Deception Technology Market – Growth, Trends, and Forecast (2020 – 2025)

NEW YORK, April 9, 2020 /PRNewswire/ —

The Deception Technology Market was valued at USD 1.19 billion in 2019 and is expected to reach USD 2.48 billion by 2025, at a CAGR of 13.3% over the forecast period 2020 – 2025. Deception technology is an advanced security solution to detect and prevent targeted attacks. Deceptions are achieved through the usage of purposeful obstructions, false responses, misdirection, and forgery.

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– Owing to the higher level of cyber threats, there is an increasing need from the organizations to detect and mitigate advanced risks that have already breached the network. This is boosting the adoption of deception technology.
– The current security tools are effective at flagging up anomalies but are not significant at defining their impact and risk potential. These tools result in the generation of many alerts, most of which are needed to be investigated by security teams despite many of them being a waste of time. The resources are spent wastefully assessing these false threats, while the real and present threats can be missed out. By altering the asymmetry of an attack, deception technology helps the security teams to focus on real threats to the network. The scenarios like these have been aiding the deception technology to gain momentum over the past five years.
– Currently, many deception solutions have AI and machine learning (ML) built into their core. These features not only ensure that deception techniques are kept dynamic but also help in the reduction of the operational overheads and the impact on security teams, by freeing them from continually creating new deception campaigns. For instance, in October 2019, CSIRO’s Data61 signed a significant research project with the cybersecurity firm, Penten, to build AI-enabled cybersecurity defense technology, also known as deception technology that includes cyber traps and decoys. The research will focus on extending Penten’s work on applying AI to tackle cyber attackers, using deception technology.

Key Market Trends
Government Sector to Witness Significant Market Growth

– Deception technology offers government entities the foundation for an active defense that provides early and accurate detection of in-network threats and the ability to respond to them quickly and decisively. Recognizing the importance of deploying deception to protect critical information, the National Institute of Standards and Technology has included it in drafts of SP 800-160 and 800-171b.
– The rise of Advanced Persistent Threat (APT) attacks in government is expected to create opportunities for the market over the forecast period. For instance, A prominent attack was code-named Deep Panda and compromised over 4 million US personnel records, which might have included details about secret service staff. Deep Panda is an APT attack against the US Government’s Office of Personnel Management, probably originating from China.
– The increasing investments from the government or related regulatory bodies to further prevent the cybercrime onslaught is expected to boost the adoption of the deception technologies over the forecast period. In April 2019, the NPCC National Cybercrime Program announced a multi-million-pound investment from the UK Government, which states that every police force in England and Wales would have a dedicated cybercrime unit in place.

North America Occupies the Largest Market Share

– North America is the largest region for the deception technologies, as the region has a high demand for protection and control systems against cybercrimes. Also, the region has the highest adoption rate of IoT technologies leading to a growing need for data security.
– The major trends responsible for the growth of deception technology in the North American region include the growing number of smartphone devices and an increase in the adoption of social apps, which generate ample data that contain valuable information. This has significantly increased the risk of cyber threats.
– The cyberattacks in the United States have increased dramatically over the past few years. For instance, in March 2020, the US Health and Human Services Department suffered a cyber-attack on its computer system, part of what people familiar with the incident called a campaign of disruption and disinformation that was aimed at undermining the response to the coronavirus pandemic and may have been the work of a foreign actor.
– With the availability of adequate infrastructure, the presence of numerous global financial institutions, high frequency of cyber-attacks, and increased adoption of connected technologies are expected to drive the growth of the deception technology market in the North American region.

Competitive Landscape
The deception technology market is highly competitive, owing to the presence of many small and large players in the market. The market is moderately concentrated with the key players adopting strategies, like product innovation and mergers and acquisitions, to extend their reach and stay ahead of the competition. Some of the key players in the market are Symantec Corporation, Rapid7 LLC, and WatchGuard Technologies Inc., among others.

– March 2020 – Attivo Networks and Seminole State College of Florida announced a joint initiative aimed at closing the global cybersecurity skills gap. Beginning Fall 2020, Seminole State College would be among the first institutions of higher education in the United States to incorporate threat deception instruction into the cybersecurity specialization component of its associate and bachelor’s degree programs in Information Systems Technology.
– February 2020 – GuardiCore announced several new capabilities in its Guardicore Centra Security Platform designed to help security architects visualize, segment, and protect cloud-native applications, while further simplifying the process for reducing risk to mission-critical business applications through segmentation. The company expanded its Centra Security Platform.

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