Deception Technology Market to Hit $3.32 Billion by 2025: A Recent Market Analysis
How Has The Deception
Technology Market Grown Historically and What is The Future Projection?
The deception technology market
size has gained prominence in recent years due to increasing cybersecurity
concerns. The market has grown from $2.9 billion in 2024 to a projected $3.32
billion in 2025, growing at a compound annual growth rate (CAGR) of 14.6%.
Primary growth drivers in the historic period include the need for early threat
detection, growing insider threat concerns, shortage of cybersecurity talent,
regulatory compliance requirements and rise in social engineering attacks among
others.
Anticipating the future, the
deception technology market size is expected to see continued growth. It is
forecasted to reach $6.2 billion in 2029 at a CAGR of 16.9%. The growth in the
forecast period can be attributed to critical factors such as the integration
with security orchestration, applications in healthcare security, increased
sophistication of malware, and the adoption in government and defense sector.
Major trends emerging in the forecast period include cloud-based deception
solutions, expansion to IoT and IT environments, and machine learning and
behavioral analysis.
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What Factors Are Propelling The
Growth of The Deception Technology Market?
A significant driver for the
growth of the deception technology market is the increasing cybersecurity
concerns. Cybersecurity methods are constantly improving to combat hackers and
cybercriminals attempting to steal data. Deception technology has become an
efficient tool, used to prevent unauthorized access to sensitive information
from the company's system. For instance, in 2024, the Identity Theft Resource
Center (ITRC) reported a 78% increase in data breaches compared to the previous
year, affecting approximately 353,027,892 victims. The escalating cybersecurity
concerns are undeniably driving the growth of the deception technology market.
Which Are The Major Segments In
The Deception Technology Market?
The deception technology market
covered in this report is segmented as follows:
1) By Deception Stack: Application
Security, Data Security, Endpoint Security, and Network Security.
2) By Component: Solution,
Services.
3) By Organization Size: Small and
Medium Enterprises (SMEs), Large Enterprises.
4) By Deployment Mode: On-Premise,
Cloud-Based.
5) By Vertical: Banking, Financial
Services, and Insurance (BFSI), Energy and Utilities, Government, Healthcare,
Telecom and IT, Manufacturing, Retail, Other Verticals (Education, Defense, and
Others).
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Who Are The Major Players In
The Deception Technology Market?
Major companies operating in the
deception technology market include Illusive Networks Inc., Rapid7 Inc.,
Fidelis Cybersecurity Inc., Allure Security Technology Inc., CyberTrap Software
GmbH, Acalvio Technologies Inc., CounterCraft Security, Cymmetria Inc.,
PacketViper LLC, Ridgeback Network Defense Inc., Fortinet Inc., RevBits LLC,
Attivo Networks, Guardicore Ltd, Minerva Labs Ltd., Darktrace Limited,
Smokescreen Technologies Private Limited, TopSpin Security Ltd., TrapX Security
Inc., FireEye Inc., ARIA Cybersecurity Solutions LLC, Awake Security Inc., and
Cynet Ltd.
What Are Emerging Trends In The
Deception Technology Market?
Continuous technological
innovation is a trending factor in the deception technology market. Major
players are focusing on introducing new technological advancements to maintain
their competitive edge. For example, in March 2022, Zscaler Inc., a leading player
in the market, launched Zero Trust Network Access (ZTNA) Technology. This
technology accelerates the mitigation of cyberattacks on cloud platforms and
promotes secure data and information sharing.
Which Are The Top Performing
Regions In The Deception Technology Market?
In 2024, North America proved to
be the largest region in the deception technology market with Asia-Pacific
expected to be the fastest-growing region in the forthcoming years. The report
covers all geographical regions including Asia-Pacific, Western Europe, Eastern
Europe, North America, South America, Middle East, and Africa.
What Does The Deception
Technology Market Report 2025 Offer?
Deception technology refers to
tools and software used to deceive cybercriminals by trapping and monitoring
their activity. The technology is essential for identifying suspicious
activities of cyberattacks and providing insights into the tactics and strategies
of cybercriminals. The Deception Technology Market research report from The
Business Research Company offers insights into the market's global size, growth
rate, regional shares, competitor analysis, detailed segments, trends, and
opportunities critical for informed decision-making.
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