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Rising Threat of Cyber-attacks to Fuel Demand for Deception Technology

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Published on : Sep 08, 2016

ALBANY, New York, September 08, 2016: ResearchMoz.us has announced the addition of a new report, titled “Global Deception Technology Market 2016-2020” to its repository of market studies on technology. It analyzes various factors having implication on the global deception technology market in detail. The trends favoring the market’s expansion and those dampening its growth are studied in detail. The report also highlights the potential opportunities, which the key players can capitalize on in the near future. 

The report predicts the global deception technology market to grow at a robust pace between 2016 and 2020. According to the report, the rising uptake of bring your own device (BYOD) policy among enterprises to be the key factor fuelling demand for the deception technology. The implementation of BYOD policy allows employees to use their personal devices for professional purposes. This is intended to enable employees work from remote locations if required. This policy has also demonstrated impressive success rate by improving the employee productivity and reducing the operational cost incurred by companies. 

The BYOD policy is also known to have helped organizations to expand their geographical reach. Small and medium scale companies are compelled to adopt the BYOD policy due to the awareness about diverse benefits it offers. On the flip side, since employees use wireless networks to access confidential information, they are more exposed to cyber-attacks. This however is increasing the demand for IT security solutions such as the deception technology. 

There are two deployment models of deploying the deception technology. These include cloud-based and on-premise model. The latter model requires high investments, whereas the deployment using the cloud is cost-effective, but has recorded instances of information loss. This will create demand for hybrid models to ensure adequate on-premise data protection, which in turn is expected to reduce the operational cost incurred by organizations. 

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Regionally, the report segments the global deception technology market into the Americas, APAC, and EMEA. Among these regions, Americas dominated the market in 2015. In the last few years Americas have witnessed several incidents of cyber-attacks across sectors such as telecommunications, BFSI, and retail. This is a key factor fuelling deployment of security solutions such as the deception technology in the region. 

To study the competition prevailing in the market, the report has profiled companies such as CyberTrap, Allure Security Technology, ForeScout, Illusive Networks, Hexis Cyber Solutions, LogRhythm, Shape Security, TopSpin Security, Percipient Networks, Rapid7, and Specter. 

Since the market is at a nascent stage, it demonstrates the presence of several large scale and small scale players. High degree of competition exists among the companies, as they seek to gain a competitive market share. The market exhibits strong growth potential, which is expected to attract more companies. This will further intensify the competition prevailing in the market in the near future. In order to enjoy sustainable growth, vendors are expected to enter into strategic collaborations and partnerships. They are also likely to focus on mergers and acquisitions to expand their global reach. 

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