Cyber Warfare Market to Reach $127.1 Billion, Globally, by 2032 at 13.3% CAGR: Allied Market Research
Thursday, November 23, 2023
Rise in advance cyberattacks drives the growth of the global cyber warfare market.
PORTLAND, Ore., Nov. 15, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Cyber Warfare Market Component (Hardware, Software, and Services), End User (Government, Corporate and Private, Aerospace and Defense, BFSI, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global generated $37.5 billion in 2022 and is estimated to reach $127.1 billion by 2032, exhibiting a CAGR of 13.3% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities
Surge in rise in advance cyberattacks and increased dependence on technology drive the growth of the market. However, shortage of shared real-time information on rapidly evolving threats and insufficiently trained workforce to address new threats is expected to hamper the growth of the market. Furthermore, increase in reliance on connected systems and technology is expected to create lucrative growth opportunities for the market.
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Report coverage & details:
Report Coverage
Details
Forecast Period
2023-2032
Base Year 2022
Market Size in 2022
$37.5 Billion
Market Size in 2032
$127.1 Billion
CAGR 13.3 %
No. of Pages in Report 334
Segments Covered
Component, End User and Region.
Drivers
Rise in advanced cyberattacks
Increased dependence on technology
Opportunities Increase in reliance on connected systems and
technology
Restraints Shortage of shared real-time information on rapidly
evolving threats
Insufficiently trained workforce to address new threats
Covid-19 scenario-
-- Cybercriminals gained an easier time taking advantage of vulnerabilities
in healthcare and remote work infrastructure due to the pandemic.
Cyberattacks aimed at hospitals, vital infrastructure, and COVID-19
research organizations increased significantly.
-- Governments and organizations have increased investments in
cybersecurity infrastructure and implemented stronger cybersecurity
rules in response to the increased threat landscape. This includes
developing and implementing strong threat intelligence systems, security
software, and training initiatives to improve cybersecurity
capabilities.
-- In addition, as an outcome of the pandemic, governments, cybersecurity
agencies, and private sector organizations are working together more
frequently and sharing information. The goal of this partnership is to
share best practices, knowledge, and threat intelligence in order to
efficiently tackle cyber threats whenever the situation is critical.
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The hardware segment to rule the market-
On the basis of component, the hardware segment held the major share in 2022, garnering nearly one-third of the global cyber warfare market revenue, owing to the offer of equipment and tools created especially to enable cyber warfare operation, which includes firewalls, intrusion detection systems, network and security appliances, and advanced malware or exploit kits propels the market growth significantly. The software segment would also showcase the fastest CAGR of 15.6% during the forecast period, owing to offering a wide variety of capabilities, including data analysis, vulnerability assessment, intrusion detection and prevention, network reconnaissance and scanning, exploit development, and malware generation and distribution.
The aerospace and defense segment to maintain its dominance during the forecast period
On the basis of end user, the aerospace and defense segment accounted for nearly one-fifth of the global cyber warfare market share in 2022 and is expected to rule the boost by 2032, owing to help identify and mitigate cyber threats, and share this information with government agencies, and collaborate with cybersecurity. The BFSI segment would also display the fastest CAGR of 17.8% throughout the forecast period, owing to the adoption of digitalization and rapid use of Fintech mobile apps has become a rage.
Asia-Pacific garnered the major share in 2032
On the basis of region, North America garnered the highest share in 2022, holding nearly one-third of the global cyber warfare market revenue in 2022, and is projected to retain its dominance by 2032, owing to factors such as the increasing use of smartphones and enhanced internet connectivity aiding the growth of the cyber warfare market. The Asia-Pacific region would also portray the fastest CAGR of 16.4% during the forecast period, owing to enabling enterprises and managed security service providers to improve operational efficiencies, cost-effectiveness, and security outcomes is expected to fuel the market growth in Asia-Pacific.
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Leading Market Players-
-- IBM
-- BAE Systems
-- Intel Corporation
-- Cisco Systems, Inc.
-- DXC Technology Company
-- L3harris Technologies, Inc.
-- RTX
-- AIRBUS
-- Booz Allen Hamilton Inc.
-- General Dynamics Corporation
The report analyzes these key players in the global cyber warfare market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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