There has been a significant rise in the interferences among hostile nations, which results in a growing interest and escalating demand for advanced security systems. Due to increasing military budget inflows across the globe and growing conflicts among various countries, the demand for more robust positioning, navigation, and cybersecurity solutions are in substantial demand.
Read Report Overview: Defense Electronic Security and Cybersecurity Market
The threats to civilian and military assets are accelerating in diversity, ferocity, and volume every day. Thus, the militaries of various countries require the need of advanced security systems that can adapt to a changing landscape and help in crucial missions. Manufacturers are also focusing on developing wide range of defense electronics along with cybersecurity software that are upgradeable, durable, and reliable to thrive in the digital age and have the ability to neutralize and detect threats that have not been imagined yet.
The need for enhanced border security due to issues related to increasing land disputes, migration, and smuggling, has forced several countries to strengthen their security. Additionally, evolving national interests, geopolitical developments, and changing outlines of national security strategy are factors that motivate emerging regional and global powers to reshape their defense strength through deploying modern security systems and technology. Such factors drive the global defense electronics security and cybersecurity market at a significant growth during the forecast period 2020-2025.
Global Defense Electronics Security and Cybersecurity Market Size
In terms of value, the global defense electronics security and cybersecurity market was valued at $29.78 billion in 2019 and is expected to reach $51.61 billion in 2025 at a CAGR of 9.65% during the forecast period 2020-2025 because of increased proliferation of cyberattacks, as well as governmental support and growing emphasis on cybersecurity in various regions, including Asia-Pacific, Middle East and Africa, and North America.
Cloud-Based Deployment Mode Generates the Highest Demand in Defense Electronics Security and Cybersecurity Market
The market for defense electronics security and cybersecurity is available in two types of deployment modes, namely on-premises and cloud-based.
On-premises deployment mode contributed the largest share to the defense electronics security and cybersecurity market with a 68.93% share of the overall market in 2019, owing to the high level of data security provided as compared to cloud deployment. However, cloud deployment is expected to witness the highest growth rate of 11.12% during the forecast period. This deployment mode requires monthly or yearly subscriptions, which are cheaper as compared to the on-premises deployment software. The widespread adoption of cloud-based deployment mode is expected to be witnessed in the future due to the low entry cost as compared to the on-premises deployment model. The cloud-based deployment model involves the combination of cloud computing with wireless sensor networking and mobile computing to provide users with the required data automatically. Additionally, awareness about the benefits of using cloud-based deployment mode can also play a significant role in the adoption of this model by the defense organizations during the forecast period.
Global Defense Electronics Security and Cybersecurity Market Segmentation
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different industries that are security type, including network security, endpoint security, application security, cloud security, and industrial control system security, among others. The report also analyzes different deployment modes that include on-premises and cloud-based modes. In the component segment, the market is segmented into solutions and services.
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Competitive Landscape
The global defense electronics security and cybersecurity market is competitive, with the leading players actively competing against each other to gain the largest share. The competitive landscape of the defense electronics security and cybersecurity industry exhibits an inclination toward emerging strategies and developments by market players. Some of the strategies adopted by defense electronics security and cybersecurity providers are new product launches, facility expansions, contracts, partnerships, and collaborations. Among all the strategies adopted, contracts and partnerships have been the most prominent strategy adopted by the defense electronics security and cybersecurity providers.
