ReportBuyer has released a new report that predicts the gobal military information technology, data and computing market will hit $80.5 billion by 2026 from $62.9 billion in 2016.
The growing demand for cloud-based infrastructure will drive the market during the forecast period to a compound annual growth rate of 2.50 percent, ReportBuyer said Wednesday.
The report further examines what influences the demand for military IT and what market obstacles the industry will face over the forecast period.
ReportBuyer forecasts the networking and cyber security segments to represent 47.4 percent and 19.9 percent of the market, respectively.
The North American region will account for 47.7 percent of the total military IT, data and computing market, and Asia Pacific and Europe for the 26.4 percent and 14 percent, respectively.
The report highlights the spending and modernization behavior of different regions worldwide and the preferences of military IT, data and computing segments globally.