RE­PORT: GLOBAL MIL­I­TARY CY­BER­SE­CU­RITY MAR­KET TO REACH $13.8BN BY 2027

SP's LandForces - - NEWS IN BRIEF -

The global mil­i­tary cy­ber­se­cu­rity mar­ket is ex­pected to reach $13.8bn in value by 2027, ac­cord­ing to a re­port by Strate­gic De­fence In­tel­li­gence (SDI). Ti­tled ‘The Global Mil­i­tary Cy­ber­se­cu­rity Mar­ket 2017-2027’, the re­port an­tic­i­pates the mar­ket to wit­ness a com­pounded an­nual growth rate (CAGR) of 3.53 per cent over the ten-year fore­cast pe­riod, grow­ing from $9.8bn in 2017. The cu­mu­la­tive mar­ket value dur­ing the fore­cast pe­riod is es­ti­mated to be $130.7bn, driven ma­jorly by North Amer­ica, fol­lowed by Asia Pa­cific and Europe.

On­go­ing and fu­ture pro­cure­ments of cy­ber­se­cu­rity sys­tems are ex­pected to make North Amer­ica sus­tain its big­gest mar­ket share. This is es­ti­mated to be 62.6 per cent. North Amer­ica’s cu­mu­la­tive ex­pen­di­ture on cy­ber­se­cu­rity sys­tems dur­ing the fore­cast pe­riod is es­ti­mated to be $81.8bn. Asia Pa­cific and Europe are ex­pected to have global mar­ket shares of 14.9 per cnet and 11.8 per cent re­spec­tively. An­other key mar­ket is an­tic­i­pated to be the Mid­dle East, which is ex­pected to have a mar­ket share of 7.6 per cent dur­ing the fore­cast pe­riod. Latin Amer­i­can and African re­gions are ex­pected to ac­count for the re­main­ing share. The high­est spend­ing is ex­pected to be in the net­work se­cu­rity seg­ment at 38.5 per cent given the in­crease in cy­ber at­tacks on mil­i­tary net­works, fol­lowed by data se­cu­rity sys­tems at 25.6 per cent, iden­tity and ac­cess at 19.3 per cent, and Cloud pro­tec­tion at 16.6 per cent.

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