Global Deception Technology Market: Overview
In the past couple of years, the market has seen the emergence of many new technologies to tackle security issues more effectively. One such technology rapidly gaining prominence is called deception technology. It defeats malware by deceiving them in their own operation and thereby safeguards an organization against malware.
To elaborate a bit further, a deception network is one that acts as decoy that is installed to be compromised in the event of a cyber-attack. It helps track the activities of the intruder inside a network and hence enables network administrators and analysts bring about incident response analysis. It sends a warning to the original network and hence prevents it from being manipulated.
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Global Deception Technology Market: Key Trends
The main trigger for growth in the global market for deception technology is the alarming rise in instances of cyber-attacks such as malwares, zero day attacks, Distributed Denial of Service (DDoS), and Advanced Persistent Threats (APTs), among others. In response, organizations and governments across the world have substantially upped their expenditure on security measures such as deceptive technology to protect their networks and data centers against cyber-attacks.
Other factors driving the global deception technology market are stringent government regulations, swift uptake of cloud-based technologies, and presence of digital and online data. On the contrary, issues hobbling the market’s growth are improper knowledge of security measures, rise of pirated network security tools, and lack of cyber expertise to deal with the complex software.
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Global Deception Technology Market: Market Potential
Deception technology, still in its nascent stages, holds out a lot of potential for growth in the upcoming years. As a defense technology against hackers, it holds merit and larger organizations are already considering leveraging them to uncover threat in advance. Advanced deceptive technology solutions can save entities across the world almost trillions of dollars lost in cyber-attacks.
Sensing an opportunity in the market, cyber deception technology pioneer Illusive Networks mopped up funding from Microsoft Ventures recently for swift global expansion, investment in sales and marketing, and bolstering of engineering and support teams.
Going forward, the end use segments that are expected to generate significant demand for deception technology are the government, banking, financial services and insurance, and aerospace and defense.
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Global Deception Technology Market: Regional Outlook
From a geographical standpoint, North America is a key region in the global market for deception technology. The region will likely advance at a good clip in the years to come powered primarily by the developed nations of the U.S. and Canada that are home to numerous well-entrenched and new vendors catering to both domestic as well as international clients. North America is followed by Europe in terms of market share.
Asia Pacific is another crucial market. The rising investments in network security by a large number of IT, telecom, and banking companies based particularly in the countries of China, India, and Japan are predicted boost the market in the region. Another factor slated to push the demand for deception technology in the region is the increasing investments in smart cities which leverage Internet of Things (IoT) and cloud technologies, among others.
Global Deception Technology Market: Competitive Analysis
In order to gauge the competition in the global deception technology market, the report profiles companies such as Rapid7, Inc., LogRhythm, Inc., Attivo Networks, Illusive Networks, GuardiCore, Allure Security Technology, TopSpin Security, and Smokescreen Technologies. Other stakeholders in the market are solutions providers, IT service providers, value-added resellers, enterprise users, consulting firms, and security and access management technology providers.