The Deception Technology Market is estimated to register a CAGR of 13.08% during the forecast period (2019 – 2024). Owing to the increasing number of data breaches and profound cyber-attacks across the world, the need for an advanced security infrastructure that can withstand and counter such network security breaches is driving the market.

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– The current security tools are effective at flagging up anomalies but are not significant at defining their impact and risk potential. These tools result in the generation of many alerts, most of which are needed to be investigated by security teams despite many of them being a waste of time. The resources are spent wastefully assessing these false threats, while the real and present threats can be missed out.

– The scenarios like these are aiding deception technology to gain momentum over the past few years. The inception technology is revolutionizing the security field that disables the malware attacks by deceiving them in their own operations and defending the enterprises from such attacks.

– These advanced deceptive technology solutions are expected to save billions of dollars against the threats of the cyber-attacks globally. The technology also supports the need for a secure platform to protect both public and private infrastructure security necessities.

– Small and medium businesses, which are more prone to attacks, are finding the need to deploy better security systems. However, the affordability acts as a restraint in hiring in-house, full-time security professionals.

Competitive Landscape

The deception technology market is highly competitive, owing to the presence of many small and large players in the market. The market is moderately concentrated with the key players adopting strategies, like product innovation and mergers and acquisitions, to extend their reach and stay ahead of the competition.

Some of the key players in the market are Symantec Corporation, Rapid7 LLC, and WatchGuard Technologies Inc., among others.

– May 2019 – TRAPX Security released version 6.3 of its Deception Grid platform. It is an army of the artificial user that can expose cyberattackers. Deception Grid 6.3 has some groundbreaking technologies, such as artificial users, hacker tracker, and build your own trap.

– April 2019 – Illusive Networks released the Attack Surface Manager Spotlight Edition, a turn-key solution that provides security teams with the ability to quickly discover, visualize, and remove a variety of high-risk cached credential and connection information that fuel targeted ransomware attacks and allow attackers to ‘live off the land’ after breaking into the company networks.

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Scope of the Report

The aim of deception technology is to prevent the cybercriminals from entering a network for doing any significant damage. The technology works by generating traps that replicate the legitimate technological assets of the firm. These traps run in a virtual or real operating system environment and are designed to trick the cybercriminal into thinking that they can discover a way to steal data and important credentials.

Key Market Trends

Medical Sector to Witness High Growth

– The advancements in technology have led to the usage of digital technologies in the healthcare sector, which is used to develop an end-user experience. With the generation of huge patient data and medical records, it is very important to secure the data. This aforementioned need is driving the market studied in this sector. – Despite the high level of threats in the healthcare sector, the security (in terms of cybersecurity and other breaches) is still underrated and the industry hasn’t been proactive in securing its data with the new technologies. – The increasing adoption of the wearable devices, coupled with the advent of the IoT in this sector, has resulted in the generation of large amount of data that tenders to the patient’s health and vitals. This makes it prominent for the adopters to have technologies, like deception technology, to prevent any misconduct

– The growing number of cyber attacks in the healthcare sector, as well as a large number of stolen record alerts being detected by the different external sources, are the factors driving the growth of the market for deception technology.