As the number of Internet and smartphone users across the globe grow so do threats from hacking.

System breach is a common activity carried out by cyber hackers to extract sensitive information. This can lead to unwanted cyber attacks. Deception network, also called honeypot or decoy, is utilized to divert these kinds of attacks to other nodes and offer prior warnings to the administrator.

The increasing adoption of the Internet of Things (IoT) is highlighting the cyber deception technology and promoting high usage, over conventional cybersecurity. The cyber deception market is driven by a rise in APT and zero-day attacks lined with the need for effective solutions for early detection of cyber attackers. Penetration of online as well as ATM transaction is influencing growth of cyber deception market in BFSI sector.

There is growing government funding in the financial industry across the world. That’s likely to translate into growth of cyber deception market. The omnipresence of online and digital data and growth in cloud-based technology increases the vulnerability of that data, and that accelerates the growth of the cyber deception market.

The World Economic Forum says that cyberattacks are one of the largest threats across the globe and require high-end security. Software infiltration and cloud-hacks are likely to be the major instances of cyberattacks. That means that there is an increase in internal security reviews and audits, in cloud-based companies, giving rise in demand cyber deception solutions.

F-Secure, a cyber-security company based in Finland, recently said that cyberattack threats have increased  fourfold. According to a study done by Cisco, in 2018 many companies received up to 10,000 threats a day. That represents six threats were received every minute. Sixty-nine percent of companies surveyed received more than 5,000 threats a day.

You can read more in the full report,“Cyber Deception Market – Growth, Trends, and Forecast (2020 – 2025)”  ◊