Dublin, Nov. 27, 2020 (GLOBE NEWSWIRE) — The “Deception Technology – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Its Not CIOs or CFOs, Its COVID-19 Driving Digital Transformation in Enterprises Worldwide
With COVID-19 emerging to be the biggest driver of digital transformation, cybersecurity technologies and services have shot into the spotlight on the back of heightened risks of more sophisticated cyber-attacks. The pandemic is ushering in a new era of cyber security and the global market for Deception Technology, under this scenario, is projected to reach US$4.6 billion by the year 2027 trailing at a CAGR of 13. 7% over the analysis period.
IT landscape today remains irreversibility changed with companies migrating to new operating models; reassessing IT security architectures; resetting security systems to plug-in digital holes; and adopting innovative remote working technologies. Highlighting the acceleration in digital transformation is the fact companies have digitally transformed within weeks to ensure business continuity as lockdowns and restrictions confine billions of people to their homes. Over 60% of companies in North America, Europe and Asia expect to witness a higher velocity of change in digital transformation during the years 2020 through 2023.
Ushered In by the Pandemic, WFH Will be the New Culture of the Future
In the United States, in the pre-pandemic period only 5% to 7% of the country`s workforce was working from home (WFH) although over 58% held jobs compatible with remote work. However, over 35% to 40% will work from home multiple-days-a-week by the end of 2021. The pandemic is creating a global `Work-At-Home` culture which will very likely last beyond the crisis. Against this backdrop, every company needs a well-thought-out work-at-home and business continuity plan. Digital transformation is now visible in all industrial sectors.
Tele health will replace doctor visits by 2025; by 2021 new home constructions will include co-working spaces highlighting the permanence of remote working; supply chain 4.0 will reach 100% adoption by 2025; eCommerce will account for 60% of retail spending by 2020 and block chain & tokenization will be integrated into financial services by 2023. Digital technologies provide productivity, security, efficiency, agility, workforce re-skilling, and customer experience advantages, all of which are vital during times of crisis like the current pandemic. The pandemic is helping test the effectiveness of digital solutions and in the post pandemic world digital innovation will accelerate even further.
Enterprises Cannot Deceive Themselves Anymore. Cybersecurity Issues Are Spiraling.
As reliance on digital technologies spirals, cybersecurity measures will also witness a parallel increase in focus driving fresh opportunities for deception technology. With organizations across the board opening more number of sites for remote access, there is greater risk of remote connections and remotely-accessed assets coming under threat of cyber attacks. Deception technology is a new and upcoming cybersecurity platform that seeks to prevent damage from cybercriminals who have infiltrated a network. By creating decoys and traps that imitate legitimate corporate assets across the infrastructure, the technology aims at providing early and accurate detection of threats that have bypassed perimeter security controls.
VPN Comes Under Threat as Usage Surges. Deceiving the Intruder Will Level the Playing Field With Cyber Attackers
The astounding spike in the number of remote and mobile workers over the last couple of months has brought VPN infrastructures are under immense risk. VPN usage has spiked in parallel to the increase in COVID-19 infections. In Italy, USA, Spain, Germany, Iran and France, VPN usage in March 2020 increased by 175.2%, 132.5%, 62.1%, 48.4%, 51.9%, 47.4% respectively.
Competitors identified in this market include, among others:
- Acalvio Technologies, Inc.
- Allure Security Technology, Inc.
- Attivo Networks, Inc.
- Cymmetria, Inc.
- Guardicore Ltd.
- Illusive Networks
- Logrhythm, Inc.
- Rapid7 Inc.
- Smokescreen Technologies Pvt. Ltd.
- Trapx Security
- Varmour Networks, Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 and a Looming Global Recession: Novel Opportunities Emerge in the wake of Pandemic
- An Introduction to Deception Technology
- Deception Technology: Current Market Scenario and Outlook
- Analysis by Stack Type
- Network Security: The Largest Deception Technology Stack Type
- Data Security Emerges as Fastest Growing Stack Type
- Application Security Continues to Gain Traction in Deception Strategies
- Endpoint Security Remains Highly Relevant
- Competitive Landscape
- Recent Market Activity
- EXHIBIT 2: Deception Technology Competitor Market Share Scenario Worldwide (in %): 2019E
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rapidly Growing Magnitude & Increasing Cost of Cybercrime: Cornerstone for Present and Future Growth of Deception Technology Market
- Emergence of Cyber-Physical Attacks on Critical Infrastructure Raises Importance of Cybersecurity
- Rise of IoT & Widening Attack Surface Accelerate the Shift Towards Deception Technology
- Deception Technology Emerges as Perfect Security Paradigm for IoT
- AI Steps In to Revolutionize Deception Technology Ecosystem
- Robust Opportunities for Deception Software in Cloud Security Landscape
- Surge in Remote Workforce & VPN Deployments Instigate Fresh Wave of Opportunities
- Established Role of BYOD to Give Impetus to Deception Software Deployments
- Key Factors Encouraging BYOD Trend among Enterprises Ranked by Importance Attached by Enterprises
- Select Mobile Apps Used in BYOD Environments
- Threat from Social Networking Sites Puts Focus on Deception Technology
- Amidst Growing Role of Cybersecurity Solutions in Energy Sector, Deception Technology Eyes Novel Opportunities
- Evolving Cyber Threats Continue to Create Hostile Environment for Energy Enterprises & Utilities
- Deception Technology Seeks Role in Healthcare Networks
- Deception Technology for Retail and Financial Service Providers
- Deception Technology Eyes Opportunities in Data Center Security Landscape
- Cybersecurity Assumes Criticality Amidst Impending Roll Out of 5G, Giving Impetus to Deception Tools
- With Windows 7 Reaching End of Life in 2020, Deception Software to Gain Relevance in Enterprise Systems with Outdated OS
- Rising Threat of Disruptionware Attacks Augurs Well
- Government Sector to Post Notable Growth: Increased Funding Addressing Cybersecurity Breaches Support Deception Tools Market
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/gpyys7
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