Nichols Martin
Reportlinker has released a forecast study that the military cybersecurity market is projected to increase from $9.8 billion to $13.8 billion at a compound annual growth rate of 3.5 percent between 2017 and 2027.
The research firm said Wednesday the market is expected to globally hold a cumulative value of more than $130 billion during the period of forecast.
The report said the growth have stemmed from the increase of hackers and modern cyber conflicts that have changed the internet since 2007.
North America is predicted to hold the market’s majority share at 63 percent due to the U.S.’s active procurement of cybersecurity systems with a total projected expenditure of $82 billion.
The full report can be found here.
