The deception technology market is expected to grow in the coming years.Technology Market - Forecasts from 2018 to 2023” studies the various factors affecting the demand for deception technology solutions among end-users worldwide. The market has been segmented by offering (solution, services), deployment model (on-premise, cloud), enterprise size (small, medium, large), application (application security, data security, endpoint security, network security), and end-user industry (BFSI, communication and technology, retail, government, military and defense, others).
Furthermore, the demand for deception technology has been estimated across all major geographies namely North America, South America, Europe, Middle East and Africa, and the Asia Pacific. To give a clearer view of this market across these geographies, the regional market is further segmented into countries which account for a significant share in the market. The growth of this market is being driven rising severity and incidence of cyber-attacks across the globe. The increasing reliance of businesses on technology, on account of increasing penetration of digital technologies into business processes, is one of the major factors shaping the growth of this market. Any occurrence of cyber-attack can have the impact of varying degree on the operations of a company and may lead to loss of a significant share of their revenue. Cyber-attacks on government agencies can put national security at risk and this has been pushing these end users towards more advanced technologies for the security of the IT environment, thus increasing the demand for deception technology solutions. Availability of a good number of market players across regions, offering these solutions and services to enterprises at affordable prices, is supporting the growth of this market.
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By enterprise size, large enterprises hold the lion’s share
Large enterprises hold the largest share among end-user enterprises of all sizes in this market on account of higher reliance of these enterprises on technology and thus, heavier losses associated with the occurrence of cyber-attacks. Huge IT budgets in large enterprises, which put them in a position strong enough to allow them to make investments in skilled workforce required for deployment of advanced technologies for security, is supporting the adoption of these solutions among large enterprises. Small and medium enterprises also hold a significant share in this market and are expected to show good growth over the projected period.
North America and Europe are the major markets for deception technology
Enterprises in North America and Europe, being early adopters of new technologies, together contribute to the largest market share held by these two regions among all major geographies worldwide. Flourishing industries in these regions are showing an impressive increase in the adoption of this technology. The market in the Asia Pacific is poised to witness good growth over the projected period as industries in this region continue to witness a very heavy inflow of investments by industry players.
This report also includes a study of strategies and product portfolios of some of the leading companies in the deception technology market. Major companies profiled as a part of this report are Rapid7 LLC, TRAPX Security, Attivo Networks, Illusive Networks, eSec Forte Technologies Pvt. Ltd., GuardiCore, Allure Security Technology, Fidelis Cybersecurity, vArmour, Smokescreen Technologies.
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