Global Deception Technology Market: Snapshot
Computer systems and servers are greatly affected by numerous security issues such as viruses, malware, cyber attacks, worm infections, Trojan horse attacks, and others. To address these issues, there are various technological shields available that can not only stop such activities, but also protect systems from any future attacks. One of these methods is called deception technology, which mainly deals with malware infections. The name derived from this technology comes from its ability to trick malicious programs against their own operation, thus thwarting their actions.
The deception network works mainly in the form of a decoy agent, which is installed as a security network within a network, in anticipation of a cyber attack. The activities of intruders and possible hackers are clearly recorded, if such persons manage to enter the system network. In this way, managers and system administrators can be alerted in an instant about a possible security breach due to the entry of malicious programs. This notice is sent through the same route as the attacked network, thus being able to correctly reach the recipients.
A substantial utilization of deception technologies has given rise to the deception technology market from a global perspective. Due to the growing concerns about network security breaches, the cheating technology market is growing substantially and is expected to earn a lot of revenue in the coming years. Deceptive technology can help save huge sums of money from banks, financial institutions, and other businesses, as well as confidential and classified information, which is highly beneficial to various organizations.
Global deception technology Market: Overview
In recent years, the market has seen many new technologies emerge to address security issues more effectively. One such technology rapidly gaining prominence is called deception technology. It defeats malware by tricking them into their own operation and thus protects an organization against malware.
To dig a little deeper, a deception network is one that acts as a decoy that is set up to be compromised in the event of a cyber attack. It helps track intruder activities within a network and thus enables network administrators and analysts to perform incident response analysis. It sends a warning to the original network and thus prevents it from being tampered with.
Global deception technology Market: key trends
The main driver of the growth in the global market for deceptive technology is the alarming increase in cases of cyber attacks such as malware, zero-day attacks, Distributed Denial of Service (DDoS), and Advanced Persistent Threats (APT), among others. In response, organizations and governments around the world have substantially increased their spending on security measures, such as deceptive technology, to protect their networks and data centers from cyberattacks.
Other factors driving the global deception technology market are stringent government regulations, the rapid adoption of cloud-based technologies, and the presence of online and digital data. On the contrary, the problems hindering the growth of the market are inadequate knowledge of security measures, rise of hacked network security tools, and lack of cyber expertise to handle complex software.
Global deception technology Market: Market potential
Cheating technology, still in its early stages, offers great growth potential in the coming years. As a defense technology against hackers, it has merit, and larger organizations are already considering leveraging it to uncover threats in advance. Advanced deceptive technology solutions can save entities around the world nearly trillions of dollars lost to cyberattacks.
Sensing an opportunity in the market, Illusive Networks, a pioneer in cyber deception technology, recently absorbed funding from Microsoft Ventures for rapid global expansion, investment in sales and marketing, and strengthening of engineering and support teams.
Going forward, the end-use segments expected to generate significant demand for deceptive technology are government, banking, financial services and insurance, and aerospace and defense.
Global deception technology Market: Regional Overview
From a geographical point of view, North America is a key region in the global deception technology market. The region is likely to move forward apace in the coming years driven primarily by the developed nations of the US and Canada, which are home to numerous new and well-established providers serving both domestic and international customers. North America is followed by Europe in terms of market share.
Asia Pacific is another crucial market. Increasing investments in network security by a large number of IT, telecom and banking companies headquartered in particular in the countries of China, India and Japan are expected to drive the market in the region. Another factor that will drive the demand for misleading technology in the region is the increase in investments in smart cities that take advantage of the Internet of Things (IoT) and cloud technologies, among others.
Global deception technology Seaket: Competitive Analysis
To gauge competition in the global deception technology market, the report profiles companies such as Rapid7, Inc., LogRhythm, Inc., Attivo Networks, Illusive Networks, GuardiCore, Allure Security Technology, TopSpin Security, and Smokescreen Technologies. Other stakeholders in the market include solution providers, IT service providers, value-added resellers, business users, consulting firms, and security and access management technology providers.
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