Deception Technology Market: Current Analysis and Forecast (2022-2028)

The global Deception Technology Market is expected to grow at a growth rate of around 13% during the forecast period. Deception techniques are cybersecurity defense techniques aimed at deceiving attackers by deploying a series of traps and decoys throughout a system's infrastructure to impersonate real assets. When an intruder triggers a decoy, the server records and monitors the attack vectors used during the intrusion. The global deception technology market is growing rapidly on the account of the rising APTs and Zero-Day attacks, the growing need for effective solutions for early detection of attackers, and the rising adoption of IoT within enterprises. Moreover, factors such as the integration of deception technology in virtual environments, quickly growing cybersecurity threats, and rising spending on cybersecurity by various organizations and governments are also contributing to the growth of the market. For instance, JPMorgan Chase spends USD 600 Mn on cybersecurity every year, Microsoft invests USD 1 billion annually on cybersecurity, the US government's 2021 budget for cybersecurity was USD 8.64 Bn, etc.

Some of the major players operating in the market include: Rapid7 Inc., LogRhythm Inc., Commvault Systems Inc., Akamai Technologies Inc., Allure Security Technology, CloudPassage Inc., vArmour Inc., Zscaler Inc., Acalvio Technologies Inc., and WatchGuard Technologies Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst deployment, on-premises deployment segment to witness robust CAGR during the forecast period"

Based on deployment, the market is divided into on-premises and cloud. The on-premises segment catered to a prominent share of the global deception technology market. Flexibility, data security, high speed, and low latency are the most prominent factors driving the growth of this segment. The on-premises deployment provides physical control to the enterprises over the data, it keeps access to critical data limited to the enterprises only.

"Amongst organization size, the SMEs segment to hold a significant share in the market in 2020"

Based on organization size, the market is classified into large enterprises and SMEs. The SMEs segment is expected to grow substantially during the forecast period because with the help of deception technology enterprises protect and secure the most critical data for their businesses. Deception technology is fundamentally important to all sizes of businesses. Furthermore, most enterprises are looking for deception technology solutions to protect and secure their data from any type of data loss or disaster, providing opportunities to major data resiliency market players.

"North America held a significant share in the market in 2020"

North America is the largest region for deception technology due to the high need for protection and control systems against cybercrime. The region also has the highest adoption rate of IoT technology, increasing the need for data security. Hence catalyzing the adoption of deception technology in the region. Moreover, factors such as the rapid development and adoption of emerging technologies and the presence of the key market player in the region are also expected to contribute to the growth of the deception technology market.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

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