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At 12.2% CAGR, Global IoT in Defense Market Size & Share to Surpass USD 32 Billion by 2028: Industry Trends & Forecast Report by Facts & Factors

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NEW YORK, United States, March 07, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “IoT in Defense Market By Application Type (Equipment Maintenance, Health Monitoring, Real-Time Fleet Management, Training & Simulation, and Inventory Management), By Element (Software, Hardware, and Services), By Accessibility (Cellular, Wi-Fi, Radio Frequency Identification, and Others) and By Region – Global and Regional Industry Outline, Market Insights, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” in its research database.

“According to the latest research study, the demand of global IoT in Defense Market size & share was worth around USD 32 billion in 2021 and is estimated to grow to about USD 65 billion by 2028, with a compound annual growth rate (CAGR) of approximately 12.2% over the forecast period 2022 to 2028.”

The study examines the drivers, restraints, and challenges that the IoT in defense market as well as the impact that these factors are having on demand over the forecast period. Additionally, the paper examines emerging potential in the IoT in the defense industry.

What is IoT in Defense? How big is the IoT in Defense Market?

Market Overview:

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The integration of the Internet of Things (IoT) into defense, also known as Military IoT, is an endeavor to build interconnected devices capable of performing a variety of military functions or missions. Defense IoT is expected to change information collection, analysis, and flow, allowing for more intelligent interactions across humans, interfaces, and networks, ultimately improving combat decision-making. Modern military forces rely heavily on electronic networks for communication and a variety of other activities.

Furthermore, the integration of IoT into the armed forces has a wide range of military benefits, ranging from equipment maintenance to personnel monitoring to stock management. Internet of Things is being developed on a global scale, with a focus on non-military uses for personnel. IoT is a viewpoint that considers the inevitable closeness of a variety of perceptive things and objects on the planet. They can connect and work with each other to create new applications through remote and wired connections, with the end goal of achieving shared objectives.

Get a Free Sample PDF of this Research Report for more Insights with Table of Content, Research Methodology and Graphs – https://www.fnfresearch.com/sample/iot-in-defense-market

 (A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 221+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global IoT in Defense Market: Growth Drivers

  • Rising demand to adopt advanced technologies are likely to pave the market’s growth

The need for improved national security has increased the demand for global IoT in the defense market. The defense industry of a region is seen as a valuable asset for the national territory, and it is critical that this sector be equipped with cutting-edge technology. As a result, demand for military IoT in the defense industry has been increasing at a rapid pace in recent years. National territories desperately need greater physical security on a national scale, and defense IoT plays a significant role in attaining this goal. The availability of a unified electronic manufacturing base across regions has also played an important role in the expansion of the global IoT in defense market.

The advantages of IoT in terms of high connectivity, increased security, and rapid decision-making skills are driving the IoT in defense market. Furthermore, the IoT in defense market is being driven by a growing demand for creative and dependable services. However, because of the nature of the Internet, connectivity, embedded operating systems, and backend resources, IoT objects are susceptible to cyber-attacks. Furthermore, the majority of traditional security solutions built for enterprise systems are inapplicable to IoT devices. On the other hand, massive power consumption by the IoT during battles or wars may also hinder the growth of the IoT in defense market.

Industry Major Market Players

Some of the main competitors dominating the global IoT in defense market are;

  • Freewave Technologies
  • Northrup Grunman
  • At & T
  • Radisys
  • Aerovironment Inc.
  • General Atmoics
  • Aeronautical Sysytems
  • Textron Sysytems
  • Honeywell International Inc.
  • Elbit Systems
  • Prox Dynamics

Directly Purchase a copy of the report with TOC @ https://www.fnfresearch.com/buynow/su/iot-in-defense-market

IoT in Defense Market: COVID-19 Impact Analysis

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The Covid-19 epidemic in 2020 had a negative influence on the economies of several countries throughout the world due to complete or partial lockdown and transportation restrictions. Defense IoT product producers, including subsystems and components, suffered considerable revenue losses. Although the use of IoT in the military for a variety of applications is becoming increasingly significant, the implementation of the lockdown caused a disturbance in the supply chain, resulting in a temporary halt in the production process. The global crisis also impacted long-term defense IoT contracts, which contributed to the global IoT in defense market’s falling growth.

The lack of industrial activity, restricted project investments, and slowing economic conditions resulted in lower global demand for industrial products. The Covid-19 pandemic, on the other hand, had a short-term influence on demand for military IoT in the defense sector. In addition, firms are cooperating with technological behemoths to create and deploy digital technologies that will improve the efficiency of military operations.

Key questions answered in this report:

  • What is the market size and growth rate forecast for IoT in Defense industry?
  • What are the main driving factors propelling the IoT in Defense Market forward?
  • What are the leading companies in the IoT in Defense Industry?
  • What segments does the IoT in Defense Market cover?
  • How can I receive a free copy of the IoT in Defense Market sample report and company profiles?

Key Insights from Primary Research:

  • As per the analysis shared by our primary respondents, the IoT in Defense market is expected to grow annually at a CAGR of around 12.2% over the forecast period 2022-2028.
  • Through primary research, it was established that the IoT in Defense market was valued at approximately USD 32 billion in 2021 and is predicted to grow to about USD 65 billion by 2028.
  • Over the past several years, hardware has dominated the worldwide Iot in defense market, and this trend is predicted to continue over the forecast period.
  • On the basis of region, North America generated the largest amount of revenue in the global IoT in Defense market.

Report Scope

Report Attribute Details
Market Size in 2021 USD 32 Billion
Projected Market Size in 2028 USD 65 Billion
CAGR Growth Rate 12.2% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Freewave Technologies, Northrup Grunman, At & T, Radisys, Aerovironment Inc., General Atmoics Aeronautical Sysytems, Textron Sysytems, Honeywell International Inc., Elbit Systems, Prox Dynamics., and Others
Key Segment By Application Type, By Element, By Accessibility, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Segmentation Analysis In IoT in Defense Market

The global IoT in defense market is segregated on the basis of application type, element, accessibility, and region.

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By application type, the market is divided into equipment maintenance, health monitoring, real-time fleet management, training & simulation, and inventory management. Real-time fleet management has the greatest market share in the global IoT in defense market.

By element, the market is classified into software, hardware, and services. Hardware has dominated the global IoT in defense market with the highest share in recent years and is expected to continue this trend over the projected period.

By accessibility, the market is divided into cellular, Wi-Fi, radio frequency identification, and others. Among these, the cellular connectivity mode is predicted to have the largest share during the forecast period because it provides more stable bandwidth correspondence for a number of audio and data real-time applications.

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Regional Dominance:

  • North America is expected to account for a sizable share of market revenue

North America earned the most revenue in the global IoT in defense market because of its technologically advanced infrastructure, high adoption of the internet of things (IoT), and growing demand for IoT in defense tools. Furthermore, technological advancements such as the evolution of industrial infrastructure to a smart environment and the integration of blockchain & cryptographic procedures across IoT security services are likely to propel the market in Asia-Pacific to new heights.

Asia Pacific region is expected to grow at a rapid pace throughout the projected period, owing to emerging economies such as India & China, increased urbanization, and other reasons.

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Recent developments

  • July 2021: Robotics Research (RR), LLC received an all-electric version of the RIPSAW® M5, known as the M5-E, from Textron Systems and Howe & Howe, Inc. This robotic vehicle was supplied in its flat-deck configuration to enable weapon integration testing at the US Army Combat Capabilities Development Command Armaments Center. The deal, which was won in the fall of 2020, resulted in a vehicle with innovative technology that provided unparalleled capability.
  • August 2021: The Missile Defense Futures Lab (MDFL) of Northrop Grumman Corporation has recently been established in Huntsville. MDFL, the company’s missile defense division, is leading the way in developing, testing, and fielding an integrated missile defense system with speed and precision.

The global IoT in defense market is segmented as follows:

By Application Type

  • Equipment Maintenance
  • Health Monitoring
  • Real-Time Fleet Management
  • Training & Simulation
  • Inventory Management

By Element

  • Software
  • Hardware
  • Services

By Accessibility

  • Cellular
  • Wi-Fi
  • Radio Frequency Identification
  • Others

Browse the full “IoT in Defense Market By Application Type (Equipment Maintenance, Health Monitoring, Real-Time Fleet Management, Training & Simulation, and Inventory Management), By Element (Software, Hardware, and Services), By Accessibility (Cellular, Wi-Fi, Radio Frequency Identification, and Others) and By Region – Global and Regional Industry Outline, Market Insights, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” Report at https://www.fnfresearch.com/iot-in-defense-market

Key Offerings:

  • Market Size, Share & Forecast by Revenue | 2022−2028
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis by Application Type, by Element, by Accessibility, and by Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request Your Free Sample Report of the Global IoT in Defense Market @ https://www.fnfresearch.com/sample/iot-in-defense-market

Browse Other Related Research Reports from Facts & Factors

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About Facts & Factors:

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Artificial Intelligence

VeriPark and FICO Announce Strategic Partnership to Transform Financial Services

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ISTANBUL, June 26, 2024 /PRNewswire/ — VeriPark and FICO have launched a partnership to revolutionize the financial services sector through AI-driven decision making and digital transformation.

 
The collaboration between VeriPark, a global provider of innovative digital solutions, and FICO, a renowned analytics software company, will enhance decision-making and promote financial inclusion across Turkey, the Middle East, Africa, Asia and CIS regions.
Combining FICO’s decision automation, optimization and omnichannel communications capabilities with VeriPark’s customer engagement, omni-channel delivery, branch automation and loan origination solutions, the partnership aims to improve customer experience and accelerate digital transformation.
“We are excited to bring FICO’s cutting-edge technology to our region. This collaboration will enhance customer experiences and operational efficiency across the financial services sector. Integrating FICO’s technology with our solutions represents a significant leap forward, ensuring we stay ahead in a rapidly changing environment. We look forward to showcasing our joint success stories soon,” said Ozkan Erener, CEO of VeriPark.
“The combination of FICO and VeriPark’s strengths brings a unique blend of innovation to the market. Our goal is to help build a better society by bringing more people into the banking system, and our partnership with VeriPark is a critical step towards achieving that. FICO has been working with AI since 1992, and we are eager to introduce this long-standing expertise to businesses in this region through our collaboration with VeriPark.” said Alexandre Graff, Vice President of Global Partners & Alliances, FICO.
About VeriPark (https://www.veripark.com)VeriPark is a global solutions provider enabling financial institutions to become digital leaders with its Intelligent Customer Experience suite. With offices located in United Kingdom, Europe, the United States & Canada, Asia, Africa and the Middle East, VeriPark is helping businesses to enhance their customer acquisition, retention and cross-sell capabilities by providing proven, secure and scalable Customer Relationship Management, Omni-Channel Delivery, Branch Automation, and Loan Origination solutions.
About FICO (https://www.fico.com/)FICO powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries.
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Artificial Intelligence

Altair Names Devoteam Channel Partner for the EMEA Region

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Devoteam to offer Altair’s leading data analytics and AI solutions throughout the EMEA region
TROY, Mich., June 26, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR), a global leader in computational intelligence, is thrilled to welcome Devoteam as a new channel partner for the EMEA region. Within the partnership, Devoteam will offer Altair’s leading data analytics and artificial intelligence (AI) solutions to its customers throughout the EMEA region.

“Partnering with Devoteam underscores our dedication to shaping the future of technology,” said Kimon Afsaridis, managing director of Eastern Europe and vice president of indirect EMEA sales, Altair. “This partnership marks a pivotal moment in our global expansion strategy, reinforcing our mission to lead and innovate in AI and beyond.”
“Together, Devoteam and Altair will help industrial companies harness the power of data to improve their efficiency, productivity, and competitiveness,” said Pablo Martin, industry and retail business unit director, Devoteam. “This collaboration is an important step in our commitment to help companies, particularly in the industrial sector, better their digital transformation efforts.”
Devoteam boasts more than 25 years of passion for tech and more than 11,000 tech-native specialists in offices in 25 countries. The company believes that technology combined with strong human values can drive change for the better, and specializes in managing large-scale projects while remaining agile enough to deliver customized solutions.
Altair works with a global network of channel and technology partners. To learn more or to become a partner, visit https://altair.com/altair-partners.
About Altair
Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit https://www.altair.com.
Media contacts
Altair Corporate
 Altair Investor Relations
Bridget Hagan
 Stephen Palmtag
+1.216.769.2658
+1.669.328.9111
[email protected]
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Altair Europe/The Middle East/Africa 
Charlotte Hartmann
+49 7031 6208 0
[email protected]
 
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Artificial Intelligence

IBM Study: Fan Engagement and Consumption of Sports Shifting, Reveals New Opportunities for Technology Integrations including AI

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International sports fans surveyed are optimistic about the impact of technologies like AI on their digital sports experiences.Real-time updates and personalized content rank as top priorities for fans when it comes to how generative AI can enhance following and engaging with sports events.Younger sports fans overwhelmingly embrace AI-powered experiences and digital platforms for sports content consumption and engagement.ARMONK, N.Y., June 26, 2024 /PRNewswire/ — As sports fans worldwide tune in to a myriad of athletic events this summer, new research commissioned by IBM (NYSE: IBM) reveals a growing generational shift and acceptance of technology-driven experiences that will impact the future of sports consumption.

The international study*, conducted by Morning Consult, gathers insights from more than 18,000 sports fans across 10 countries to better understand both how they follow and engage with sports, including live coverage, highlights, and summaries, as well as preferences for future engagement and consumption. The findings confirm that fans are prioritizing more personalized and time-saving digital sports content, with the majority recognizing the positive impact technologies like artificial intelligence (AI) will have on these experiences.
The data also confirms that younger sports fans are more likely to favor AI-enhanced features as they increasingly turn to digital platforms for sports content. Surveyed fans aged 18-29 are using a mobile phone or tablet as their primary device to watch sporting events more often than older fans, with subscription streaming of live sporting events being most popular among the younger age group. More than half (58%) of 18-29 year old respondents also believe AI will have a positive impact on sports.
Alternatively, respondents from older age groups remain loyal to traditional methods of consumption, with linear broadcasting being most popular among fans 45+. Forty percent of surveyed fans over the age of 55 believe AI will have a positive impact on sports.
“Fans worldwide are continuing to embrace platforms and solutions that allow them to feel more connected and informed on their favorite sporting events and athletes, and IBM’s new study confirms this now includes embracing technologies like AI to deliver these experiences,” said Noah Syken, Vice President, Sports and Entertainment Partnerships. “IBM’s longstanding portfolio of Sports and Entertainment partnerships aims to deliver on these expectations from fans by putting in the hands of our partners the most advanced IBM technologies from our AI and data platform watsonx.”
Other key study findings include:
Fans are optimistic about the impact of technology on sports, paving the way for generative AI powered experiences
63% of respondents point to data analytics as having the most positive impact on sports, while 50% of respondents think AI will have a positive impact.When it comes to how generative AI can improve engagement, surveyed sports fans identify real-time updates (34%) and personalized content (29%) as the top priorities.India, UAE and Saudi Arabia rank the highest in countries where fans are prioritizing real-time updates and personalized content powered by generative AI.Fans now prioritize personalized, bite-sized content when it comes to their consumption of sport content
More than half (56%) of respondents turn to social media for additional sports content; 46% are getting additional content from broadcast/video news while 35% are turning to news articles.64% of those fans engaging in additional sports content are viewing highlight videos of best moments; 48% are consuming post-match recaps and analysis.Among those engaging in additional sports content, respondents rank summarized content (33%) as their top priority followed by personalized content (26%).Sports fans are watching event summaries more often, with 41% of respondents indicating they watch summaries or highlights weekly; 24% report daily engagement.Younger fans may be reshaping how consumers experience sports content, as they engage with content via multiple screens and are more likely to favor AI-powered enhancements
Younger fans (18-29) are most likely to view sports highlights through social media over other platforms.When it comes to consuming sports content, fans aged between 18-29 are more likely to rank personalized content as their top priority.Fans aged 18-29 are more likely to rate AI improvements as high priority, with real-time updates (40%) and personalized content (36%) topping the list of priorities.While real-time updates (26%) and personalized content (19%) also top the list of AI improvement priorities among older fans (55+), these respondents are much less likely to consider AI improvements a high priority.Younger fans are also more likely to be using multiple devices while engaging with sporting events than older fans (55+). 10% of younger fans surveyed use three or more devices while watching sports compared to only 2% of older fans.While TV is the most common method for viewing sports, fans are increasingly using multiple devices to follow sporting events
64% of surveyed fans say linear or streaming TV is their top choice for watching sports.31% of respondents say they are most likely to watch a live sporting event on linear broadcast; 28% say they use a subscription streaming service and 23% use a free streaming serviceSubscription streaming of live sporting events is most popular among younger fans aged between 18-29.Mobile devices are a noteworthy alternative for watching sports, with 20% of consumers reporting it is the top way they watch sporting events and 38% saying it is their second most likely options.28% of surveyed sports fans use at least two devices while watching sporting events; 24% report they use at least two devices while listening to sportsFans between 18-44 are more likely to be using three or more devices.Respondents rank multi-tasking as the top reason for using multiple devices when consuming sports, followed by finding more game information while watching or listening to the sport.To view the full study, visit: https://newsroom.ibm.com/image/IBM+Global+Sports+Attitudes+and+Behaviors+Report+June+2024.pdf
*Study MethodologyThis survey was conducted in May 2024 among a total sample of 18,082 sports fans 18+ in the US, Canada, the UK, France, Germany, Italy, Spain, India, the UAE, and Saudi Arabia. The interviews for each country were conducted online, and the data is unweighted, with ~2,000 responses per market in the US, Canada, the UK, France, Germany, Italy, Spain, and India and ~1,000 responses per market in the UAE and Saudi Arabia.
To qualify for this survey respondents must be at least an average sports fan and follow one or more of the following sports: Soccer, Cricket, Tennis, Basketball, Baseball, Rugby, Golf, American football, F1 racing, Track and field, Swimming, and the Olympics.
About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
Media Contacts:
Sarah BenchaitaIBM Corporate [email protected]
Marisa ConwayIBM Corporate [email protected]
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