Cyber Warfare Market to Witness Exponential Growth Rate of 13.3% by 2032

A surge in advance cyberattacks and increased dependence on technology are the major factors that are striking the market growth over the forecast period. PORTLAND, OR, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- 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.

Surge rise in advance cyberattacks and increased dependence on technology drive the growth of the global cyber warfare market size. However, a shortage of shared real-time information on rapidly evolving threats and an insufficiently trained workforce to address new threats is expected to hamper the growth of the market. Furthermore, an increase in reliance on connected systems and technology is expected to create lucrative growth opportunities for the market.

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Covid-19 scenario-

1. 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.

2. 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.

3. 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.

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.

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Based on 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.

Based on 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.

Leading Market Players-

IBM
BAE Systems
Intel Corporation
Cisco Systems, Inc.
DXC Technology Company
L3harris Technologies, Inc.
RTX
AIRBUS
Booz Allen Hamilton Inc.
General Dynamics Corporation

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 helps determine the business performance, operating segments, developments, and product portfolios of every market player.

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