Rising adoption of BYOD policy to fuel the demand for deception technology

 

Deception technology: Key market research findings

  • The Americas dominate the market geographically
  • Vendors are expanding their business to gain market shares
  • Key vendors – Attivo Networks, Cymmetria, Guardicore, and TrapX Security

Technavio’s market research analysts predict that the global market for deception technology will grow at a CAGR of more than 9% by 2020. The demand for deception technology stems from the ongoing rise in the incidence of identity theft. There has been an increase in the number of incidents of identity and data theft because of the increase in the use of websites and web applications by end-users. The growing popularity of online consulting and sharing of health-related results online is also encouraging identity theft. During 2015, the global deception technology market was dominated by the Americas with a market share of more than 41%. The need for security solutions to protect data from unauthorized access that is growing with the increasing technological advances will be the driving force behind the growth of the deception technology market in the Americas during the forecast period.

The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

“The increase in competition in the global deception technology market is prompting vendors to expand their businesses beyond traditional boundaries and into overseas markets. However, some vendors, especially those in developing regions, have little knowledge of managed security services. As a result, most vendors rely on their partners to deploy such solutions. Cisco is an example of a deception technology vendors that relies on the partnership network approach to expand their businesses,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.

The increasing adoption of the bring your own device (BYOD) policy among enterprises plays a key role in augmenting the demand for deception technology. BYOD policy allows employees to use their personal devices such as laptops, smartphones, tablets, and desktops for business purposes, allowing them to work without any time or location constraints, thereby increasing their productivity, managing travel time, and reducing the operational costs of companies such as repair and maintenance costs. As employees are increasingly using wireless networks for communication and data transmission, the chances of cyber-attacks over mobile devices is on a rise. This may lead to cases of fraud and misuse of critical corporate and business data.

The key vendors in the global deception technology market include Attivo Networks, Cymmetria, Guardicore, and TrapX Security. Vendors are entering partnerships to develop and expand their global reach and strengthen product lines and solutions. This will help them increase their market share in the global deception technology market. To succeed in this intensely competitive environment, it is essential for vendors to distinguish their services and product offerings through a clear and unique value proposition. Vendors face significant challenges because of intense competition, technological advances, and frequent changes in end-user preferences.

A more detailed analysis is available in the Technavio report, Global Deception Technology Market 2016-2020.

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