SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Deception Technology – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 469
Companies: 34 – Players covered include Acalvio Technologies, Inc; Allure Security Technology, Inc; Attivo Networks, Inc; CounterCraft SL; CYBERTRAP Software GmbH; Cymmetria, Inc; Cysiv; Fidelis Cybersecurity Inc; Fortinet, Inc; Guardicore Ltd; Illusive Networks; Rapid7, Inc; Ridgeback Network Defense Inc; Sandvine; Smokescreen Technologies; Trapx Security; Varmour and Others.
Coverage: All major geographies and key segments
Segments: Component (Solutions, Services); Deception Stack (Network Security, Application Security, Data Security, Endpoint Security); Deployment (On-Premise, Cloud); Vertical (BFSI, IT & Telecom, Government, Retail, Energy & Utilities, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Global Deception Technology Market to Reach $4.2 Billion by 2026
Deception technology is a new and upcoming cybersecurity platform that seeks to prevent damage from cybercriminals, who have already infiltrated a network. By creating decoys and traps that imitate legitimate technology assets across the infrastructure, deception technology strives to deviate cybercriminals’ motives and programs aimed at stealing credentials and privileges. Notifications are sent to a centralized deception server, immediately after a trap is triggered, following which the affected decoy and the attack vectors employed by the cybercriminal are recorded. The approach is intended to create a false perception regarding the attack for the cyber criminal. In addition, the approach works for both automated and human attackers and offers same advantage of detecting insider, supplier or external threats. Deception technology relies on diversionary measures for redirecting the normal activity from organizational assets towards fake assets intended for defense. By creating a deceptive environment for the cyber criminal, the technology reduces the risk and improves the security. The concept of deception involves the use of honey pots and lures that are intended to attract cyber criminals. The strategy is to create a false sense of perception for cyber attackers that they have successfully invaded organizational network or infrastructure for accessing business-critical information or assets.
Amid the COVID-19 crisis, the global market for Deception Technology estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$4.2 Billion by 2026, growing at a CAGR of 13.7% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to record 12.4% CAGR and reach US$2.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 15.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $244.4 Million by 2026
The Deception Technology market in the U.S. is estimated at US$1.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$244.4 Million by the year 2026 trailing a CAGR of 15.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.2% and 13.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.3% CAGR.
The global market is anticipated to exhibit incremental growth through the analysis period, owing to increasing frequency of cyber attacks and the pressing need for sophisticated technologies for efficiently dealing with security issues. The increasing dependence of organizations on emerging technologies such as IoT along with growing penetration of connected devices are creating several vulnerabilities that drive cyber criminals to target enterprise networks. While companies make consistent efforts to prevent evolving attacks, cyber criminals are using sophisticated tools and methods for finding new ways to ensure security breaches and reach business-critical assets. In addition, advanced cyber attacks recognize contextual environment as well as employ indictors within target systems for dynamically changing the attack strategy, which is relevant for both human and automated attacks. The issue requires organizations to implement deception technology for adjusting the contextual environment for better defense.
Organizations are increasingly incorporating deception technology to secure systems against cyber attacks such as malware. The approach tracks any intruder present in the organizational network, assisting administrators in analyzing and reporting the issue. The market growth is stimulated to rising incident of cyber attacks including zero day attacks, malwares, sophisticated persistent threats and distributed denial of service. These threats are driving governments and organizations to invest in deception technology to protect their networks and data centers. Global demand for the technology is also attributed to its numerous merits over traditional security tools that flag up anomalies, but are unable to properly define their risk potential and impact. Alerts generated by standard tools are required to be investigated by administrators, including those that are false alarms, which lead to unnecessary spending of resources. On the other hand, administrators sometimes miss out potential and real threats. Deception technology alters an attack’s asymmetry to help security teams in focusing on real threats. The technology plays an important role in thwarting attacks and curbing potential losses.
The ongoing COVID-19 pandemic and its impact on virtual workforce and work-from-home (WFH) models is poised to flare up opportunities for deception software in the immediate term. With lockdowns and social distancing becoming the norm in several parts of the world, and with growing corporate emphasis on ‘stay home, stay safe’ approach, the virtual workforce volume grew substantially during the past few months, while necessitating the enterprises to augment their cybersecurity platforms. The deception technology market is also gaining from government regulations, rising volumes of digital and online data, and increasing adoption of cloud-based technologies. More
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SOURCE Global Industry Analysts, Inc.