Digital Battlefield Market Projected to Grow at 12.4% CAGR, Reaching $142.32 Billion by 2034
Digital battlefield will be a lucrative market for start-ups that mainly focus on product innovation
ROCKVILLE, MARYLAND, UNITED STATES, July 30, 2024 /EINPresswire.com/ -- The global digital battlefield market1 is estimated at a value of US$ 41.22 billion in 2024 and is forecasted to increase at a CAGR of 12.4% from 2024 to 2034, reveals Fact.MR, a market research and competitive intelligence provider, in its recently updated industry report.Countries worldwide are focused on advancing their military and defense systems. Ongoing wars and geopolitical tensions, such as the Russia-Ukraine and Israel-Palestine conflicts, are driving other countries’ attention toward advancing their own defense mechanisms. Modernization of systems has led to an increased risk of cyberattacks and unknown or new threats. This growing risk of cyberattacks on traditional warfare technologies has promoted the adoption of digital battlefields.
High requirement for instant access to accurate and real-time information to facilitate rapid decision-making in battlefield environments is driving high demand for advanced defense technologies. Rising adoption of advanced wireless communication technologies, including 5G and tactical networks for seamless connectivity, is driving innovations in the digital battlefield space. Companies are leveraging big data analytics to derive actionable intelligence for effective decision-making. As such, the global market has been projected to expand around 3.5X over the next ten years.
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Key Takeaways from Market Study
The global digital battlefield market is forecasted to reach a size of US$ 142.32 billion by 2034.Sales of digital battlefield hardware solutions are evaluated at US$ 26.53 billion in 2024.
Airborne digital battlefield platforms are estimated to hold 50% of the global market share in 2024.The North American market is projected to climb to a value of US$ 49.81 billion by 2034.Sales of digital battlefield technologies in East Asia are projected to rise at a CAGR of 13.8% from 2024 to 2034.
“Artificial intelligence (AI)-based decision support systems and autonomous platforms are gaining huge attention due to their excellent operational efficiency and situational awareness features” says a Fact.MR analyst.
Market Scenario
Key players in the digital battlefield market are expected to find high-growth opportunities in emerging economies. High-potential markets of Latin America, MEA, and Asia Pacific are allocating heavy defense budgets. Thus, increasing investments in advancing their defense mechanism is set to boost the profit shares of digital battlefield solution providers in these regions.
Leading companies are collaborating with commercial technology firms and research institutions to expand their product offerings and reach a wider consumer base. New companies are focused on introducing advanced and cutting-edge digital battlefield solutions.
• Founded in 2019, Rebellion Defense is a United States-based company that manufactures mission-focused AI products.
Market to Gain Significantly from Growing 5G Infrastructure Deployment for Fast Data Gathering
Due to 5G's tremendous capacity—more than a million devices may be supported inside a square kilometer—the need for digital battlefield items will increase globally. A 5G network may connect several devices, including military equipment with smart sensor incorporated in it.
All self-contained platforms and technologies for the digital warfare, including unmanned ground vehicles and armored cars, may operate on a 5G network that allows real-time, high-speed data transfer. Autonomous platforms utilize this data to take action once it has been evaluated and received by the systems over the network.
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Adoption of State-of-the-Art Satellite-based GIS and Geospatial Analytical Tools for Real-Time Threat Detection
When presenting complicated information through digital battlefield devices during military combat operations, the geographical information system (GIS) is a well-known visualization tool that provides data in graphical form.
Integration of global positioning systems (GPS) and GIS may help military forces with location and visualization, and it can also be useful for surveillance systems. Digital battlefield systems with GPS and GIS integration can also provide real-time enemy asset location and status information. In order to adapt to the quickly changing digital combat circumstances, a number of nations are updating their armed forces.
Notable trends in the digital battlefield industry include the integration of technology like autonomous weapons, drones, hypersonic vehicles, robotics, electronic warfare, quantum computing, artificial intelligence (AI), big data analytics, and sophisticated missile defense systems. Nevertheless, these technologies are expensive to invest in. Low-budget nations frequently discourage the use of cutting-edge defense systems.
For modern warfare, digital battlefield tools are indispensable. Adopting cutting-edge defensive systems might be quite expensive for an economy with limited resources. Additionally, it takes money and time to fully digitize a nation's military system. It necessitates significant research and development work. High capital and technological know-how are needed for a digital battlefield that incorporates deep learning, the Internet of Things, and artificial intelligence. Moreover, digital warfare technology come with hefty upkeep costs.
Explore More Studies Published by Fact.MR Research:
Swarm Intelligence Market2 The global swarm intelligence market is estimated to boom at a CAGR of 40.5%, rising from its current valuation of US$ 15 million to reach US$ 450 million by the end of 2033.
3D Body Scanners Market3 The global 3D body scanners market accounts for a valuation of US$ 131.5 million and is projected to reach US$ 264 million by the end of 2027. Sales of 3D body scanners across the world are anticipated to increase at a stellar CAGR of 14.9% over the next five years.
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1 https://www.factmr.com/report/digital-battlefield-market
2 https://www.factmr.com/report/swarm-intelligence-market
3 https://www.factmr.com/report/3d-body-scanners-market
