Deception Technology Market Is Anticipated To Exhibit A CAGR Of 14.1% By 2033
Fact.MR, a market research and competitive intelligence provider, reveals that the global deception technology market is set to achieve a valuation of US$ 7.5 billion by 2033, expanding at 14.1% CAGR from 2023 to 2033.
Deception technology is a type of cybersecurity defense tactic that seeks to confuse attackers by disseminating a series of decoys and traps throughout a system's infrastructure to imitate real assets. Deception technology has several advantages, including shortening the average time to identify and remediate threats, lowering attacker dwell time on the network, creating metrics around indicators of compromise (IOCs), decreasing alert fatigue, and tactics, techniques, and procedures (TTPs), etc. As a result, it has numerous applications in fields such as information technology (IT), banking, financial services and insurance (BFSI), and defense.
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Increasing frequency of advanced persistent threats (APTs) and zero-day attacks are propelling the global deception technology market. Furthermore, the increasing deployment of this technology in many security sectors to focus on real network risks is pushing market expansion. Another significant growth-inducing element is the widespread use of deception technology by government agencies around the world to fight cybercrime and protect sensitive information on their official websites.
Deception technology also supports the incorporation of artificial intelligence (AI) and machine learning (ML) to lower ongoing costs. Furthermore, growing digitization and widespread adoption of online services by businesses are increasing the demand for security services, boosting the global deception technology market growth.
Key Takeaways from Market Study
- The global deception technology market is worth US$ 2 billion in 2023.
- The market is estimated to evolve rapidly at a CAGR of 14.1% from 2023 to 2033.
- The market for deception technology solutions is projected to hit US$ 7.5 billion by 2033.
- The government segment held 35.7% share of the global market in 2022.
- The North American market was valued at US$ 830 million in 2022.
Regional Analysis
North America is expected to dominate the global deception technology market during the forecast period. The United States is the leading market in North America due to the growing number of cyberattacks in the country. Furthermore, factors such as the rapid development and acceptance of emerging technologies and the existence of prominent market participants in the region are expected to contribute to the North American deception technology market.
Asia Pacific and Europe are expected to follow North America in terms of revenue.
Key companies in Deception Technology Market
- Acalvio Technologies, Inc
- CYBERTRAP Software GmbH
- Allure Security Technology, Inc
- CounterCraft SL
- Attivo Networks, Inc
- Cymmetria, Inc
Key Segments of Deception Technology Industry Research
- By Component :
- Solutions
- Services
- By Deception Stack :
- Network Security
- Application Security
- Data Security
- Endpoint Security
- By Deployment :
- On-premise
- Cloud
- By End User :
- BFSI
- IT & Telecom
- Government
- Retail
- Energy & Utilities
- Others
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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https://www.globenewswire.com/en/news-release/2023/01/06/2584515/0/en/Spike-in-APTs-and-Zero-Day-Attacks-to-Spur-Demand-for-Deception-Technology-Solutions-Fact-MR-Report.html
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global deception technology market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of component (solutions, services), deception stack (network security, application security, data security, endpoint security) deployment (on-premise, cloud), and end user (BFSI, IT & telecom, government, retail, energy & utilities, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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