Cyber Warfare Market to Reach $127.1 Billion, Globally, by 2032 at 13.3% CAGR: Allied Market Research
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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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-
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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