Deception Technology Market Growth Outlook Through 2024-2033

Overview and Scope
Deception technology refers to a collective term for tools and software used in cyber security of infrastructure to deceive cybercriminals by trapping and monitoring their activity. The deception technology is used to identify and monitor suspicious activities of cyberattacks, provide insights into cybercriminals, reduce alert fatigue, collect traps and decoys across the system of organizational infrastructure to protect information and used in various sectors such as banking, healthcare, military operations, and communication industry.

Sizing and Forecast
The deception technology market size has grown rapidly in recent years. It will grow from $2.56 billion in 2023 to $2.96 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to need for early threat detection, increased insider threat concerns, shortage of cybersecurity talent, regulatory compliance requirements, integration with security operations, rise in social engineering attacks, continuous monitoring requirements..

The deception technology market size is expected to see rapid growth in the next few years. It will grow to $5.28 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to integration with security orchestration, use in critical infrastructure protection, application in healthcare security, increased sophistication of malware, shift to active defense strategies, adoption in government and defense.. Major trends in the forecast period include integration with threat intelligence, cloud-based deception solutions, expansion to iot and ot environments, automation and orchestration of deception, emphasis on insider threat detection, machine learning and behavioral analysis, user deception and identity protection..

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Segmentation & Regional Insights
The deception technology market covered in this report is segmented –

1) By Deception Stack: Application Security, Data Security, Endpoint Security, Network Security
2) By Component: Solution, Services
3) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
4) By Deployment Mode: On-Premise, Cloud-Based
5) By Vertical: Banking, Financial Services, and Insurance (BFSI), Energy and utilities, Government, Healthcare, Telecom and IT, Manufacturing, Retail, Other Verticals (Education, Defense, and Others)

North America was the largest region in the deception technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the deception technology market report during the forecast period. The regions covered in the deception technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Growing cybersecurity concerns are expected to propel the growth of the deception technology market going forward. Cybersecurity refers to the protection against the assault performed by cybercriminals to steal data and sensitive information by sending and hacking a computer system using malicious information and committing a security violation in which sensitive information can be stolen from a computer system without the prior permission of the owner of the system. Deception technology is used in the current time to prevent any unauthorized access to information from the system of the company of employees’ database. For instance, in October 2021, according to Fortune, a US-based publishing company specializing in the publication of books, articles, and magazines, the total number of global data breach cases was 1291 in 2021, up from 1108 in 2020. Phishing and ransomware are the major tools used by cybercriminals, and the total number of data breaches is expected to increase by 17% in 2021. Therefore, the growing cybersecurity concerns are driving the growth of the deception technology market.

Key Industry Players
Major companies operating in the deception technology market report are Illusive Networks Inc., Commvault Systems Inc., Rapid7 Inc., Akamai Technologies Inc., Fidelis Cybersecurity Inc., Zscaler Inc., Allure Security Technology Inc., CyberTrap Software GmbH, Acalvio Technologies Inc., CounterCraft Security, Cymmetria Inc., vArmour Inc., PacketViper LLC, WatchGuard Technologies Inc., Ridgeback Network Defense Inc., Fortinet Inc., RevBits LLC, Attivo Networks, Guardicore Ltd, LogRhythm Inc., Minerva Labs Ltd., Darktrace Limited, Smokescreen Technologies Private Limited, TopSpin Security Ltd., TrapX Security Inc., FireEye Inc., ARIA Cybersecurity Solutions LLC, Awake Security Inc., Cynet Ltd., Cyphort Inc.

The deception technology market report table of contents includes:

1. Executive Summary
2. Deception Technology Market Characteristics
3. Deception Technology Market Trends And Strategies
4. Deception Technology market analysis
5. Deception Technology Market Size And Growth
6. Deception Technology Segmentation
7.Deception Technology Regional And Country Analysis
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27. Deception Technology Competitive Landscape And Company Profiles
28. Deception Technology Key Mergers And Acquisitions
29.Deception Technology Future Outlook and Potential Analysis

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