Military Cybersecurity Market Forecast: $15.7 Billion in 2023 to $68.5 Billion by 2033

According to a new report published by Allied Market Research, titled, "Military Cybersecurity Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Deployment, by Solution : Global Opportunity Analysis and Industry Forecast, 2024-2033." The global military cybersecurity market Size was valued at $15.7 billion in 2023, and is projected to reach $68.5 billion by 2033, growing at a CAGR of 15.4% from 2024 to 2033. The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future.

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Military cybersecurity refers to the measures, strategies, and technologies employed by military organizations to protect their digital assets, including networks, systems, and data, from cyber threats and attacks. It encompasses a range of practices aimed at safeguarding military operations, communications, and critical infrastructure from unauthorized access, manipulation, disruption, or destruction by adversaries, including nation-states, terrorist groups, and cybercriminals.

The factors such as increase in demand for defense IT expenditure, transition of conventional military aircraft into autonomous aircraft, and growth in cyber-attacks on the regulatory, trade and individuals supplement the growth of the defense cyber security market. However, limited awareness related to cyber security and lack of cyber security professionals or workforce are the factors expected to hamper the growth of the military cybersecurity industry.

The military cybersecurity market is segmented into type, deployment, solution, and region. By type, the market is divided into endpoint security solutions, network security solutions, and content security solutions. As per deployment, the market is fragmented into on-premises and cloud. Depending on solution, it is categorized into threat intelligence & response management, identity & access management, data loss prevention management, security & vulnerability management, unified threat management, enterprise risk & compliance, managed security, and others.

Based on type, the endpoint security solutions segment held the highest market share in 2023, accounting for more than two-fifths of the global military cybersecurity market revenue and is estimated to maintain its leadership status throughout the forecast period.

Endpoint security solutions are undergoing continuous evolution to combat the ever-changing landscape of cybersecurity threats. One prominent trend is the widespread adoption of Endpoint Detection and Response (EDR) solutions. EDR offers real-time monitoring of endpoint activities, allowing for swift detection and response to advanced threats.

Based on deployment, the on-premises segment held the highest market share in 2023, accounting for more than half of the global military cybersecurity market and is estimated to maintain its leadership status throughout the forecast period. However, the cloud segment is projected to manifest the highest CAGR of 15.88% from 2023 to 2033. Moreover, cloud computing offers advanced security features and capabilities that strengthen military cybersecurity defense. Leading cloud service providers invest heavily in robust security measures, such as encryption, identity and access management, and threat detection, to protect data and applications hosted in the cloud.

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Based on solution, the identity and access management segment held the highest market share in 2023, accounting for nearly one-fifth of the global military cybersecurity market and is estimated to maintain its leadership status throughout the forecast period. Moreover,

Identity and access management (IAM) plays a crucial role in military cybersecurity by ensuring that only authorized personnel can access sensitive information and critical systems. IAM encompasses processes, policies, and technologies designed to manage digital identities, control access to resources, and protect against unauthorized access and insider threats.

Based on region, North America held the highest market share in terms of revenue in 2023, accounting for more than half of the global military cybersecurity market revenue and is likely to dominate the market during the forecast period. The advancements in sensor technology, artificial intelligence, and communication systems have contributed to the evolution of military cybersecurity, enabling greater autonomy, flexibility, and effectiveness in engaging both stationary and moving targets with reduced collateral damage.

The military cybersecurity key players profiled in the report include AT&T, BAE Systems, Boeing, Cisco Systems, Inc., DXC Technology Company, EclecticIQ B.V., IBM Corporation, Intel Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Privacera, Inc., SentineIOne, Secureworks, Inc., and Thales Group. The key strategies adopted by the major players of the global market include product launch and mergers & acquisitions

Key Benefits for Stakeholders:

➢ This study comprises analytical depiction of the global military cybersecurity market size along with the current trends and future estimations to depict the imminent investment pockets.
➢ The overall global military cybersecurity market analysis is determined to understand the profitable trends to gain a stronger foothold.
➢ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➢ The current global military cybersecurity market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.
➢ Porters five forces analysis illustrates the potency of the buyers and suppliers in military cyber defense.
➢ The report includes the market share of key vendors and the global military cybersecurity market.

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