Military Cloud Computing Market worth $15.3 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 19, 2023 /PRNewswire/ -- The Military Cloud Computing Market is estimated to be USD 8.5 billion in 2023 and is projected to reach USD 15.3 billion by 2028, at a CAGR of 12.5% during the forecast period according to a new report by MarketsandMarkets™. The driving factor for the military cloud computing market is the need for enhanced data accessibility, security, and agility in modern warfare and defense operations. Military forces worldwide are increasingly relying on cloud solutions to efficiently process, store, and analyze vast volumes of data, enabling quicker decision-making, real-time communication, and seamless coordination across diverse and geographically dispersed units.
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Military Cloud Computing Market Report Scope:
The Deployment type segment has been segmented into Public Cloud, Private Cloud, Hybrid Cloud. The growth of private cloud segment can be attributed to a wide range of regulatory and compliance standards, including those related to data security, privacy, and sovereignty. Private clouds enable these military organizations to design and implement cloud environments that meet their specific compliance requirements. Private clouds offer consistent and predictable performance because resources are not shared with external organizations. This reliability is crucial for military operations where downtime or performance fluctuations are not acceptable.
Based on Service Model, Infrastructure as a Service segment is projected to lead the market during the forecast period.
Based on Service Model, the military cloud computing market has been segmented into Public Cloud, Private Cloud, Hybrid Cloud), Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS). IaaS provides military organizations with the ability to rapidly scale their computing resources up or down in response to changing operational requirements. This scalability is crucial for accommodating the dynamic nature of military missions, whether it involves surges in demand or scaling down during peacetime. IaaS offers robust redundancy and disaster recovery options. Data and applications can be replicated across multiple data centers, ensuring resilience and data protection in case of hardware failures or cyberattacks.
Based on End User, the army segment acquires largest market share in market during the forecast period.
The Army segment currently has the largest market share in the military cloud computing industry due to several reasons. The army typically represents the largest branch of a nation's military forces. Its sheer size and scope of operations often result in substantial computing and data management needs. As a result, the army has invested heavily in cloud computing to support its diverse missions and activities. Additionally, the army's missions can range from tactical deployments in the field to strategic planning and logistical support. Cloud computing can provide the flexibility and scalability required to meet these diverse mission requirements efficiently.
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Based on region, the Asia Pacific segment is projected to grow at the highest CAGR during the forecast period.
The military cloud computing market is anticipated to register its highest growth rate in the Asia Pacific region in 2023. China, India, Japan, South Korea, and the rest of Asia-Pacific are the regions that were looked at in this market. One of the primary international players operating in the Asia Pacific region is China, and Japan, which makes significant investments in the creation of military cloud computing technologies.
Amazon (US), Raytheon Technologies Corporation (US), Microsoft Corporation (US), Google (US), Atos (US), Oracle (US), IBM (US), General Dynamics Corporation (US), Bae Systems (UK), SAIC (US), Thales Group (France), are some of the leading companies in the military cloud computing companies. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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