Published Date : Apr 27, 2016
A cyber weapon is an IT-based system comprising hardware, software, and a communication medium, which is designed to damage structures and operations of other IT-based system. Cyber weapons are malicious programs and codes that are used by spy organizations and military defense, to violate the confidentiality of the target systems. Hackers and programmers use vulnerabilities in software and weaponize them to develop cyber weapons.
According to a report published by a market intelligent firm called Transparency Market Research, the global cyber weapon market which was valued at US$ 390.00 bn in 2014, is expected to value at US$521.87 bn by 2021, expanding at a CAGR of 4.4% from 2014 to 2021.
Rising Threat of Cyber Attacks Boosts Global Cyber Weapon Market
The cyber weapon market is driven by rising security concern for critical infrastructures of the national defense systems, the industrial control systems, and communication networks. The emergence of cyber as the new domain for warfare is driving the cyber weapon market. Rising threats of cyber-attacks is also expected to boost the cyber weapon market. There is increased focus on developing counter cyber-attacks by various government and intelligence agencies, boosting the cyber weapon market. However, the strict government regulations to prevent misuse of cyber weapons is restraining the growth of the cyber weapon market.
North America to Dominate Global Cyber Weapon Market
Geographically, North America dominated the cyber weapon market in 2015. North America will continue to dominate the market in future as the emergence of cyber as the new domain for warfare fuels the demand for cyber weapons. Moreover, the recent arrack on critical infrastructures in the region has also led to the growth of the market in North America. Training cyber professionals and cyber army in the region is aiding the growth of the market.