New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Deception Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06445268/?utm_source=GNW
Key Highlights
Owing to the higher level of cyber threats, there is an increasing need for organizations to detect and mitigate advanced risks that have already breached the network. It is boosting deception technology adoption.
The current security tools have been effective at flagging anomalies but need to be more significant in defining their impact and risk potential. These tools generate many alerts, most of which must 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 must be addressed. By altering the asymmetry of an attack, deception technology helps security teams to focus on real threats to the network. Scenes like these have aided the deception technology to gain momentum over the forecast period.
Many deception solutions have AI and machine learning (ML) built into their core. These features ensure that deception techniques are kept dynamic and help reduce the operational overheads and the impact on security teams by freeing them from continually creating new deception campaigns.
There was a sharp rise in cyberattacks harming individuals, businesses, and organizations during the COVID-19 outbreak. Consequently, several impacted enterprises are investing in upgrading outdated systems, thereby contributing to the deception technology market. For instance, the US Department of Homeland Security warned about emerging pandemic-related cybercriminals and advanced persistent threat groups. Interpol released a warning about criminals deliberately targeting medical facilities.
Deception Technology 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 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 studied over the forecast period. For instance, in October last year, the federal government gave CounterCraft a contract to develop a new deception platform that the whole Department of Defense will use. The GSA awarded the agreement, which includes a maximum potential value of USD 26 million. It would allow DoD component agencies access to the vendor’s patented deception platform for network traffic monitoring and detecting rogue hackers attacking defense networks.
Federal procurement records show that the contract is intended to accomplish three things: provide deception capabilities that can identify unwanted access to U.S. government networks, notify agencies, and research attackers; assist the integration of the solution into U.S. government networks with the potential to add additional components or grow the platform over time; and instruct agencies on how to set up and use the platform to strengthen threat intelligence on the internet.
Therefore, the growing number of data breaches and significant losses, as indicated below, alongside the increasing investments from the government or related regulatory bodies to further prevent the cybercrime onslaught, is expected to boost the deception technologies adoption over the forecast period.
North America Occupies the Largest Market Share
North America is the largest region for deception technologies, as the area includes high demand for protection and control systems against cybercrimes. Also, the province consists of the highest adoption rate of IoT technologies, leading to a growing need for data security.
The major trends responsible for the deception technology growth in the North American region include the growing number of smartphone devices and increased social app adoption, which generate comprehensive data that contain valuable information. It significantly increased the cyber threat risks.
Adequate infrastructure availability, the presence of numerous global financial institutions, the high frequency of cyberattacks, and the increasingly connected technologies adoption are expected to drive the growth of the deception technology market in the North American region.
Further, the region’s growing product innovations are also contributing to the market growth rate. For instance, in April last year, the cloud security firm Zscaler, based in California, announced Zscaler Deception. This deception-based threat detection platform can spot intricate attacks without adding extra workload or producing false positives. Introducing deception technologies to the Zscaler Zero Trust Exchange increases the environment’s ability to deceive users and draw in attackers.
Additionally, the growing government efforts are contributing to the region’s market growth rate. For instance, the Canadian Centre for Cyber Security (Cyber Centre) is Canada’s technical authority on cyber security. To plan for, respond to, mitigate, and recover from cyber events, the Cyber Centre works closely with departments of the Canadian government, vital infrastructure, Canadian enterprises, and international partners. The Cyber Centre is receptive to partnerships that contribute to developing a more robust and resilient cyberspace in Canada. The Cyber Centre represents a more collaborative approach to cyber security in the nation, keeping with the National Cyber Security Strategy. Threats continue to evolve at the same quick pace that technology does. In collaboration with business, academia, and all levels of government, the Cyber Centre is making significant efforts to improve cybersecurity capabilities across Canada.
Deception Technology Industry Overview
The deception technology market is highly competitive, owing to many small and large players. The market studied 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 Attivo Networks Inc., Rapid7 LLC, and Smokescreen Technologies, among others.
January 2022 - Honeywell added Active Defense And Deception Technology Solution to its OT Cybersecurity Portfolio. Honeywell and Acalvio Technologies have announced the release of a new solution aimed at detecting known and unknown assaults in commercial building operational technology (OT) systems. With autonomous deception techniques to outsmart attackers, the Honeywell Threat Protection Platform (HTDP) powered by Acalvio uses advanced, active defense and offers high-fidelity threat detection.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06445268/?utm_source=GNW
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