According to the report published by Allied Market Research, the global deception technology market generated $1.8 billion in 2021, and is projected to reach $5.8 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.
Surge in advanced persistent threat, rise in need for effective solutions for early detection of attackers, and increase in adoption of innovative technologies such as IoT to drive the growth of the global deception technology market. Increase in use of deception technology to enable enterprises to address security issues and facilitate secured information access while remote working during pandemic had a positive impact on the growth of the global market.
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The report offers detailed segmentation of the global deception technology market based on offering, deception stack, enterprise size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on offering, the solution segment held the largest market share in 2021, holding around two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The service segment, on the other hand, is expected to cite the fastest CAGR of 13.5% during the forecast period.
Based on deception stack, the network security segment held the dominating market share in 2021, holding half of the global market, and is expected to maintain its leadership status during the forecast period. The application security segment, on the other hand, is expected to cite the fastest CAGR of 14.2% during the forecast period.
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Based on industry vertical, the BFSI segment held the largest market share in 2021, holding nearly one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. The healthcare segment, on the other hand, is expected to cite the fastest CAGR of 15.7% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding more than one-third of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 14.3% during the forecast period.
The key players analysed in the global deception technology market report include Allure Security Technology, Inc, Attivo Networks, Inc, Acalvio, CYBERTRAP Software GmbH, CounterCraft, Fidelis Cybersecurity, Guardicore Ltd, Illusive Networks, LogRhythm, Inc, Minerva Labs, PacketViper, Rapid7, Smokescreen Technologies, Inc, TopSpin Security, Trapx Security, vArmour, and WatchGuard Technologies.
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The report analyzes these key players in the global deception technology market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us and is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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