Deception technology market to cross USD1.7bn 2021

TechSci Research has predicted the global market for deception technology is projected to cross USD1.7 billion market size by 2021, due to the increasing number of cyber attacks such as malwares, Distributed Denial of Service (DDoS), Advanced Persistent Threats (APTs) and zero-day attacks, the company said.

Globally, the total number of data breaches increased at a Y-o-Y of 8.6 percent in 2015 as compared to the previous year. Rise in security spending by organizations and governments across the world in order to safeguard their networks and data centers against these cyber-attacks is anticipated to drive the market for the deception technology across the globe during 2016-2021.

Over the past few years, the global market for deception technology witnessed various radical changes, with the most vital being growing adoption of distributed decoy systems. Global deception technology market is expected to be driven by the growing demand for these technologies from BFSI, IT & telecom, energy & power, retail, healthcare, government enterprises, and manufacturing sector. Globally, the number of Internet users is estimated to reach 3.29 billion in 2016. Moreover, the number of smartphone users across the globe is anticipated to register a Y-o-Y growth of more than 12 percent in 2016. Rising Internet penetration, increasing number of smartphone users, coupled with rapid advancements in technology and infrastructure in various sectors have made networks and data centers extremely vulnerable to cyber attacks, thereby boosting demand for deception technologies.

TechSci Research is a global market research firm publishing market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals.