DUBLIN–(BUSINESS WIRE)–The “Global Military IoT & Sensors – Market and Technology Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The Total Global Market for IoT & Sensors in Defense is estimated at around USD 29.74 Billion in 2020 and the market is expected to grow to around USD 48.41 Billion by 2028.
The CAGR of the market is accounted for at around 6.28%. The APAC region is expected to be the fastest-growing market at a CAGR of 8.5% during the forecast period. The North American market would emerge as the largest market by the end of the forecast period with an estimated revenue of around USD 21 billion during the year 2028.
The Internet of Things is a data value-creating tool. Throughout the private sector, the way goods and services are developed and delivered and how infrastructure is handled and maintained is changed. The impact of IoT on the commercial world has been enormous, resulting in substantial efficiency improvements and productivity.
DoD has the potential to reap the enormous benefits of IoT by working with the private sector and the adoption of modern, IoT-enabled business practices. IoT technologies have the ability to support the military to make substantial efficiencies, improve security and communication networks and generate significant cost savings.
IoT reflects the integration of several integrative areas such as connectivity, embedded hardware, radio spectrum, mobile computing, internet technology, software architectures, sensor systems, energy efficiency, data management and data analysis. The rapid expansion of IoT is supported by falling costs and mass production of increasingly powerful microelectronics such as sensors, processing units, and receivers.
Factors such expansion of wireless networking, digital storage & processing, the efficiency of computing structures, growth of innovative software applications and analysis, including recent advances in machine-learning techniques for big data analytics, are expected to drive the growth of the IoT market.
The report is aimed at:
- The key drivers, restraints and challenges which are expected to shape the Global IoT & Sensors in Defense Market are covered in detail in the report.
- The key technologies which could have an impact on the Global IoT & Sensors in Defense Market have been covered in detail.
- The top fifteen countries have been analyzed in detail with the value of sensor and equipment units imported and exported by platform and by country, respectively.
- The Porter’s Five Forces and the PEST Analysis of the Global IoT & Sensors in Defense market have been covered in the report.
- The high growth markets have been identified in the Opportunity Analysis Chapter.
- The market has been forecasted from 2020- 2028 considering all the factor, which is expected to impact the market.
- The Scenario Analysis Chapter covers the key scenarios and its impacts on the forecast chapter.
Segmentation covered in this report
- North America
- Middle East
- Satellite Communication
- None (Sensors)
Country Level Analysis
- United Kingdom
- South Korea
- Aselsan A.S.
- BAE Systems
- General Dynamics Corp.
- Harris Corp.
- HENSOLDT GmbH
- L3 Technologies Inc.
- Leonardo S.p.A.
- Lockheed Martin
- Northrop Grumman
- Raytheon Co.
- TERMA A/S
- THALES S.A.
For more information about this report visit https://www.researchandmarkets.com/r/32zjeh
Laura Wood, Senior Press Manager
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