Deception Technology Market Size, Strategies and Opportunities Forecast 2022-28

According to Precision Business Insights (PBI), the latest report, the deception technology market is expected to be valued at USD 1,543 million in 2022, growing at an 16.2% CAGR from 2022 to 2028. The primary driver of the expansion of the global Deception Technology market includes the rise in the use of cloud technology and the increase in the numerous amounts of cyber-attacks.

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Government Segment to Dominate the Deception Technology Market:
The government segment is expected to account for a larger revenue share in the global deception technology market, in upcoming years. Governmental bodies and institutions globally hold critical and sensitive information, which requires proper and safe security devices. Thus, cyber security has become one of the most significant aspects of the governmental sectors. The idea of e-governance has run the government to keep attention more on cyber security threats. Furthermore, as organizations are moving toward real-time communication, threats from web browsing, email communication, peer-to-peer traffic, and file conversation have getting increased. Thus, these applications push the deception technology market in the current time as well as in the following years. Deception technological products offer wide-ranging cyber deception platforms to government interventions to protect critical government data from insider and outsider threats. With time, Governmental bodies will become wholly digitized which requires utmost safety and security, which would expect the progressive expansion of the market in the forecasted period.

North America Deception Technology Market
North American market is expected to lead the global Deception Technology market over the forecast period as it holds a larger revenue in past years. North America dominated the deception technology market owing to the rising development of deception technology in major economies countries like Canada and the U.S. Various governmental bodies require safety and security for critical data, thus increasing the demand for deception technology products. Europe also witnessed holding the second-major share of the deception technology market globally by investing in technological advancement for security sectors. The Asia-Pacific region is also going towards progressive growth in the global deception technology market due to increased network security infrastructure in countries like Japan, India, China, South Korea in the IT and telecommunications sector, and banking sectors too.


Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Deception Technology market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Jan 2022, Honeywell and Acalvio Technologies launched a new solution designed to detect known and unknown (zero-day) attacks across the operational technology (OT) environments in commercial buildings. Honeywell Threat Defense Platform (HTDP) powered by Acalvio employed sophisticated active defense - highlighting autonomous deception tactics to outsmart attackers - and offers high-fidelity threat detection.

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The Deception Technology market is segmented based on component, service, deception stack, deployment mode, application, and geography.
Based on the component, the market is segmented into the following:
• Solution (a standalone platform)
• Services

Based on the service, the market is segmented into the following:
• Managed services
• Training and education
• Consulting services
• Support & maintenance
• Design & Integration

Based on the deception stack, the market is segmented into the following:
• Network security
• Application Security
• Endpoint security
• Data Security

Based on the deployment mode, the market is segmented into the following:
• Cloud
• On-premises

Based on the application, the market is segmented into the following:
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Government
• Energy & Utilities
• Manufacturing
• Telecom and IT
• Retail
• Others (education and defenses)

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the deception technology market report are Allure Security Technology, Inc. (New York, U.S.), Attivo Networks, Inc. (California, U.S.), Guardicore (Tel Aviv, Israel), Rapid7, Inc. (Massachusetts, U.S), Illusive Networks, Inc. (New York, U.S.), Trapx Security (Massachusetts, U.S.), Cyber Trap Software GmbH (Vienna, Austria), LogRhythm, Inc. (Boulder, U.S.), Packet Viper (Pennsylvania, U.S.), Fidelis Cybersecurity (Maryland, U.S).

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This release was published on openPR.