Published on : Jun 28, 2016
ALBANY, New York, June 28, 2016: ResearchMoz.us has recently added a new research report on the global military IT, data and computing market to its resourceful database. As per the report, titled ‘The Global Military IT, Data and Computing Market 2016-2026,’ the market is projected to reach US$62.9 bn by 2016. The report’s authors predict that the global market will reach US$80.5 bn by 2026, progressing at a 2.50% CAGR from 2016 to 2026.
The global military IT, data and computing market is fueled by the rising demand for advanced information technology, advanced communication systems, cloud-based infrastructure, and encrypted data storage systems. According to the report, industry consolidations and procurements will play a major role in the growth of the market. Leading players are concentrating on acquiring regional players to introduce innovations in information technology. Technological breakthroughs, new product developments, and innovations in information technology processes can be credited for the growth of the global military IT, data and computing market.
Based on region, the global military IT, data and computing market is divided into Europe, Asia Pacific, North America, the Middle East, Africa, and Latin America. North America is predicted to dominate the global market, followed by Asia Pacific. By 2026, North America is expected to account for a share of close to 47.7% in the global military IT, data and computing market.
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Leading players in the United States are currently focusing on increasing their spending on introducing encrypted data storage systems. Many new programs are being pursued in the field of enterprise resource planning (ERP) and tactical local area network (TACLAN) systems. The increasing spending on the introduction of new software support applications is expected to benefit the global market for military IT, data and computing.
According to the findings of the report, Asia Pacific is anticipated to account for 26.4% of the global market. The Europe military IT, data and computing market will experience steady growth in the years to come, predict analysts. By 2026, Europe is expected to hold 14% of the global military IT, data and computing market. By 2026, the Middle East is projected to hold a share of 9.6% in the global market. The lowest share, of 2.3%, is estimated to be collectively held by Africa and Latin America, state the analysts.
The global military IT, data and computing market is segmented into networking, cyber security, hardware, and software. The networking segment dominates the global military IT, data and computing market, followed by the cyber security segment. By 2026, the networking segment is expected to hold a share of 47.4% in the global market. By 2026, the cyber security segment is projected to account for 19.9% of the global military IT, data and computing market. By 2026, it is anticipated that the software and hardware segments will collectively hold 32.7% of the global market.
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