Cyber Weapon Market to grow by USD 8.08 billion from 2022 to 2027; Growth Driven by Increasing IT security budget- Technavio

NEW YORK, Nov. 23, 2023 /PRNewswire/ — The cyber weapon market by type (defensive and offensive), end-user (government, BFSI, corporate, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cyber weapon market between 2023 and 2027 is USD 8.08 billion.

The increasing IT security budget is a key factor driving market growth. The increasing number of cyber threats is leading some organizations to increase their IT budgets in different sectors. In addition, spending on IT security budgets around the world is increasing considerably and most of this expenditure relates to cyber security services. Therefore, the market is experiencing positive effects due to the increased complexity of cyber-attacks and rising awareness of security risks.

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Market Challenge

The high cost of cyber weapon development is a significant challenge restricting market growth. This is because of the need for time, resources, and technical expertise, the development of cyber weapons represents a significant cost. Furthermore, there are only a few companies that have the means and capacity to support the production of these complex technologies. Moreover, considering the costs and capability of such frameworks would be inconceivable to a prospective client due to cyber weapons research’s sensitive nature.

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The cyber weapon market has been segmented by type (defensive and offensive), end-user (government, BFSI, corporate, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

The defensive segment is estimated to witness significant growth during the forecast period. To prevent theft of intellectual property or data and system destruction, a growing use is made of virus malware as defensive cyber weapons. The growth of the defensive cyber weapon segment is greatly driven by factors such as increased threats to critical infrastructures in several sectors, e.g. information technology and government. The growth of the segment is also fuelled by factors like increased defense expenditure, as well as an increasing trend towards cyber weapons becoming a weapon of war.North America is estimated to contribute 35% to the growth of the global market during the forecast period.

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Key Companies in the cyber weapon market:

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.

Related Reports:

The Security Analytics Market size is estimated to grow by USD 6,512.26 million at a CAGR of 10.15% between 2022 and 2027.

The private cloud services market size is estimated to grow by USD 276.36 million at a CAGR of 26.71% between 2022 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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