Cyber Warfare Market Size (2024 - 2029)

Cyber Warfare Market Analysis

The Cyber Warfare Market size is estimated at USD 77.54 billion in 2024, and is expected to reach USD 185.65 billion by 2029, growing at a CAGR of 19.08% during the forecast period (2024-2029).

Cyberwarfare involves offensive and defensive operations, such as cyberattacks, espionage, and sabotage. The number of cyberattacks worldwide is increasing significantly. Cyberwarfare uses all vectors accessible to cybercriminals, including viruses, email attachments, pop-up windows, instant messages, and other forms of deception on the internet.

The growth in the number of cyberattacks worldwide has the potential to damage the internet-linked digital infrastructure of various government or private sector enterprises, raising the need for both offensive and defensive applications of cyber warfare solutions, which would create an opportunity for market growth.

International organizations and governments prioritize strengthening national security by increasing the cyber security capabilities of various countries, such as the United States and India, due to increased security challenges within cyberspace in recent years. According to a survey by the Center for Internet Security, cyberattacks on state and local governments increased from 2022 to 2023. The center found that malware attacks increased by 148%, while ransomware incidents were 51% more prominent during the first eight months of 2023.

Additionally, developing countries, such as China and India, have been strategizing to increase their countries' capabilities in cyber defense, supporting market growth. For instance, in February 2023, India planned to launch the National Cyber Security Strategy 2023 by updating the old strategy of 2013. The country has created an International Counter Ransomware Taskforce in collaboration with its finance and legal affairs ministries.

However, the increasing demand for cyber warfare solutions has increased the demand for cyber security professionals worldwide, which has created a gap in the skilled cyber security workforce due to the sudden rise in demand, challenging the market growth.

COVID-19 caused significant disruption to businesses on a global scale. It accelerated the growth of cyber criminal activities in private and government enterprises supported by digital transformation with the increase in internet use for work, retail, recreation, and education, driving a surge in online traffic. The increase in cyberattacks and fraud during and after the pandemic has created an opportunity for cyber warfare solutions due to their application in minimizing the cyber risks and fueled the market during the post-pandemic period.

Cyber Warfare Industry Segmentation

Cyberwarfare comprises the actions taken by a nation-state or international organizations against another nation's computers or information networks, primarily through computer viruses or denial-of-service (DDoS) attacks.

The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from the various solutions that are being used across end-user industries. In addition, the study provides the global cyber warfare market trends, along with key vendor profiles. The study further analyses the overall impact of COVID-19 on the ecosystem.

The cyber warfare market is segmented by end-user industry (defense, aerospace, BFSI, corporate, power and utilities, government, and other end-user industries) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.