According to report “Deception Technology Market by Component (Solution, and Services (Professional and Managed)), Deception Stack (Application, Data, Endpoint, and Network), Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2021″, The deception technology market size is estimated to grow from USD 1.04 Billion in 2016 to USD 2.09 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 15.1%.
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Deception technology helps organizations to protect networks, endpoints, and devices from various malicious attacks, sophisticated cybercriminals, ransomwares, and Advanced Persistent Threats (APTs). The major forces driving the deception market are the rise of APTs and zero-day attacks, the need of effective solution for early detection of attackers by enterprises, and the rise in adoption of Bring Your Own Device (BYOD) and Internet of Things (IoT) trend within enterprises. Therefore, enterprises are deploying advanced cyber deception solutions to secure networks and endpoints from cyber threats.
Network security segment to play a key role in the deception technology market
Network security is expected to have the largest market share and dominate the deception technology market from 2016 to 2021, as more and more companies are adopting deception technology solutions to secure their network resources. The data security segment is expected to play a key role in changing the deception technology landscape and is projected to grow at the highest growth rate during the forecast period. The reason being, the organizations have increased their spending on cyber deception solution for data security.
Retail vertical is expected to grow at the highest rate in the deception technology market
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to contribute the largest market share in the deception technology market. The increased usage of online banking transactions for businesses via web & mobile devices result in massive growth in advanced cyber-attacks, creating the need of adoption of cyber deception solutions. The retail vertical is expected to grow at the highest CAGR from 2016 to 2021 in the deception technology market, due to the increased usage of internet to attract customers which lead to risks and uncertainties related with security, resulting in the growth of this segment.
North America is expected to contribute the largest market share, whereas APAC is expected to grow at the highest rate
North America is expected to have the largest market share and dominate the deception technology market from 2016 to 2021, due to the presence of a large number of deception technology vendors across this region. On the other hand, Asia-pacific (APAC) offers potential growth opportunities in the deception technology market, as there is a wide presence of small and medium enterprises in the region that are turning towards advanced cyber deception solutions to defend against APTs.
The major vendors in the deception technology market include Rapid7, Inc. (U.S.), LogRhythm, Inc. (U.S.), TrapX Security (U.S.), Attivo Networks (U.S.), Illusive Networks (Israel), Cymmetria, Inc. (Israel), GuardiCore (Israel), Allure Security Technology (U.S.), TopSpin Security (Israel), vArmour (U.S.), and Smokescreen Technologies (India).
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