Research uncovers the lucrative potential of deception technology

The market for deception technology is expected to surge to US$ 2 billion in value by 2023

The market for deception technology is expected to surge to US$ 2 billion in value by 2023, according to new information from research company, Future Market Insights. It is anticipated to increase to US$ 6.7 billion by 2033, representing a CAGR of 12.6% from 2023 to 2033. The analysts suggest that this market might offer a US$ 4.7 billion absolute dollar potential during the same time frame.

Security tactics have had to change due to the constantly evolving nature of cyber threats. Antivirus software and firewalls, once sufficient for protection, are no longer effective against modern, sophisticated threats.

Deception technology provides a proactive security mechanism by setting up a network of deceptive traps and decoys that detect and divert intruders. This novel strategy is expected to add an extra degree of protection for enterprises. As a result, it would be a desirable approach to counter new cyber threats.

The ability of an organisation to identify and react is improved by deception technology. Organisations can divert attackers away from vital assets by using realistic decoys.

Additionally, they can learn crucial information about their strategies, methods, and objectives.