The global cyber weapons market is poised for substantial expansion, driven by the ever-increasing cybersecurity threats that are projected to arise between 2021 and 2031, according to a new report from Research and Markets.
Cyber weapons, encompassing a range of software such as malware, viruses, ransomware, and logic bombs, have gained prominence due to the surge in global cybersecurity threats. This alarming rise in threats has prompted the development of advanced cybersecurity techniques to counteract them effectively.
Cyber weapons find extensive usage across military, government, and intelligence sectors, serving purposes like tracking adversaries, gathering critical data, identifying cyber threats, and monitoring illicit online activities, Research and Markets said in a news release. In response to the growing concerns, several countries have begun investing in offensive cyber capabilities.
Smaller nations, including the Netherlands, Denmark, Sweden, and Greece, have openly acknowledged their offensive cyber capabilities, while larger nations such as the US, UK, and Australia have reported conducting offensive cyber operations. Moreover, countries like North Korea, Russia, and Iran have engaged in catastrophic offensive cyber operations with significant impacts. The use of offensive cyber weapons by various nations is projected to drive the growth of the market throughout the forecast period.
Cyber weapons offer numerous advantages, including efficiency, cost-effectiveness, stealthiness, and the ability to operate swiftly, Research and Markets said. Their capability to remain discreet and their attribution challenges make them highly appealing. Furthermore, their offensive orientation is well-suited for the asymmetrical conflicts of the modern era. However, the high cost of developing cyber weapons and the technical challenges associated with their deployment pose significant obstacles to market growth.
The report outlines the market dynamics, including the drivers, restraints, and opportunities. Drivers include the need for infrastructure protection, technological advancements such as AI and machine learning, increased government and commercial expenditure on cyber weapons, and the rise in international conflicts.
Restraints involve high development costs and technical deployment challenges. Opportunities arise from the demand for defence intelligence and surveillance in military operations and the growing presence of relevant digital equipment in cyber warfare.
The market is segmented based on application, end-user, and type. Applications encompass national defence systems, public utilities, transportation systems, smart power grids, industrial control systems, financial systems, communication networks, and more. End-users include government entities, thebanking, financial services, and insurance sector, the corporate sector, and others.
Have something to say about this story? Let us know in the comments below.
