Rise in advance cyberattacks drives the growth of the global cyber warfare market.
PORTLAND, PORTLAND, OR, UNITED STATES, November 20, 2023 /EINPresswire.com/ -- In a recent report by Allied Market Research titled "Cyber Warfare Market," it was revealed that the cyber warfare market achieved a valuation of $37.5 billion in 2022 and is projected to reach $127.1 billion by 2032, with a compound annual growth rate (CAGR) of 13.3% from 2023 to 2032.
Cyberwarfare comprises offensive and defensive tactics, encompassing actions like cyberattacks, espionage, and sabotage. The world is witnessing a significant increase in the frequency of global cyber incidents. This type of warfare exploits diverse avenues accessible to cybercriminals, including viruses, email attachments, pop-up windows, instant messages, and other deceptive techniques employed on the internet.
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The cyber warfare market encompasses a global ecosystem of technology, tactics, and services dedicated to the offensive and defensive use of cyber capabilities for military, intelligence, and national security objectives. This involves various components designed to safeguard, exploit, and disrupt digital infrastructure and information systems on both national and global scales. Intelligence gathering, including signals intelligence (SIGINT), human intelligence (HUMINT), and open-source intelligence (OSINT), plays a crucial role in cyber warfare. The market's dynamic nature is influenced by emerging threats, technological advancements, and evolving geopolitical conditions, underscoring its significance in current national security and defense strategies.
Factors contributing to the market's growth include a surge in advanced cyberattacks and heightened dependence on technology. Nevertheless, challenges such as a lack of real-time information sharing on rapidly evolving threats and an inadequately trained workforce to address new challenges are hindering market expansion. Additionally, the increased reliance on connected systems and technology presents an opportunity for substantial market growth during the forecast period.
• 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 aerospace and defense segment dominated the cyber warfare market in 2022, and it is anticipated to maintain its dominance in the coming years. This is attributed to its role in identifying and mitigating cyber threats, sharing information with government agencies, and collaborating with cybersecurity firms and other industries to enhance overall cybersecurity. The BFSI (Banking, Financial Services, and Insurance) segment is expected to witness the highest growth during the forecast period, driven by the widespread use of Fintech mobile apps.
Based on components, 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.
In 2022, North America secured the largest portion of the global cyber warfare market revenue, accounting for nearly one-third of the total. It is anticipated to maintain its leadership position until 2032. This dominance is attributed to factors like the rising prevalence of smartphones and improved internet connectivity, which contribute to the expansion of the cyber warfare market. Additionally, the Asia-Pacific region is expected to exhibit the highest Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period. This growth can be attributed to enterprises and managed security service providers adopting cyber warfare solutions to enhance operational efficiencies, cost-effectiveness, and overall security outcomes in the Asia-Pacific market.
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Based on end users, 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.
The key players profiled in the cyber warfare industry analysis are as BAE Systems, Cisco Systems, Inc., DXC Technology Company, RTX, Booz Allen Hamilton Inc., General Dynamics Corporation, Intel Corporation, L3Harris Technologies, Inc., IBM, and Airbus. These players have adopted various strategies to increase their market penetration and strengthen their position in the cyber warfare industry.
Cyber Warfare Market Competitive Landscape
The market report provides a comprehensive overview of the major players in the Cyber Warfare Market through its competitive landscape and company profile sections. Evaluation of key players includes an assessment of their product and service offerings, financial statements, strategic market approach, key developments, market position, geographical reach, and other relevant features. This section also delves into strengths, weaknesses, opportunities, and threats (SWOT analysis), winning imperatives, current strategies, and potential competition threats for the leading three to five players in the market. Additionally, the list of companies featured in the market study can be tailored to meet the specific requirements of the client. The competitive landscape section of the report details the ranking of the top five companies, recent developments, partnerships, mergers and acquisitions, new product launches, and more. It also highlights the company's regional and industry footprint based on the market and Ace matrix.
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