The post Deception Technology Market Is Projected To Reach A Valuation Of Us$ 7.5 Billion By 2033 appeared first on Newstrail.com authored by Fact.MR

The global Deception technology market is predicted to grow at an astounding 14.1% CAGR and reach a value of US$ 7.5 billion by the end of 2033, up from US$ 2 billion in 2023.

Deception technology is vital in securing an organization’s critical data by creating realistic-but-fake assets such as domains, databases, servers, files, credentials, applications, cookies, and other assets that are deployed in the network alongside actual assets.

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It is difficult to tell the difference between real assets and decoys. When an attacker interacts with a decoy, a silent alarm is set off, alerting the system of the attacker’s intentions.

Businesses that utilize deception solutions have higher levels of security, safety, and dependability. Furthermore, because the system has a cheap starting cost, it is frequently employed in small and medium-sized organizations. IT infrastructure has always been in constant flux. Because of the rising need for new technologies such as secure access services and zero trust, IT organizations want to integrate new solutions in their network architecture.

Competitive Landscape:

Due to the presence of multiple small and large businesses, the market for deception technology solutions is quite competitive. To increase their reach and maintain a competitive edge, key companies in the deception technology industry are exploring techniques such as mergers and acquisitions and product innovation. Furthermore, many entrepreneurs are looking for funding to expand their market presence.

Illusive Networks, a start-up based in Tel Aviv, Israel, revealed in December 2022 that it had raised a total of US$ 54 million in venture capital investments since its inception. Illusive Networks was one of the first companies to develop so-called cyber deception solutions, which claimed early breach detection through the use of decoy assets that triggered warnings. The company marketed a product that produced a “hostile environment for attackers” with the goal of preventing lateral movement on already compromised networks.

Acalvio Technologies, the pioneer in cyber deception, revealed in April 2022 that the FedRamp Ready ShadowPlex platform had been added to the Department of Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) Approved Products List (APL).

Key Players:

• Acalvio Technologies, Inc
• CYBERTRAP Software GmbH
• Allure Security Technology, Inc
• CounterCraft SL
• Attivo Networks, Inc
• Cymmetria, Inc

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Regional Analysis:

 In 2022, the North American market was valued $830 million. Because of the region’s high demand for cybercrime prevention and control systems, North America is the most important region for deception technology. Furthermore, the region has the highest rate of IoT technology adoption, resulting in a growing need for data protection.

Furthermore, the growing use of smart devices, as well as an increase in the use of social apps, which generate a big amount of data holding crucial information, are two major developments boosting demand for deception technology in North America.

Asia Pacific is seeing an increase in demand for deception technology. Japan and South Korea are driving Asia Pacific market expansion. In Japan and South Korea, the increasing use of internet of things (IoT) devices, the growing trend of bring your own device (BYOD), and rising urbanization are driving up demand for deception technologies.

Key Segments of Industry:

• By Component :
  • Solutions
  • Services
• By Deception Stack :
  • Network Security
  • Application Security
  • Data Security
  • Endpoint Security
• By Deployment :
  • On-premise
  • Cloud
• By End User :
  • BFSI
  • IT & Telecom
  • Government
  • Retail
  • Energy & Utilities
  • Others

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