Deception Technology Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

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According to The Business Research Company’s Deception Technology Global Market Report 2024, 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..

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.

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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)

Technological innovation is a key trend in the deception technology market. Major players in the deception technology market are concentrating on creating new technological advancements to improve their competitive position. For instance, in March 2022, Zscaler Inc., a US-based company operating in deception technology, launched Zero Trust Network Access (ZTNA) Technology. Zero-trust network access technology is an IT security technology platform based on zero-trust exchange to provide remote access to an organisation’s infrastructure. This technology reduces the chance of cyberattacks on cloud platforms, reduces high-risk human-operated attacks, and provides secure data and information sharing.

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 – Macro Economic Scenario
5. Global Deception Technology Market Size and Growth
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31. Global Deception Technology Market Competitive Benchmarking
32. Global Deception Technology Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Deception Technology Market
34. Deception Technology Market Future Outlook and Potential Analysis
35. Appendix

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