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Market Overview:
The Deception Technology industry is projected to grow from USD 1.68 Billion in 2022 to USD 4.62 Billion by 2030, exhibiting a CAGR of 13.51% during the forecast period (2022 – 2030).
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Key Players:
The market players are,
Market Dynamics:
It is anticipated that deception technology will gain traction in numerous sectors, including retail, healthcare, and IT, among others, in order to fortify security measures against APTs and malware and to safeguard the cloud environment. Additionally, it is expected that the market for deception technology will experience substantial growth prospects over the forecast period as a result of the increasing implementation of cyber-security platforms in the healthcare industry, which aims to eliminate any potential vulnerabilities and risks associated with protected health information.
A further development is the advanced persistent threat, which has transformed into one of the most complex and perilous forms of assault. Traditional antivirus methods are rendered ineffective against advanced persistent threat (APT) attacks that employ various strategies such as social engineering, phishing, command and control servers, and remote desktop control. This is because the primary purpose of traditional anti-virus methods is to defend against standalone malware attacks. In response to the rise in APTs, businesses are adopting deception technologies.
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While existing security tools have demonstrated efficacy in detecting anomalies, they still require further development to fully comprehend their ramifications and potential risks. Although numerous alerts are generated by these tools, security teams are required to investigate the majority of them, despite the fact that many of them are unnecessary. Efforts are directed towards unproductive evaluation of these fictitious dangers, when the impending and authentic threats require attention. Through the modification of an attack’s asymmetry, deception technology enables security teams to concentrate on genuine network threats. Scenes such as these have contributed to the advancement of deception technology throughout the projected timeframe.
Amid the COVID-19 pandemic, there was a significant surge in cyberattacks that inflicted damage upon organizations, enterprises, and individuals. As a result, a number of affected organizations are allocating resources towards revitalizing obsolete systems, thus making a contribution to the market for deception technology. For example, the United States Department of Homeland Security issued a warning regarding advanced persistent threat groups and emergent cybercriminals associated with pandemics. Interpol issued a warning regarding criminals who target medical facilities on purpose.
Market Segmentation:
The market segmentation, based on Deployment, includes Cloud, On-Premise.
Based on Component, the market segmentation includes Service and Solution.
Based on Deception Stack, the market segmentation includes Application Security, Data Security, Network Security, and Endpoint Security.
Based on End-Users, the DCB market segmentation includes Manufacturing, Healthcare, BFSI, Transportation, Government, Retail, and Others.
Regional Analysis:
As the region with the greatest market share in deception technology, North America consequently controls the industry. This is due to the increasing development of deception technology in nations such as Canada and the United States, which are home to a significant proportion of start-up companies.
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The Asia-Pacific region is witnessing favorable expansion for the deception technology market due to the augmentation of network security infrastructure in numerous IT and telecommunications sectors, including Japan, India, China, and South Korea.
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