New York, United States , July 10, 2023 (GLOBE NEWSWIRE) -- The Global Deception Technology Market Size is to grow from USD 2.62 Billion in 2022 to USD 9.54 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period.
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Deception technology is a proactive cybersecurity strategy that uses decoy systems, networks, and data to mislead and divert attackers. By creating an environment that appears real, but is actually designed to trap and detect malicious activity, deception technology enhances threat detection capabilities. It provides early warning signs, valuable insights into attackers' methods, and reduces the risk of successful attacks. This approach complements traditional security measures, offering an additional layer of defense against sophisticated cyber threats. With the ever-evolving landscape of cyber risks, the adoption of deception technology has become increasingly crucial for organizations to protect their critical assets and data.
Report Coverage
This research report categorizes the market for deception technology market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the deception technology market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the deception technology market.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on, "Global Deception Technology Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (On-Premise and Cloud-based), By Deception (Application Security, Data Security, Endpoint Security, and Network Security), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The application security segment is expected to grow at a higher CAGR during the forecast period.
Based on deception, the global deception technology market is segmented into application security, data security, endpoint security, and network security. The application security segment is poised for highest growth in the forecast period within the global deception technology market. This growth is driven by the increasing recognition of the critical role that applications play in business operations and the growing sophistication of application-layer attacks. Organizations are realizing the need for robust application security measures to protect their valuable assets and sensitive data. Deception technology provides an effective solution by offering advanced threat detection capabilities specific to applications. With the ability to lure attackers into decoy systems and gather valuable insights, deception technology strengthens the defense of applications against both known and unknown threats. As a result, the application security segment is expected to experience notable expansion as organizations prioritize securing their applications in the face of evolving cyber risks.
The solution segment held the largest market share with more than xx% market share.
Based on component, the global deception technology market is segmented into solution and services. The solution segment has emerged as the dominant sector in the overall cybersecurity market, holding the largest market share. This is primarily due to the increasing demand for comprehensive and integrated security solutions. Organizations are seeking end-to-end solutions that address multiple cybersecurity challenges, including threat detection, prevention, incident response, and compliance. Integrated solutions offer a unified approach to security, streamlining operations, reducing complexity, and enhancing overall effectiveness. Moreover, with the evolving threat landscape and sophisticated attack techniques, organizations prefer robust and versatile solutions that can adapt and evolve to counter emerging threats. The dominance of the solution segment reflects the market's need for holistic and customizable cybersecurity offerings to protect critical assets and data.
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Asia-Pacific is predicted to grow at a higher CAGR of around 15.6% over the projected period.
Based on region, the Asia-Pacific region is poised to experience fastest growth in the forecast period in the deception technology market. Several factors contribute to this expected surge. The region has witnessed rapid digital transformation, leading to an increased reliance on technology and connectivity. This expansion of digital infrastructure has also attracted the attention of cybercriminals, necessitating advanced security solutions like deception technology. The rising number of cyber threats and attacks in countries across the region has prompted organizations to adopt proactive cybersecurity measures. Additionally, the growing awareness about the importance of robust security practices, coupled with government initiatives promoting cybersecurity, is expected to drive the adoption of deception technology in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global deception technology market include Allure Security Technology, Inc., Topspin Security, Varmour, Smokescreen Technologies, Acalvio Technologies, NTT security limited, Ridgeback Network Defense Inc., SEC Technologies, WatchGuard Technologies Inc., Attivo Networks Inc., Commvault Systems Inc., and Illusive Networks.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global deception technology market based on the below-mentioned segments:
Deception Technology Market, By Component
- Solution
- Services
Deception Technology Market, By Deployment
- On-Premise
- Cloud-based
Deception Technology Market, By Deception
- Application Security
- Data Security
- Endpoint Security
- Network Security
Deception Technology Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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