The market for deception technology is anticipated to grow at an astounding CAGR of 14.1%, from US$ 2 billion in 2023 to US$ 7.5 billion by the end of 2033. By creating realistic-but-fake assets, such as domains, databases, servers, files, credentials, applications, cookies, and more, which are placed in the network alongside actual assets, deception technology is essential in protecting an organization’s sensitive data.
It is challenging to tell actual assets from fakes. A silent alarm is set off when an attacker interacts with a decoy, alerting the system to the attacker’s intentions. Businesses that employ deception techniques are more dependable, safe, and secure. The system also has a minimal initial investment, which contributes to its widespread use in small and medium-sized organisations.
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Why Do Businesses Need Deception Technology Solutions?
By tricking attackers into engaging with fake IT assets implanted within the network, deception technology helps security teams identify, analyse, and defend against sophisticated threats.
The deception tactic can provide end users high-fidelity alerts about particular dangerous behaviours, many of which are challenging to find using a SIEM technology or log analysis alone. Additionally, it has the ability to deceive and mislead an opponent on an internal network and detect suspicious behaviour early in an attack chain.
Deception technology is also an effective means of rerouting hostile traffic away from vital systems, spotting anomalous network scans, and learning more about attackers’ tactics. As a result, there is a rising need for deception technologies.
The key business strategies discussed in this market research revolve around-
- Which are the key business segments in the global industry?
- What are the important elements used to study the business intelligence of the market?
- What is the market value of the dominant firms operating in the Deception Technology industry?
- What are the distribution networks, domestic & international traders, vendors, sellers of the individual segments in the industry?
- What are the entry barriers and expansion barriers globally in the business?
- What are the trends in the market, growth possibilities, investment risks in the worldwide Deception Technology market?
- What are the prospect opportunities and industry investment chances in the market?
Why is the United States the Frontrunner in the North American Market?
In 2022, the North American market had a value of $830 million. Due to the substantial need for cybercrime control and prevention systems in the region, North America is the most significant region for deception technology. Also, the region has the fastest rate of IoT technology adoption, which is driving up demand for data protection.
The demand for deception technology in North America is also being driven by the expanding use of smart devices and an increase in the use of social apps, both of which generate significant amounts of data holding crucial information.
North America’s market is currently being led by the United States. The number of cyberattacks in the US has significantly increased recently.
Additionally, it is anticipated that the presence of several illustrious financial institutions and the rising use of connected technologies will increase demand for deception technology in the United States.
Key Companies:
- Acalvio Technologies, Inc
- CYBERTRAP Software GmbH
- Allure Security Technology, Inc
- CounterCraft SL
- Attivo Networks, Inc
- Cymmetria, Inc
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