The US Government is being forced to spend more money on commercial off-the-shelf (COTS)-based cybersecurity tools and systems as they face intense attacks, according to a new report.
Analysts Frost & Sullivan’s recent report with the catchy title “US DoD Cybersecurity Market, Forecast to 2023”, reveals that intense attacks from adversaries and non-state actors are compelling Department of Defense (DoD) cybersecurity spend for commercial off-the-shelf (COTS)-based cybersecurity tools and systems and the development of quantum computing and artificial intelligence technologies.
Defense cybersecurity industry consolidation is expected to increase with firms emphasising the acquisition of dual-use commercial technologies.
Frost & Sullivan forecasts the market to 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.”
