Deception Technology Market: Current Analysis and Forecast (2022-2028)

Report Description

The global Deception Technology Market is expected to grow at a growth rate of around 13% during the forecast period. Deception techniques are cybersecurity defense techniques aimed at deceiving attackers by deploying a series of traps and decoys throughout a system’s infrastructure to impersonate real assets. When an intruder triggers a decoy, the server records and monitors the attack vectors used during the intrusion. The global deception technology market is growing rapidly on the account of the rising APTs and Zero-Day attacks, the growing need for effective solutions for early detection of attackers, and the rising adoption of IoT within enterprises. Moreover, factors such as the integration of deception technology in virtual environments, quickly growing cybersecurity threats, and rising spending on cybersecurity by various organizations and governments are also contributing to the growth of the market. For instance, JPMorgan Chase spends USD 600 Mn on cybersecurity every year, Microsoft invests USD 1 billion annually on cybersecurity, the US government’s 2021 budget for cybersecurity was USD 8.64 Bn, etc.

Some of the major players operating in the market include Rapid7 Inc., LogRhythm Inc., Commvault Systems Inc., Akamai Technologies Inc., Allure Security Technology, CloudPassage Inc., vArmour Inc., Zscaler Inc., Acalvio Technologies Inc., and WatchGuard Technologies Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst deployment, on-premises deployment segment to witness robust CAGR during the forecast period”

Based on deployment, the market is divided into on-premises and cloud. The on-premises segment catered to a prominent share of the global deception technology market. Flexibility, data security, high speed, and low latency are the most prominent factors driving the growth of this segment. The on-premises deployment provides physical control to the enterprises over the data, it keeps access to critical data limited to the enterprises only.

“Amongst organization size, the SMEs segment to hold a significant share in the market in 2020”

Based on organization size, the market is classified into large enterprises and SMEs. The SMEs segment is expected to grow substantially during the forecast period because with the help of deception technology enterprises protect and secure the most critical data for their businesses. Deception technology is fundamentally important to all sizes of businesses. Furthermore, most enterprises are looking for deception technology solutions to protect and secure their data from any type of data loss or disaster, providing opportunities to major data resiliency market players.

“North America held a significant share in the market in 2020”

North America is the largest region for deception technology due to the high need for protection and control systems against cybercrime. The region also has the highest adoption rate of IoT technology, increasing the need for data security. Hence catalyzing the adoption of deception technology in the region. Moreover, factors such as the rapid development and adoption of emerging technologies and the presence of the key market player in the region are also expected to contribute to the growth of the deception technology market.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global deception technology market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Deception Technology Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global deception technology market were the three major steps undertaken to create and analyze the adoption of deception technology in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global deception technology market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the deception technology market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the deception technology market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, deception stack, deployment, organization size, and industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the deception technology market. Further, we conducted factor analysis using dependent and independent variables such as component, deception stack, deployment, organization size, and industry of deception technology. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the deception technology market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global deception technology market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the deception technology market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global deception technology market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global deception technology market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, deception stack, deployment, organization size, and industry in the global deception technology market.

The main objective of the Global Deception Technology Market Study

The current & future market trends of the global deception technology market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the deception technology market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of component, deception stack, deployment, organization size, and industry
• Define and analysis of the regulatory framework for the deception technology industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the deception technology market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the deception technology market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
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