According to global technology, research and advisory organisation, Technavio, the military cybersecurity market is set to expand by $4.11bn USD over the period from 2019 to 2020, progressing at a CAGR of over 4% over the prediction timeframe.
Technavio’s report, which can be accessed here, offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period, the study says. The research concludes that the use of cloud-based solutions will offer immense growth opportunities.
In order to make the most of subsequent opportunities, analysts say, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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