Situational Awareness System Market To Be Worth US$24.532 Billion by 2023
Introduction
Situational awareness system is used by
security forces, military, emergency services, and other agencies involved in
coordinated activities for operations such as drug trafficking, terrorism,
border control, defense, and emergency support situations. It helps in
collecting, visualizing, and analyzing information to facilitate surveillance
and security. It is used for the application that requires continuous
monitoring of different events for timely action.
Drivers
and restraints of Situational Awareness System Market
According to supply chain studies conducted by Knowledge Sourcing Intelligence,
increasing demand for situational awareness systems for security and
surveillance applications worldwide is the major driver of the situational
awareness system market. Growing cases of cyber attacks and terrorist attacks
across the globe are encouraging the use of situational awareness systems for
homeland and cybersecurity boosting the situational
awareness systems market growth.
Growing concern about improvement in security and public safety and the rise in
organized crime and terrorism are increasing the demand for these systems.
Rising government investments in the defense sector to improve military
intelligence is increasing the situational awareness system market growth.
However, the high implementation cost of these systems hamstrings the overall
market growth. Growth in IoT and increasing applications of sensors is going to
increase the situational awareness
systems market size.
Market
Segmentation
Geographically, North America has a
significant market share of the global
situational awareness system market share. The market share is
projected owing to high investment across the military and defense sector
coupled with the increasing incidence of cyber-attacks across different
industries. High demand for advanced security & surveillance systems and
smart devices is propelling the market growth. The market of Asia Pacific
region is expected to witness rapid growth on account of rising demand for
internet-based services coupled with the growing adoption of smart appliances.
Increasing military expenditure in the region is also contributing to the
growth of the market
By product, the market is segmented into
fire and flood alarm systems, human-machine interface, access control, radio
frequency identification, and others. The access control segment is expected to
have a significant market share due to its high demand for threat
identification and assessment, strategy planning aid, risk analysis, course of
action development, and monitoring. By component, the market is segmented into
sensor, MEMS, GPS, display, and others. By application, the market is segmented
as disaster response, robots, security & surveillance, driving/connected
cars, and others. Situational awareness in the security & surveillance
segment is expected to have a significant market share owing to increasing
terrorism, organized crime, hijacking, refugee smuggling, narcotics trading,
and illegal underwater activities. Moreover, security & surveillance is
very necessary for the homeland, cyber, maritime, and network security. By
industry vertical, the market is segmented into defense, automotive,
industrial, aviation, and others. The defense segment is expected to have a
significant market share on account of the increasing demand of these systems
in the defense sector to increase the safety of civilians.
According to competitive intelligence done
by Knowledge Sourcing Intelligence, major industry players are Honeywell,
Qualcomm Inc., Microsoft, General Electric, Denso Corporation, Rockwell
Collins, and BAE System among others.
Key
Questions Answered in This Report:
·
What are the key regions having
a significant market share of the market?
·
What are the drivers and
restraints of the market?
·
Who are the key market players
in the market?
·
What is market segmentation of
the situational awareness system market?
·
What are the applications of
the situational awareness system?
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