology market's growth. Nonetheless, the global deception technology industry is benefiting from the integration of deception technology in virtual environments.
The major players of the global deception technology market are llusive Networks, TRAPX SECURITY, Smokescreen Technologies, Attivo Networks Inc., Rapid7 LLC, Ridgeback Network Defense Inc., GuardiCore, Acalvio Technologies Inc., CounterCraft, Percipient Networks, CyberTrap Software GmbH, Fidelis Cybersecurity, LogRhythm Inc., WatchGuard Technologies Inc., NTT Security.
Among all other established and emerging companies and investors. These market players are spread across the world and are aggressive in developing new technologies to lead the market and improve revenue growth. Furthermore, the market players to stay ahead of the competitive landscape are unravelling strategic initiatives like mergers and acquisitions, new product portfolios, and technological innovations.
Latest Innovations in the Global Deception Technology Market: Snapshot
- Deception technology provides the foundation for an active defence that detects in-network threats early and accurately, allowing government entities to respond fast and decisively. The National Institute of Standards and Technology has included deception in draughts of SP 800-160 and 800-171b, recognizing its usefulness in protecting important information.
- Over the projection period, the rise of advanced persistent threat (APT) attacks in government is expected to generate possibilities for the market analyzed. For example, a well-known hack known as Deep Panda exposed over 4 million US personnel records, which could have included information regarding secret service employees. Deep Panda is an APT attack on the Office of Personnel Management of the United States government, most likely launched from China.
- Over the projected timeframe, growing government or associated regulatory body investments to further avoid the cybercrime invasion are anticipated to enhance the deployment of deception technologies. The National Cybercrime Program of the NPCC announced a multi-million-pound investment from the UK government in April 2019, stating that every police department in England and Wales would have a designated cybercrime division.
Deception Technology Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||3,624.16 USD million|
|Growth Rate||CAGR of 13.3% during 2021-2028|
|Segment Covered||Deployment, Organization Size, Service, Deception Stack, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||llusive Networks, TRAPX SECURITY, Smokescreen Technologies, Attivo Networks Inc., Rapid7 LLC, Ridgeback Network Defense Inc., GuardiCore, Acalvio Technologies Inc., CounterCraft, Percipient Networks, CyberTrap Software GmbH, Fidelis Cybersecurity, LogRhythm Inc., WatchGuard Technologies Inc., NTT Security.|
Key Segments of the Global Deception Technology Market
Deployment Overview, 2018-2028 (USD Million)
Organization Size Overview, 2018-2028 (USD Million)
- Small and Medium Enterprise
- Large Enterprise
Service Overview, 2018-2028 (USD Million)
- Managed Services
- Professional Services
Deception Stack Overview, 2018-2028 (USD Million)
- Data Security
- Deception Stack Security
- Endpoint Security
- Network Security
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa