The Global Military IT, Data and Computing Market 2012-2022 - Market Size and Drivers: Market Profile
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The global military IT, data, and computing market is estimated to value US$43.7 billion in 2012 and increase at a CAGR of 4.6% during the forecast period (2012-2022), to reach its peak of US$68.6 billion by 2022. The market consists of four categories: networking, software, cyber security, and hardware. The networking segment is expected to account for 43% of the global military IT, data and computing market, followed by the software segment with a share of 21%. The hardware market will account for 19% of the overall military IT, data and computing market, whereas cyber security will account for the remaining 17% market share. During the forecast period, the cumulative global expenditure on military IT, data, and computing is expected to reach US$605 billion.
North America accounts for the highest spend in the global military IT, data and computing market; the majority of expenditure can be attributed to the US, with Canada accounting for a small share. The US has spent a significant amount of its budget on military ERP projects in order to upgrade its information systems and to replace its numerous legacy systems. These efforts are further strengthened with the success of US military operations in Afghanistan and Iraq with minimal casualties. Major ERP programs include the General Fund Enterprise Business System (GFEBS), Logistics Modernization Program (LMP), and Defense Enterprise Accounting and Management System (DEAMS). The recent US defense budget cuts are not expected to have a significant impact on military IT, data, and computing spending as the US Department of Defense (DoD) is committed to continuously upgrade its existing IT infrastructure.
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