New York, NY -- (SBWIRE) -- 02/28/2019 -- Introduction

System breaching is a common activity carried out by cyber hacker to extract sensitive information which may lead to cyber-attacks. Cyber deception is one of the emerging trends in cyber defense systems. It is a controlled act to capture the network and create uncertainty and confusion against sudden attacks and establish situational awareness. Major instances such as software infiltration and cloud-hacks increase the need for cyber deception solutions in several sectors. These solutions can identify, analyze, and protect against various forms of cyber-attacks in real time. The best known attempts of cyber deception in various commercial sectors are honeypots and honeynets.

Cyber deception solutions have been gaining increasing momentum to protect networks, devices from malicious attacks, ransom wares, sophisticated cybercriminals, and Advanced Persistent Threats (APTs). Rise in the number of smartphone users and increasing adoption of Internet of Things (IoT) are the driving forces of cyber deception market. Rapid emergence of cloud-based companies increases the need for internal security reviews and audits which in turn accelerates the demand for cyber deception solutions.

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Dynamics

Cyber deception market is likely to be driven by rise in APT and zero-day attacks lined with the need of effective solutions for early detection of cyber attackers. Swift penetration of online as well as ATM transaction is influencing growth of cyber deception market in BFSI sector. In addition, growing government funding in financial sector across the world is likely to translate into growth of cyber deception market. Omnipresence of online and digital data and growth in cloud-based technology increases the vulnerability of these data which in turn accelerates growth of the cyber deception market.

Increasing need for compact security infrastructure to defend network security breaches on the coattails of growing incidences of cyber-attacks across the globe will possibly propel growth of the market in the coming years. Another key factor favoring progress in cyber deception market is high demand for deceptive security tools in data-sensitive sectors such as banking and insurance.

Although the cyber deception market represents a positive outlook, few challenges associated with lack of awareness of security tools is expected to hamper the market growth. Rising use of pirated network tools in several emerging economies along with lack of cyber expertise will possibly be 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 confine cyber deception market.

Cyber Deception Market Segmentation

Global Cyber Deception Market can be segmented on the basis of product type and application.

Based on the product type, global cyber deception market can be segmented as:

Professional Service
Managed Service

On the basis of application, global cyber deception market can be segmented into:

IT & Telecom
Energy & Power
Healthcare
Retail
BFSI

Cyber Deception Market: Regional Outlook

Owing to presence of large number of deception technology operators, North America is expected to be the most lucrative region for global cyber deception market. The growth of cyber deception market in North America is expected to be largely driven by developed nations such as the US and Canada. With growing funding in network security infrastructure, cyber deception market in Asia Pacific is likely to witness a robust growth in the foreseeable future. Further, development smart cities across countries such as Japan, China, and India is estimated to generate demand for cyber deception solution in these regions.

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Cyber Deception: Key Market Participants

Key market participants in cyber deception market are focusing on enhancing their product portfolio to provide high-end security services across various industries. The services offered in this segment meet industrial quality and calibration standards thus, increasing their span of application