Deception Technology Market - Growth, Trends, and Forecast (2019 - 2024)

Market Overview

The deception technology market is estimated to register a CAGR of 14.9% during the forecast period 2019 - 2024. Due to the increasing number of data breaches and profound cyber-attacks across the world, need for an advanced security infrastructure that can withstand and counter such network security breaches is driving the market.

- Current security tools are effective at flagging up anomalies but are not significant at defining their impact and risk potential. These tools result in the generation of many alerts, most of which are needed to be investigated by security teams despite many of them being a waste of time. Resources are spent wastefully assessing these false alarms, while real and present threats can be missed out.
- Scenarios like these are aiding deception technology to gain momentum, over the past few years. Deception technology is revolutionizing the security field, that disables the malware attacks by deceiving them in their own operation, defending the enterprise from such attacks.
- These advanced deceptive technology solutions are expected to save billions of dollars, affected by the cyber-attacks globally, and also supports the need for a secure platform to protect both public and private infrastructure security necessities.

Scope of the Report

The aim of deception technology is to prevent a cybercriminal that has managed to enter a network from doing any significant damage. The technology works by generating traps that replicate legitimate technology assets of the firm. These traps run in a virtual or real operating system environment and are designed to trick the cybercriminal into thinking that they have discovered a way to steal data and important credentials.

Key Market Trends

Medical Sector to Witness High Growth

- Advancement in technology has led to the usage of digital technologies in the healthcare sector, which is used to develop an end-user experience. With the generation of huge patient data and medical records, it is very important to secure the data which is driving the market studied in this sector.
- Despite the high level of threats, in the healthcare sector, the security, in terms of cybersecurity and other breaches, is still underrated, and the industry hasn’t been proactive in securing their data with the new technologies.
- The growing number of cyber attacks in the healthcare sector, and a large number of stolen record alerts being detected by the different external sources, this factor is the primary driver of the market for deception technology.

North America Occupies the Largest Market Share

- North America is the largest region for the deception technologies, as the region has a high demand for protection and control systems against cybercrimes. Also, the region has the highest adoption rate of IoT technologies leading to a growing need for data security.
- Moreover, with the growing number of data centers in North America due to increased research and development activities are also allowing the deception technology market to grow. The industrial sector also has stringent security policies for the safety of intellectual property, and as the industrial sector grows, it increases the demand for deception technology.
- With the availability of adequate infrastructure, the presence of numerous global financial institutions, high frequency of cyber-attacks, and increased adoption of connected technologies are expected to drive the growth of the deception technology market in the North American region.

Competitive Landscape

The deception technology market is highly competitive owing to the presence of many small and large players in the market. The market is moderately concentrated with the key players adopting strategies like product innovation and mergers and acquisition to extend their reach and stay ahead of the competition. Some of the key players in the market are Symantec Corporation, Rapid7 LLC, WatchGuard Technologies Inc among others.

- July 2018 - Rapid7 Attacker Behavior Analytics brought together machine learning and human security expertise. With the addition of ABA, all InsightIDR customers are expected to automatically receive high-fidelity alerts on evolving attacker behaviors built from thousands of incident investigations, including the use of fileless malware, crypto jacking, and spear phishing.
- April 2018 - Attivo Networks launched Counterintelligence; Bolsters Current Threat, and Adversary Intelligence Functionality for offense-driven countermeasures. The ThreatDefend Platform’s new DecoyDocs feature provides the ability to plant deception files that allow the organization to conduct data loss tracking (DLT) on documents that have been exfiltrated.

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