According to a new report, published by KBV research, The Global Deception Technology Market size is expected to reach $4.8 billion by 2031, rising at a market growth of 12.7% CAGR during the forecast period.
The Services segment exhibits a CAGR of 13.4% during (2024 - 2031). The services segment is propelled by the growing complexity of deploying and managing deception technology, which requires specialized expertise. Organizations often seek professional services, including consulting, implementation, and training, to integrate these advanced tools seamlessly into their existing security frameworks. Furthermore, the increasing reliance on managed services for continuous monitoring and maintenance has boosted this segment as businesses prioritize outsourcing to overcome the shortage of skilled cybersecurity professionals.
The Network Security segment is leading the Global Deception Technology Market by Deception Stack in 2023; thereby, achieving a market value of $1.70 billion by 2031. This dominance is attributed to the rising number of sophisticated network-based cyberattacks, such as Distributed Denial-of-Service (DDoS) and Advanced Persistent Threats (APTs). Organizations prioritize network security deception tools like honeypots and decoys to protect their infrastructure by detecting and diverting attackers early in the attack lifecycle. The growing adoption of IoT devices and cloud-based services has further increased the need for robust network security solutions to safeguard interconnected systems.
The Small & Medium Enterprises (SMEs) segment is experiencing a CAGR of 13.5% during (2024 - 2031). The SMEs segment is being driven by the increasing recognition of the necessity of proactive cybersecurity measures in response to a surge in ransomware, phishing, and other targeted attacks. While operating with constrained budgets, SMEs seek affordable and scalable solutions, making cloud-based deception technologies attractive. The availability of managed services further supports SMEs by enabling them to deploy and maintain deception tools without requiring extensive in-house expertise. As smaller organizations increasingly adopt digital technologies, the need to safeguard their growing digital assets drives their investment in deception technologies, helping them enhance their security posture cost-effectively.
The BFSI segment is generating the maximum revenue in the Global Deception Technology Market by Vertical in 2023; thereby, achieving a market value of $906.3 million by 2031, growing at a CAGR of 10.3 % during the forecast period. The BFSI segment is driven by the critical need to protect sensitive financial data, transactions, and customer information from increasingly sophisticated cyber threats such as ransomware, phishing, and data breaches. The high-value nature of financial information makes the sector a prime target for attackers, pushing financial institutions to adopt advanced security measures like deception technology.
The On-premise segment captures a CAGR of 12.5% during (2024 - 2031). In highly regulated businesses like banking, healthcare, and government, the need for strict data protection and compliance controls is what drives the on-premise market. Organizations with sensitive data or critical infrastructure often prefer on-premise deployments to ensure their security measures align with internal policies and regulatory requirements. The ability to fully customize and manage the deployment locally appeals to enterprises seeking tailored solutions.
Full Report: https://www.kbvresearch.com/deception-technology-market/
The North America region dominated the Global Deception Technology Market by Region in 2023; thereby, achieving a market value of $1.71 billion by 2031. The Europe market is expected to witness a CAGR of 12.5% during (2024 - 2031). Additionally, The Asia Pacific region would register a CAGR of 13.3% during (2024 - 2031).
By Component
By Deployment Mode
By Deception Stack
By Organization Size
By Vertical