Market Highlights
The need for robust security tools and techniques is estimated to drive the deception technology market in 2020. The technology reports are produced by Market Research Future, which contains market alternatives for progress. The earnings point of USD 2.3 Billion is projected to be attained at 14% of CAGR by 2022.
The expanding nature of advanced persistent threats is estimated to add to the momentum of the deception technology market’s growth in the future. The escalation in the use of the Internet of Things (IoT) and, along with it, Bring Your Own Device (BYOD) is likely to enhance the deception technology market size in the coming years.
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Segmentation:
The segmental investigation of the deception technology market is carried out on the basis of component, deception stack, deployment mode, end-user, and region. Based on the component, the deception technology market comprises of solutions and services. The service segment is additionally segmented into system integration, support and maintenance, consulting, and professional services. On the basis of the deception stack, the deception technology market comprises of data security, application security, network security, and endpoint security. On the basis of the deployment models, the deception technology market comprises of cloud and on-premise models. Based on the End-user, the deception technology market comprises of BFSI, Healthcare, retail, transport, government, telecom, and others. Based on the regions, the deception technology market comprises of North America, Europe, Asia Pacific and the rest of the regions in the world.
Detailed Regional Analysis
The regional examination of the deception technology market encompasses regions such as North America, Europe, Asia Pacific, and the rest of the regions in the world. The study points out that the North American region would control the deception technology market by the forecast period shadowed by the regional market in Europe due to the significant advances in the field of deception technology observed in nations such as the U.S. and Canada. The analysis also designates that the U.S. and Canada are the hubs of big as well as start-ups vendors in the North American region. The study indicates that Asia Pacific countries like South Korea, China, Japan, India, and others are greatly financing in network security infrastructure by companies in BFSI and IT & Telecom sectors. The study discloses that the Asia Pacific region would display a positive development in the deception technology market through the forecast period.
Competitive Analysis
The market is expected to revitalize its options for development as it overcomes this period of uncertainty in a careful and calibrated manner, the enhancement of the supply chains is estimated to focus on the incorporation of robotic assets so as to broaden the scope of supply that can be expected from the market on the whole. The competition in the market is estimated to be focused on mitigating the effect of external forces rather than exclusively dealing with internal competition. The government role is estimated to be pronounced in the near term as their backing is essential to get the growth of regional markets on track. The market is also expected to emphasize on innovation to amplify the development scope in the global market. The need to integrate is projected to become even more prominent in the market in the upcoming period. The market is in a stage that requires careful and strategic planning to ensure that the growth achieved thus far is not compromised.
The recognized players in the deception technology market are Attivo Networks (U.S.), TopSpin Security (Israel), Smokescreen Technologies (India), Allure Security Technology (U.S.), Guardicore (Israel), Cymmetria, Inc. (Israel), Illusive Networks (Israel), LogRhythm Inc. (U.S), TrapX Security (U.S.), Rapid7, Inc. (U.S.) and vArmour (U.S.) among others.
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Deception Technology Market, By Component (Service, Solution), By Deception Stack (Application Security, Data Security, Network Security, Endpoint Security), By Deployment (Cloud, On-Premise), By End-User (Manufacturing, Healthcare, BFSI, Transportation, Government, Retail) - Forecast 2027
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