Deception technology Market
Growth Factors of Deception Technology Market
The deception technology market size was reached at a value of USD 518.46 billion in 2023, and the market is now projected to grow from USD 542.21 billion in 2024 to USD 886.80 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2023-2032.
Covid pandemic resulted in the change of products price substantially with reduction in demand. During covid pandemic most of the business were forced to shift to online selling’s by closing physical stores which boost the deception technology market growth. This trend will be continued as business recognize the importance of having an efficient and visually appealing online store for driving sales and reaching a worldwide client base. Hence, online store sale is anticipating witnessing a boom in the projected period.
Growing need for the good in the public sector to promote development. The number of cybersecurity assaults on local and state governments as well as military institutions is rising. While traditional network protection solutions aim to stop these kinds of activity, attackers are coming up with new strategies to get around them. Globally, a deception platform is often employed to shield the government agency from cyberattacks. Government organizations can protect vital information by deploying deception technology cyber security, which enables early and precise detection of in-network attacks and prompt remediation. Furthermore, it is projected that in the upcoming years, the use of deception tools would increase due to the government agencies' increased expenditure in combating cybercrime.
Adoption of security services with zero-trust architecture to drive deception technology market growth. The state of IT infrastructure has always been dynamic. Due to the increasing need for new technologies like zero trust, secure access service, and expanded detection and response globally, IT organizations frequently implement new solutions in their network architecture along with the development of new emerging technologies. Furthermore, projects for digital transformation are either underway or finished in 72% of firms, according to a research report by the Enterprise Strategy Group (ESG). Since 2020, this number has grown by 14%. While many IT companies have embraced a remote work culture, the inability to safeguard corporate infrastructure through conventional means may increase demand for the technology.
Comprehensive Analysis of Deception Technology Market
The deception technology market and information and communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the technology benefit management industry. These segmentations are methodically segregated by component, by deception stack, by deployment mode, by enterprise type and by vertical. The component segmentation include, Solution, Services), by Deception Stack segmentation include Application Security, Data Security, Endpoint Security, Network Security, By Deployment Mode segmentation include On-premise, Cloud-based, By Enterprise Type segmentation include Small and Medium Enterprises (SMEs), Large Enterprises, By Vertical segmentation include Banking, Financial Services, and Insurance (BFSI), Energy & Utilities, Government, Healthcare, Telecom and IT, Manufacturing, Retail, Others (Education, Defense, and Others).
The North America region lead the deception technology market by benefitting a market size of USD 0.79 billion in 2023 owing to swift advancement and uptake of new technologies and adoption of security services with zero-trust architecture.
The major market participants are essential to the information and communication technology sector since they guarantee the expansion of the business and establish benchmarks. These major players in the market provide a level playing field for competitors all over the world which include Rapid7, Inc. (Massachusetts), Illusive Networks, Inc. (New York), PacketViper (Pennsylvania), CyberTrap Software GmbH (Vienna, Austria), Fidelis Cybersecurity (Maryland, U.S.), and Trapx Security (Massachusetts, U.S.).
In March 2021, AcZscaler purchased the deception technology company Smokescreen Technologies. Through the deal, Zscaler clients will receive deception technologies that will improve threat detection.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 13.1% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Component
By Deception Stack
- Application Security
- Data Security
- Endpoint Security
- Network Security
By Deployment Mode
By Enterprise Type
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Energy & Utilities
- Government
- Healthcare
- Telecom and IT
- Manufacturing
- Retail
- Others (Education, Defense, and Others)
By Region
- North America (By Component, By Deception Stack, By Deployment Mode, By Enterprise Type, By Vertical, and By Country)
- U.S. (By Deception Stack)
- Canada (By Deception Stack)
- Mexico (By Deception Stack)
- South America (By Component, By Deception Stack, By Deployment Mode, By Enterprise Type, By Vertical, and By Country)
- Brazil (By Deception Stack)
- Argentina (By Deception Stack)
- Rest of Latin America (By Deception Stack)
- Europe (By Component, By Deception Stack, By Deployment Mode, By Enterprise Type, By Vertical, and By Country)
- U.K. (By Deception Stack)
- Germany (By Deception Stack)
- France (By Deception Stack)
- Italy (By Deception Stack)
- Spain (By Deception Stack)
- Russia (By Deception Stack)
- Benelux (By Deception Stack)
- Nordics (By Deception Stack)
- Rest of Europe (By Deception Stack)
- Middle East & Africa (By Component, By Deception Stack, By Deployment Mode, By Enterprise Type, By Vertical, and By Country)
- Turkey (By Deception Stack)
- Israel (By Deception Stack)
- GCC (By Deception Stack)
- North Africa (By Deception Stack)
- South Africa (By Deception Stack)
- Rest of the Middle East & Africa
- Asia Pacific (By Component, By Deception Stack, By Deployment Mode, By Enterprise Type, By Vertical, and By Country)
- China (By Deception Stack)
- Japan (By Deception Stack)
- India (By Deception Stack)
- South Korea (By Deception Stack)
- ASEAN (By Deception Stack)
- Oceania (By Deception Stack)
- Rest of Asia Pacific (By Deception Stack)
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