Cyber Deception Market Size

Cyber Deception Market Analysis

The cyber deception market is expected to witness a CAGR of 15.45%, during the forecast period (2021 - 2026). With the increasing number of internet and smartphone users across the globe, system breach is a common activity carried out by cyber-hackers to extract sensitive information, which can lead to unwanted cyber-attacks. Deception network, also called honeypot or decoy, is utilized to divert these kinds of attacks to other nodes and offer prior warnings to the administrator.

• The increasing adoption of the Internet of Things (IoT) is highlighting the cyber deception technology and promoting high usage, over conventional cybersecurity.
• Cyber deception market is driven by a rise in APT and zero-day attacks lined with the need for effective solutions for early detection of cyber attackers. Penetration of online as well as ATM transaction is influencing growth of cyber deception market in BFSI sector.
• Moreover, growing government funding in the financial industry across the world is likely to translate into growth of cyber deception market. The omnipresence of online and digital data and growth in cloud-based technology increases the vulnerability of these data, which in turn accelerates the growth of the cyber deception market.
• On the contrary, increasing use of pirated network tools in several emerging economies along with lack of cyber expertise will be one of the growth restraining determinant of the cyber deception market. Limitation of budget allocation in IT organizations and inability to meet technical requirements of the deceptive security tools are likely to hinder the cyber deception market.