According to a new market research report published by Credence Research “Advanced Electronic Technologies for the Intelligence Community Market (Technology – ISR, Cyber Security, Data Analytics, Video Surveillance, Communication Systems, Disaster Warning and Recovery Systems, Biometrics, RF Devices and Others) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, the global advanced electronic technologies for the intelligence community market was valued at US$ 24.25 Bn in 2015 and is projected to reach US$ 35.34 Bn by 2023, expanding with a CAGR of 4.8% through the forecast period 2016 to 2023.
Market Insights:
The global advanced electronic systems for intelligence community markets are undergoing major shifts. Attacks on major countries and key regions of Middle East and Africa, Europe and Asia have shook the intelligence community, where further growth in such instances is anticipated with emergence in power of adversaries. Markets that were once dominated by North America and West Europe is moving towards East. Rapid developments in ICT technologies are further creating newer opportunities in the advanced electronic systems in intelligence community for intelligence community market.
The overall advanced electronic technologies for the intelligence community market is highly driven by the rising expenditure worldwide over defense and intelligence organizations. Many national governments are now more inclined towards installing advanced surveillance and analytics solutions so as to monitor and predict threats to their nations. Due to significant threat from terrorists’ attacks across different countries, the demand for better surveillance, communication analytical solutions is expected to soar substantially during the forecast period. Rising threat of cybercrime is another major factor fueling the market growth.
Competitive Insights:
The overall advanced electronic technologies for the intelligence community market is highly competitive in nature. National governments are the only major customers for market players. Subsequently, companies operating in the market have special focus towards acquiring government contracts of various nations worldwide. Majority of the companies in the market are quite established and have long history in the market. This significantly minimizes the threat of new entrants in the market. However, with the ever rising threat of terrorists’ activities, there exists a strong need for constant innovation and upgrading of the existing systems. As a result, market players invest heavily on research and development so as to cope with the rapidly changing customer demands.
The complete report is available at http://www.credenceresearch.com/report/advanced-electronic-technologies-for-the-intelligence-community-market
Key Trends:
- High focus on research and development in electronic systems as well as platforms
- Acquisition and partnership with the existing players in market
- Definitive agreements for new product development
- Focus on government contracts
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