Kenneth Research examined the statistical and analytical approach that is required for the growth of Deception Technology Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Deception Technology Market products.
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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
Globally, the deception technology has started witnessing a healthy growth since the recent past years due to the rising use of surveillance, identity, and access applications and increasing cybersecurity concerns among the enterprises. Enterprises are increasing their spending on security technologies to reduce organizational security breaches, securing the perimeter, data security, content protection and controls, maintaining privacy, IP, and API’s among other factors. Henceforth, the adoption of deception technology has been rising in SMEs and large enterprises in the recent years. Furthermore, the rising adoption of digital technologies, such as IoT, analytics, and mobility technologies, is supporting the growth of deception technology across various industrial sectors.
As there is a rising concern among organizations for the security of their virtualized infrastructure and business information, enterprises are investing in security technologies for the protection of their organizational assets. Since there is a low awareness among the organizations of the available solutions, vendors are required to put in an effort to promote the benefits of the solutions. In addition, there is lack of industry standards which is in the development phase.
In the new digital connected world, deception technology market has reported a significant growth and is presenting ample opportunities to the industry’s players. Deception technology solutions and services are used by organizations of all sizes – small, medium, and large – across various industry verticals such as manufacturing, telecom and IT, healthcare, retail, banking, financial services, and insurance, and others.
the global deception technology market to grow at a CAGR of 12.8% during the forecast period. The market is segmented into solution, services, deployment modes, end-user verticals, and regions.
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? The report covers the present scenario and the growth prospects of the deception technology during the period 2017-2023. Moreover, to calculate the market size, the report considers the revenue generated from the below-mentioned segments:
o Solution: The segment includes the revenue generated from solution – a standalone platform
o Services: The segment includes the revenue generated from the consulting services, design and integration services, managed services, training and support, and others
? The report covers drivers, restraints, and opportunities affecting the market growth during the forecast period.
? The report gives insight about the application verticals where deception technology solutions and services are being used.
? The report covers the adoption and usage of deception technology in different regions. The regions include North America, Europe, Asia Pacific (APAC), and the Latin America, and the Middle East & Africa (MEA).
? It also contains an analysis of the forecast revenues, vendor profiles, companies to watch for, and business strategies, and views.
? It contains an analysis of vendor profiles, which include financial health, business units, geographical revenue, business focus, SWOT, business strategy, and views.
? In the vendor profile section, for companies that are privately held, financial information and revenue of segments will be limited.
? The report covers political, economic, social, and technological (PEST) factors affecting the market growth during the forecast period.
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