Tech Innovation to Boost Growth in the Global Deception Technology Market Through 2024

Network security is a progressive field with new technical expertise surfacing every day to address technology security concerns in a profound and more sophisticated way. One of these technologies presently revolutionizing the security field is the deception technology, which disables malware attacks by deceiving them in their own operation; thereby defending the enterprise against it.

A deception network is one that actually work as a decoy and is deployed to be compromised in a cyber-attack. Deception technology tracks the activities of the intruder inside a network and lays the foundation for network administrators and analysts for incident response analysis. The deception technology activates attack on a decoy network, and further sends alarms to original network thereby safeguarding it from being manipulated. Intruder’s keystrokes are logged and are further sent to a system log. Later the bogus files thus altered can be trashed with no harm done to actual network.

The factors favorable to growth of the market are growing incidences of data breaches and profound cyber-attacks across the globe; thereby necessitating a compact security infrastructure that may withstand and if possible counter such network security breaches. In the data-sensitive industries such as banking, insurance and technology, the demand for data security is driving the need for deceptive security tools for prolonged secure connectivity. Furthermore, tough government regulations, growth of cloud- based technology service and omnipresence of digital and online data are expected to drive deception technology market over the forecast period.

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Lack of security awareness, growing use of pirated network security tools and supported with dearth of cyber expertise are anticipated to emerge as factors restraining the growth of the sector. Furthermore, inadequate IT budget allocations in the organizations followed by ambiguous strategic implications is expected to testify the deception technology market growth over the forecast period.

Challenges are numerous owing to the technological complexity and consistency required in network security deployment. Today’s modern day economy is profoundly dependent on information and communications technology to conduct their daily business operations. Growing cyber threat intensity is further pushing the demand for deception security solutions capable of defending not only single network layer threats but also numerous applications from data-layered attacks. These advanced deceptive technology solutions are estimated to save trillions of dollars affected by cyber-attacks globally in the years to come and are supporting the need for a secure platform to protect public and private infrastructure security necessities. The spending on deception technology is expected to grow exponentially across various businesses verticals, from the government & BFSI to aerospace & defense.

Deceptive security tools segment imposes technical requirements and the need for updating the existing hardware such as servers & maintaining consistency across the network infrastructure in order to reduce technological complexity. For embedded network systems it is thus necessary to ensure high returns on investment made in the security infrastructure.

The industry is segmented by end-user type and deception stack layer. On the basis of deception stack layer market is segmented as data, application, and endpoint network layer respectively. Further, the end-user segment is divided into IT & Telecom, Energy & Power, BFSI, Retail and other verticals such as Manufacturing, Healthcare and Administrative sector. The BFSI segment is expected to grow at a remarkable pace owing to the enhanced customer data security requirements that the host organizations need to deliver.

The North America region is expected to be the major market for deception technology followed by the European region. The growth is North America is expected to be driven by countries such as the U.S. and Canada which have witnessed major developments in the field of deception technology over the past few years and are hub of large as well as start-ups vendors in the region, catering to domestic & global clients. Furthermore, the Asia Pacific Countries such as China, Japan and India are expected to grow at a significant rate on account of growing investment in network security infrastructure by companies in IT & Telecom and BFSI sectors. Upcoming investments for developing smart cities in the region is expected to substantially generate demand for deception technology and the same is expected to further boost market growth specifically in the region.

Leading players in the deception technology market are Cymmetria, SEC Technologies, Shape Security Inc., Guardicore, Attivo Networks, Inc., Rapid7, Hexis Cyber Solutions, LogRhythm Inc., Percipient Networks, Trapx Security, Allure Security Technology, ForeScout Technologies Inc., Shadow Networks and Illusive Networks.

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