According to a new market report published by Credence Research, Inc., “Global Deception Technology Market (By Component (Solution and Services), By Deception Stack (Application Security, Data Security, Endpoint Security and Network Security), By Deployment Mode (On-premise and Cloud), By End-use Vertical (Banking, Financial Services & Insurance (BFSI), Energy & Utilities, Government, Healthcare, IT & Telecom, Manufacturing, Retail, and Others)) - Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global deception technology market is expected to witness a growth of 10.9% CAGR during the forecast period from 2019 to 2027.
The global deception technology market accounted for a market size of US$ 1.29 Bn in 2018 and is likely to register a considerable growth, growing at a CAGR of 10.9% during the forecast period from 2019 to 2027. Growing instances of cyber-attacks is augmenting the deception technology market. Deception technology is one unique technology in which an organization can securely witness occurrences reveal.
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On the basis of deception stack, the network security segment accounted for the majority share in the overall deception technology market in 2018. Deception technology provides protectors an exceptional gain against the attackers by doing somewhat additional that other methods of cyber security don’t. It helps providing a precise and timely detection by positioning a minefield of smart decoy systems and content to trip up the attackers. All of this is done within the establishment’s setups and aids as a high-fidelity cautioning system of attacks that have detoured perimeter security controls.
Major players in the deception technology market include Allure Security Technology, Attivo Networks, Cymmetria, Inc., GuardiCore, Illusive Networks, LogRhythm, Inc., Rapid7, Inc., Shadow Networks, Smokescreen Technologies, TopSpin Security, TrapX Security, and vArmour among others. The major players are taking up strategies such as partnerships, product innovation, etc. to have an upper hand in the competitive market surroundings.