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The Cyber Weapon Market size is estimated to grow by USD 8.08 billion at a CAGR of 11.21% between 2022 and 2027. The growth of the market depends on several factors, including the increasing IT security budget, the growing need for infrastructure protection, and the rising international conflicts.
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One of the key factors driving the market growth is the increasing IT security budget. Several organizations across various sectors are increasing their IT budgets due to the increasing number of cybersecurity threats. In addition, there is a significant increase in global spending on IT security budgets across the globe which mainly comprise expenses on cyber security services.
For example, global spending on IT security services was around USD 71.68 billion in 2022, which is anticipated to reach approximately USD 76 billion by the end of 2023. In addition, there is an increase in the number of cyber attacks as there is an increase in in use of websites and web applications by end-users which fuels the number of instances of identity and data theft. Hence, the increasing complexity of cyber-attacks and the growing awareness of security risks are positively impacting the market. Hence, such factors are expected to drive market during the forecast period.
One of the major market trends is the growing demand for data safety and security. There is an increase in demand for systems monitoring, hardware, intellectual property, theft, and disposal of targets' data, as well as vital manufacturing and commercial activities fuelled by the market. In addition, there is an increase in demand for control of commercial losses due to factors such as the need for data safety and security.
Moreover, the growing demand across various sectors such as the military, government, telecommunication, banking, and finance is positively impacting the market. Furthermore, the personal data in these end-user sectors are highly prone to unexpected damage by cyber hackers. Hence, such factors are driving the market during the forecast period.
The high cost of development is one of the key challenges hindering the market. There is a significant cost associated with the development of cyber weapons as it requires time, resources, and technical expertise. In addition, there are only a handful of companies which has the funds and capacity to help with the production of these complicated technologies.
Moreover, as research is highly confidential, it is inconceivable for potential clients to think about the cost and capacities of these frameworks. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The defensive segment is estimated to witness significant growth during the forecast period. There is an increasing deployment of virus malware as defensive cyber weapons to prevent the theft of intellectual property or the erasure of data and systems. Factors such as the increase in threats to critical infrastructure in important industries like information technology and government are significantly contributing to the growth of the defensive segment.
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The defensive segment was the largest segment and was valued at USD 5.94 billion in 2017. In addition, factors such as rising defense spending as well as the ongoing development as a weapon of war are fuelling the growth of the segment. There is an increasing adoption of cyber weapons, especially malware or a virus, by military, paramilitary, and intelligence services to access the adversary network. Hence, factors such as the increase in demand to invade the target's privacy and protect the host nation's sovereignty are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The increased expenditure on cyber weapons by the government segment will increase the market growth. Factors such as the rise in security installations in both developed and emerging nations, as well as the increasing contribution from the homeland security and defense sectors are fuelling the growth of this segment. In addition, there is an increasing adoption of cyber weapon solutions across the government segment to for the security and confidentiality of data. Several factors such as the e digital transformation, increased government expenditure on cyber weapons, and the rise in international conflicts are fuelling the growth of this segment which in turn will drive the growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the market in North America include increased use in end users' industries, shifting away from conventional IT services towards internet IT systems, and increasing governmental initiatives to tackle cyber security.
Moreover, one of the main countries that are leading contributors to market growth in North America is the US due to the significant presence of new startups in the region. Furthermore, several factors such as the increase in cyber threats in North America due to technological advancements the use of cloud-based systems for data storage, and the rising number of cyber threats targeting defense organizations are driving the market growth in the region.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Cyber Weapon Market thrives on the development and deployment of sophisticated computer code, including viruses, ransomware, and logic bombs, challenging cybersecurity strategies globally. Intelligence sectors vigilantly monitor cyberspace for unauthorized activities, safeguarding critical infrastructure like air traffic control, national defense systems, industrial control systems, communication networks, automated transportation systems, and smart power grids. With the BFSI sector particularly targeted, Asia Pacific and the Rest of the World witness escalating cyber threats. Players like FireEye, Inc., and Northrop Grumman Corporation are pivotal in cyber-mission forces, constantly innovating to counteract potential cyberattacks and adversaries' actions, ensuring the resilience of cyber defenses.
The market growth analysis report covers revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.21% |
Market growth 2023-2027 |
USD 8.08 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.09 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Airbus SE, AO Kaspersky Lab, Avast Software sro, BAE Systems Plc, Booz Allen Hamilton Holding Corp., Broadcom Inc., Cisco Systems Inc., DXC Technology Co., General Dynamics Corp., Intel Corp., International Business Machines Corp., Lockheed Martin Corp., Mandiant Inc., McAfee LLC, Musarubra US LLC, Northrop Grumman Corp., Raytheon Technologies Corp., Thales Group, and The Boeing Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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