Deception Technology Global Market Report 2024

The global deception technology market has grown rapidly in recent years. It will grow from $2.56 billion in 2023 to $2.96 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth observed in the historical period can be attributed to the imperative for early threat detection, heightened concerns regarding insider threats, a shortage of cybersecurity talent, the need to comply with regulatory requirements, the integration with security operations, a rise in social engineering attacks, and the increasing demand for continuous monitoring capabilities.

The global deception technology market is expected to see rapid growth in the next few years. It will grow to $5.28 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The anticipated growth in the forecast period can be attributed to increased integration with security orchestration, heightened use in critical infrastructure protection, application in healthcare security, the growing sophistication of malware, a shift towards active defense strategies, and increased adoption in government and defense sectors. Major trends in the forecast period encompass the integration with threat intelligence, the adoption of cloud-based deception solutions, expansion into IoT and OT environments, the automation and orchestration of deception techniques, a greater emphasis on insider threat detection, the incorporation of machine learning and behavioral analysis, and a focus on user deception and identity protection.

The surge in cybersecurity concerns is poised to drive the growth of the deception technology market in the foreseeable future. Cybersecurity involves protection against cybercriminal assaults aimed at stealing data and sensitive information through malicious actions such as hacking and sending malicious information to compromise computer systems. Deception technology serves as a contemporary safeguard to prevent unauthorized access to information in a company's system, including employee databases. Fortune reported in October 2021 that the global number of data breach cases reached 1,291 in 2021, marking an increase from 1,108 in 2020. Cybercriminals predominantly use phishing and ransomware tools, contributing to a projected 17% increase in data breaches in 2021. The growing magnitude of cybersecurity concerns is a key driver fueling the growth of the deception technology market.

The rising number of data breach cases is anticipated to propel the deception technology market's growth. Data breaches involve unauthorized access, acquisition, disclosure, or use of sensitive information, posing significant threats to individuals and organizations. Deception technology plays a crucial role in mitigating the impact of data breaches by proactively detecting and deterring cyber threats. Astra Security reported in October 2023 that the average cost of a data breach increased by 2.6% to $4.35 million in 2022 from $4.24 million in 2021. Notably, data breaches exposed at least 42 million records between March 2021 and February 2022. The escalating number of data breach cases becomes a pivotal factor driving the growth of the deception technology market.

Technological innovation stands out as a prominent trend in the deception technology market, with major players focusing on creating advanced solutions to enhance their competitive position. For example, Zscaler Inc., a US-based company in deception technology, launched Zero Trust Network Access (ZTNA) Technology in March 2022. ZTNA technology is an IT security platform based on the zero-trust model, providing secure remote access to an organization's infrastructure. This technology is designed to reduce the risk of cyberattacks on cloud platforms, mitigate high-risk human-operated attacks, and ensure secure data and information sharing.

Major companies in the deception technology market are introducing innovative solutions to maintain their market standing, such as the Identity Threat Detection and Response (ITDR) solution. The ITDR solution, launched by Acalvio Technologies in February 2023, uniquely changes the environment to catch and counter cyber-attacks while gathering threat intelligence to understand attackers better. The solution integrates with existing security solutions, automatically deploying deception across the enterprise, detecting the use of decoy credentials, and enabling various automated real-time responses. This innovative solution strengthens identity security and addresses the challenges of identity theft in the evolving landscape of cybersecurity.

In May 2022, SentinelOne, Inc., a technology company based in the United States, successfully acquired Attivo Networks, Inc. The financial details of the transaction were not disclosed. This strategic acquisition is positioned to enhance SentinelOne's global service footprint and bolster its capabilities in the detection and prevention of cyber threats. The integration of Attivo Networks brings valuable assets, including advanced real-time infrastructure defense systems and a continuous identity assessment solution, enabling SentinelOne to further fortify its position in the cybersecurity landscape. Attivo Networks, Inc., the acquired entity, specializes in deception technology, and this acquisition reflects SentinelOne's commitment to advancing its capabilities and providing comprehensive solutions to counteract cyber threats.

Major companies operating in the deception technology market report are Illusive Networks Inc., Commvault Systems Inc., Rapid7 Inc., Akamai Technologies Inc., Fidelis Cybersecurity Inc., Zscaler Inc., Allure Security Technology Inc., CyberTrap Software GmbH, Acalvio Technologies Inc., CounterCraft Security, Cymmetria Inc., vArmour Inc., PacketViper LLC, WatchGuard Technologies Inc., Ridgeback Network Defense Inc., Fortinet Inc., RevBits LLC, Attivo Networks, Guardicore Ltd., LogRhythm Inc., Minerva Labs Ltd., Darktrace Limited, Smokescreen Technologies Private Limited, TopSpin Security Ltd., TrapX Security Inc., FireEye Inc., ARIA Cybersecurity Solutions LLC, Awake Security Inc., Cynet Ltd., and Cyphort Inc.

North America was the largest region in the deception technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the deception technology market report during the forecast period. The regions covered in the deception technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the deception technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key types of deception technology include application security, data security, endpoint security, and network security. Application security involves security measures implemented at the application level to prevent data or code theft or hijacking within the application. Components of deception technology include both solutions and services, catering to deployment in small and medium enterprises (SMEs) as well as large enterprises, with deployment options available both on-premise and in the cloud. Various industry verticals benefit from deception technology, including banking, financial services, and insurance (BFSI), energy and utilities, government, healthcare, telecom and IT, manufacturing, retail, and other sectors such as education and defense.

This report provides deception technology market statistics, including deception technology industry global market size, regional shares, competitors with a deception technology market share, detailed deception technology market segments, market trends and opportunities, and any further data you may need to thrive in the deception technology industry. This deception technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The deception technology market includes revenues earned by entities through consulting services, training and education, design and integration, and support and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The deception technology market also includes sales of domains, databases, directories, servers, apps, files, credentials, and breadcrumbs for providing deception technology services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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