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Military IT, Data and Computing Market worth US$72.4 Billion by 2024

February 7, 2014

DALLAS, Feb. 7, 2014 /PRNewswire-iReach/ — RnRMarketResearch.com adds “The Global Military IT, Data and Computing Market 2014-2024″ research report to its storethat says the Global Military IT, data, and computing market is estimated to value US$54.2 billion in 2014 and increase at a CAGR of 2.94% during the forecast period, to reach its peak of US$72.4 billion by 2024.

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This report is the result of extensive market and company research covering the global Military IT, Data and Computing industry. It provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of the leading companies in the industry, and key news.

Introduction and Landscape

Why was the report written?

This report offers the reader detailed analysis of the global Military IT, Data and Computing market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts.

The Global Military IT, data, and computing market is estimated to value US$54.2 billion in 2014 and increase at a CAGR of 2.94% during the forecast period, to reach its peak of US$72.4 billion by 2024, according to new report – The Global Military IT, Data and Computing Market 2014-2024.

The market consists of four categories: networking, software, cyber security, and hardware. The networking segment is expected to account for 34.6% of the global military IT, data, and computing market, followed by the cyber security segment with a share of 26.3%.

Order a copy of this report at http://www.rnrmarketresearch.com/contacts/purchase?rname=147782 .

This report offers detailed analysis of the global military IT, data and computing systems market, with the identification of market drivers augmenting its provision of historic and forecast data for the next decade. Together with its investigation of the developments and challenges in the industry, analysis of key markets, major programs, and the competitive landscape, along with SWOT analysis of the industry as a whole, This report should be considered the definitive informational resource for those with a stake in the global military IT, Data and Computing systems market seeking to secure growth whilst minimizing risk.

To capitalize on the opportunities presented by market growth, organizations with a vested interest in the global military IT, Data and Computing market must remain sensitive to the key drivers of the market, thereby facilitating informed business decisions that maximize profits with minimized risk.

Key Insights Include:

    --  The US, the highest spender on military IT, data, and computing systems
        has spent a vast amount of money on the development of enterprise
        resource planning (ERP) systems over the last decade. However, as the
        Army, Navy, and Air Force look to implement these systems, they are
        struggling with time delays and cost overruns.
    --  The emergence of affordable, smart mobile devices, along with advances
        in wireless communications such as 4G, WiFi, and Bluetooth, have worked
        to increase the vulnerability of national networks, with a large number
        of business enterprises widely adopting mobile devices. Even critical
        infrastructure entities, including tactical military units and
        electronic grids, are employing commercial wireless technology into
        their operations. This area poses a tough challenge for cyber security
        providers, as the increasing capability of mobile phones is also
        expected to increase the complexity of attacks faced by these devices.
    --  Attacks from malware makes it important for defenders to identify the
        source of the malware so that similar patterns can be tracked and
        observed for flaws, and a proper response to the attack can be delivered
        without causing undue inconvenience to the entire cyberspace community.
        This challenge stems from the fact that the cyber security institutional
        eco-system, which consists of a broad set of international, national,
        and private organizations, has unclear and overlapping boundaries, as
        well as differing capacities, due to which a comprehensive database on
        such malware has not been developed.
    --  A large number of countries now possess at least basic cyber-attack
        capabilities and an unknown number of extremist groups have also
        developed or acquired advanced cyber weapons. Some commercially
        available products are flexible enough to be classified as dual purpose,
        such as security testing tools and weapons of attack; however, some
        organizations are developing cyber weapons and cloaking them under the
        heading of security testing tools. These cyber weapons are in their
        infancy and are expected to rapidly evolve over the next decade.

Related Market Reports

The Global Cybersecurity Market 2013-2023 – Market Size and Drivers: Market Profile

The global cyber warfare market is projected to record robust growth in spending over the forecast period owing to the rise in cyber attacks on the military and other critical IT infrastructure. Countries across regions are now focusing on establishing and developing their cyber security infrastructure, an area of defense spending that was neglected until recently.

The Global Cybersecurity Market 2013-2023 – Competitive Landscape and Strategic Insights: Market Profile

The report provides a detailed analysis of the competitive landscape of the Cybersecurity market. It provides an overview of key Cybersecurity companies catering to the Cybersecurity sector, together with insights such as key alliances, strategic initiatives and a brief financial analysis.

The global cyber security market is highly competitive, with a limited amount of large suppliers worldwide. Within the global cyber warfare market, American and European countries are among the leading defense spenders and have well-developed domestic cyber security industries, which allows them to be self-reliant.

Browse more reports on Cyber Security Industry at http://www.rnrmarketresearch.com/reports/public-sector/defense/security/cyber-security .

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Media Contact: Pankaj Sharma, MarketsandMarkets, 09881155004, pankaj@marketsandmarkets.com

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