Global Deception Technology Market to Reach $4.2 Billion by 2026

Edition: 7; Approved: 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; Sand vine; Smoke control technologies; Trapx security; Varmor and others.
Cover: All major regions and key segments
Segments: Component (solutions, services); Deception pile (network security, application security, data security, endpoint security); Provision (on-premise, cloud); Vertical (BFSI, IT & Telecom, Government, Retail, Energy & Utilities, Other Industries)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UNITED KINGDOM; the rest of Europe; Asia Pacific; Rest of the world.

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Reaching Global Deception Technology Market $ 4.2 billion by 2026
Deception technology is a new and upcoming cybersecurity platform that aims to prevent damage from cyber criminals who have already infiltrated a network. By creating lures and traps that mimick legitimate technology resources throughout the infrastructure, deception technology seeks to distract the motives and programs of cyber criminals aimed at stealing credentials and privileges. Immediately after a trap is triggered, notifications are sent to a central deception server, whereupon the affected decoy and the attack vectors of the cybercriminal are recorded. The approach is intended to create a false perception of the attack for the cybercriminal. Additionally, the approach works for both automated and human attackers and offers the same benefit in detecting insider, supplier or external threats. Deception technology relies on diversionary measures to redirect normal activity from organizational assets to counterfeit assets for defense. By creating a fraudulent environment for cyber criminals, the technology reduces risk and improves security. The concept of deception involves the use of honey pots and bait designed to attract cyber criminals. The strategy is to give cyber attackers the false impression that they have successfully broken into a company’s network or infrastructure to access business-critical information or assets.

In the midst of the COVID-19 crisis, the global market for deception technology is on the rise. estimated $ 1.9 billion in 2020 is expected to reach a revised size of $ 4.2 billion until 2026 with a CAGR of 13.7% in the analysis period. Solutions, one of the segments analyzed in the report, is expected to have 12.4% CAGR and reach $ 2.7 billion until the end of the analysis period. After a thorough analysis of the business impact of the pandemic and the economic crisis caused, growth in the Services segment will be adjusted to a revised CAGR of 15.7% for the next 7-year period.

The US market is estimated at $ 1.1 billion in 2021, while China is expected to reach $ 244.4 million by 2026
The US market for deception technology is estimated at $ 1.1 billion in 2021. China, the second largest economy in the world, is expected to reach a market size of $ 244.4 million by 2026 with a CAGR of 15.5% in the analysis period. Other notable geographic markets include Japan and Canadawho forecast growth of 12.2% and 13.4% respectively in the analysis period. Inside Europe, Germany is forecast to grow about 13.3% CAGR.

Due to the increasing frequency of cyber attacks and the urgent need for mature technologies for the efficient handling of security problems, increasing growth is expected for the world market during the analysis period. The increasing reliance of companies on new technologies such as the IoT, as well as the proliferation of connected devices, create several vulnerabilities that lead cybercriminals to attack corporate networks. As organizations make consistent efforts to prevent evolving attacks, cyber criminals use sophisticated tools and methods to find new ways to prevent security breaches and reach business-critical assets. In addition, advanced cyberattacks recognize contextual environments and use indicators within target systems to dynamically change the attack strategy, which is relevant for both human and automated attacks. The problem requires companies to implement deception technologies to customize the contextual environment for better defense.

Companies are increasingly using deception technology to protect systems from cyber attacks such as malware. The approach tracks every intruder present in the company network and supports administrators in analyzing and reporting the problem. Market growth is being stimulated by the increase in cyber attacks such as zero-day attacks, malware, sophisticated persistent threats and distributed denial-of-service attacks. These threats are causing governments and organizations to invest in spoof technology to protect their networks and data centers. The global demand for the technology is also attributed to its numerous advantages over traditional security tools that reveal anomalies but fail to properly define their risk potential and impact. Alerts generated by standard tools must be investigated by administrators, including those that are false positives that lead to unnecessary consumption of resources. On the other hand, administrators sometimes overlook potential and real threats. Deception technology changes the asymmetry of an attack to help security teams focus on real threats. Technology plays an important role in repelling attacks and containing potential losses.

The ongoing COVID-19 pandemic and its impact on the virtual workforce and work-from-home (WFH) models will open up opportunities for deception software in the short term. With bans and social distancing becoming the norm in several parts of the world, and with businesses increasingly focusing on the “stay at home, stay safe” approach, the virtual workforce has grown significantly over the past few months as businesses tighten their cybersecurity need to raise platforms. The spoof technology market is also benefiting from government regulations, increasing amounts of digital and online data, and the increasing adoption of cloud-based technologies. More

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