Cyber Warfare Market Size

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. These include viruses, email attachments, pop-up windows, instant messages, and other forms of deception on the internet.

• The growth in the number of cyber attacks 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.
• The priority in strengthening national security by international organizations and governments through increasing the cyber security capabilities of various countries, such as the USA, India, etc., due to increased security challenges within cyberspace during the forecast period is driving the market growth. For instance, in October 2022, the President of the USA announced a new US National Security Strategy to strengthen the country's position by including elements of national power such as diplomacy, development cooperation, economic statecraft, intelligence, and defense, which would increase the demand for cyber warfare solutions due to their applications in country's intelligence and defense sector.
• 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, and the country has created an International counter Ransomware Taskforce in collaboration with the Finance and legal affairs ministries of the country.
• 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 business 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 cyber-attacks and frauds during the pandemic has created an opportunity for cyber warfare solutions due to their application in minimizing the cyber risks and fueled the market during and in the post-pandemic period.