DUBLIN–(BUSINESS WIRE)–The “Global Internet of Military Things Market Size, Trends & Growth Opportunity, By Accessibility, By Element, By Application, By Region and Forecast to 2027.” report has been added to ResearchAndMarkets.com’s offering.
Global Internet of Military Things Market was valued at USD32 billion in 2021 and is slated to reach at USD 63 billion by 2027 at a CAGR of 9.2% from 2022-2027.
For communication and a number of other objectives, modern military forces rely primarily on electronic networks. To analyse and disseminate data, advanced military forces have been investing in C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance) systems and infrastructure. By more effectively utilising and maximising the usage of a greater volume of the gathered data, IoMT seeks to advance this process.
Market Drivers
The need for global IoT in the military market has grown as a result of the necessity for increased national security. The condition of a Fighter on the field is quite tough to keep track of. The soldier’s jacket can be equipped with a variety of sensors that can track, detect, and send alerts about the soldier’s changing medical conditions to the command centre. From there, each combatant can be closely monitored and, in the event of an emergency, can be taken out of the field or given medical supplements based on their specific medical needs, both of which will support the market expansion.
National territories urgently require increased physical security at the national level, and defence IoT is essential to accomplishing this objective. A huge aspect in the growth of the global IoT in defence market has been the availability of a unified electronic manufacturing base across geographies.
The IoT in defence market is being driven by the benefits of IoT in terms of high connection, enhanced security, and quick decision-making abilities. Adopting IoT in the defence sector will enable real-time GPS tracking, vehicle sensor-embedded speed and motor condition displays, overall engine timings, fuel economy, and much more.
Market Restraints
The IoT’s enormous power consumption during conflicts or fights can further impede the market’s expansion for IoT in defence. IoT devices are evolving and becoming more widely used, making it difficult to keep the data they collect and transmit secure. Despite being a top priority, IoT devices aren’t always incorporated in the plan despite cybersecurity. Devices must be safeguarded against physical manipulation, network-based attacks, software attacks launched via the internet, and hardware attacks that may impede market expansion.
Market Segmentation
Global Internet of Military Things Market is segmented into Accessibility, Element & Application. By Accessibility such as Cellular, Wi-Fi, Radio Frequency Identification, Others. By Elements such as Software, Hardware, Services. By Application such as Equipment Maintenance, Health Monitoring, Real-Time Fleet Management, Training & Simulation, Inventory Management.
Regional Analysis
Global Internet of Military Things Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Due to its technologically advanced infrastructure, high internet of things (IoT) adoption, and rising demand for IoT in defence tools, North America accounted for the majority of revenue in the worldwide IoT in defence market.
In addition, technical developments like the conversion of industrial infrastructure into a smart setting and the incorporation of blockchain & cryptography techniques into IoT security services are projected to drive the Asia-Pacific market to new heights. Due to the rising urbanisation of the region, emerging economies like China and India, and other factors, the Asia Pacific region is predicted to grow quickly during the course of the projected time.
Market Taxonomy
By Accessibility
- Cellular
- Wi-Fi
- Radio Frequency Identification
- Others
By Elements
- Software
- Hardware
- Services
By Application
- Equipment Maintenance
- Health Monitoring
- Real-Time Fleet Management
- Training & Simulation
- Inventory Management
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Internet of Military Things Market Outlook
5 Global Internet of Military Things Market, By Accessibility
6 Global Internet of Military Things Market, By Elements
7 Global Internet of Military Things Market, By Application
8 Global Internet of Military Things Market, By Region
9 North America Internet of Military Things Market Analysis and Forecast (2022-2027)
10 Europe Internet of Military Things Market Analysis and Forecast (2022-2027)
11 Asia Pacific Internet of Military Things Market Analysis and Forecast (2022-2027)
12 Latin America Internet of Military Things Market Analysis and Forecast (2022-2027)
13 Middle East Internet of Military Things Market Analysis and Forecast (2022-2027)
14 Competitive Analysis
15 Company Profiles
Companies Mentioned
- Freewave Technologies
- Northrup Grunman
- AT&T
- Radisys
- Aerovironment Inc.
- General Atmoics Aeronautical Systems
- Textron Sysytems
- Honeywell International Inc.
- Elbit Systems
- Prox Dynamics.
For more information about this report visit https://www.researchandmarkets.com/r/le4m22
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Source: https://thenewscrypto.com/global-internet-of-military-things-market-report-2022-necessity-for-increased-national-security-rising-military-budgets-fuel-sector-researchandmarkets-com/