Deception technology is a standalone platform that implements effective traps to monitor the suspicious activities in the attack chain, and provides deep understanding of the attacker’s behavior. The platform protects networks, endpoints, and devices from various malicious attacks, sophisticated cybercriminals, ransomwares, and Advanced Persistent Threats (APTs). MarketsandMarkets forecasts that the deception technology market size will grow from USD 1.04 Billion in 2016 to USD 2.087 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 15.1%. The sophistication level in the cyber-attacks is increasing and creating demands for more comprehensive security solutions that would provide early detection of the threats
The key players in the deception technology market include Rapid7, Inc. (U.S.), LogRhythm, Inc. (U.S.), TrapX Security (U.S.), Attivo Networks (U.S.), Illusive Networks (Israel), Cymmetria, Inc. (Israel), GuardiCore (Israel), Allure Security Technology (U.S.), TopSpin Security (Israel), vArmour (U.S.), and Smokescreen Technologies (India). These players have adopted various strategies such as partnerships, agreements, business expansions, and new product developments to achieve growth in the global deception technology market.
The deception technology market witnessed a lot of partnerships, agreements, and collaborations by key players from 2014 to 2016. Attivo Networks teamed up with Check Point Software to enhance detection and prevention of advanced cyber threats developing advanced solutions. LogRhythm announced a resale partnership with Dell EMC to deliver advanced security solutions to clients. vArmour teamed up with DarkMatter to develop and deliver integrated unique software-based segmentation.
The key players also adopted the strategy of business expansions to increase their geographic presence and expand their product portfolio to untapped markets. Rapid7 announced to offer its Strategic Advisory Services in the Europe, the Middle East and Africa (EMEA) region to help organizations tackle cyber security challenges. TrapX Security opened a new Hong Kong office which enabled TrapX to successfully deliver its deception-based security platform to the Asia-Pacific customers. Moreover, Attivo Networks opened an office in the Middle East which focused on delivering security solutions to the customers in the Middle East, Turkey, and Africa.
The major players also launched new products to strengthen their product portfolio and expand their offerings to newer clients. In 2016, Illusive Networks launched cyber deception technology solution, called Wire Transfer Guard that helped to identify, analyze, and mitigate advanced targeted cyber breaches. Furthermore, vArmour unveiled a new, simple, scalable, and secure cyber deception solution, called vArmour DSS Deception to protect next generation of data centers. In addition, Rapid7 launched InsightIDR, a new deception technology platform including behavior analytics, endpoint detection, and intruder traps capabilities.
Cyber deception vendors are continuously adding innovation to their products and services to protect sensitive applications, networks, and connected devices from real-time behavioral anomalies & advanced threats. Furthermore, cyber deception solutions are being increasingly adopted in various verticals, such as Banking, Financial Services, and Insurance (BFSI); energy & utilities; government; healthcare; IT & telecom; manufacturing; and retail, which have led to the growth of the market, across the globe.
Related Reports:Deception Technology Market by Component (Solution, and Services (Professional and Managed)), Deception Stack (Application, Data, Endpoint, and Network), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2021
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