COTS cybersecurity spend to grow significantly in next five years, say analysts
SAN ANTONIO, Texas. Spending on cybersecurity by the U.S. Department of Defense (DoD) will hum along at a healthy rate over the next five years, as firms continue to emphasize the acquisition of dual-use commercial technologies, according to a recent market study by Frost & Sullivan, "U.S. DoD Cybersecurity Market, Forecast to 2023."
The analysts forecast the spend for commercial off-the-shelf (COTS)-based cybersecurity tools and systems and the development of quantum computing and artificial intelligence technologies will reach $4.30 billion by 2023, growing at a compound annual growth rate (CAGR) of 2.3 percent.
“Persistent attacks on DoD networks make cybersecurity integration and new technology development necessary. There will be an increasing need for firms that can provide state-of-the-art cybersecurity services,” said Brad Curran, Industry Principal, Defense at Frost & Sullivan. “Maintaining network resiliency by assuring that people with the most advanced cybersecurity skills are available as well as ensuring robust cybersecurity and attack information coordination is a top priority for the DoD.” Curran goes on to say that he expects future cybersecurity developments to focus on the ability to integrate cybersecurity, offensive cyber tools, and distributed live training into operational planning; the continuous improvement of cyber protection of weapons; and traditional frequency spectrum-based communications, electronic warfare, and geospatial intelligence operations merging with network attack tools.
For additional information on the study, visit the F & S website.