PORTLAND, Oregon, April 12, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, "World Situation Awareness Systems (SAS) - Market Opportunities and Forecasts, 2015-2022", forecast that the world situation awareness systems (SAS) market is projected to garner $32.6 billion by 2022, registering a CAGR of 8.2% during the forecast period (2016 - 2022). North America dominates the world SAS market, owing to the huge demand for situation awareness systems in the United States.
To know more about the report, visit the website at https://www.alliedmarketresearch.com/situation-awarness-SAS-market
Based on product type, the global SAS market is segmented into command & control system; fire & flood alarm systems; radio frequency identification (RFID); radar; chemical, biological, radiological, and nuclear (CBRN) systems; sonar; physical security information management (PSIM)/ access control (including HMI); and others. Command & control system accounted for the maximum revenue share in 2015, constituting around 31% of the total market revenue. In terms of growth, the radio frequency identification (RFID) segment is estimated to register the fastest CAGR of 9.7% during the forecast period. Based on verticals, the market is segmented into military & defense, healthcare, aerospace, marine security, automotive, mining and oil & gas, industrial, cyber security, and others. Military & defense segment dominated the market in 2015, accounting for 31.6% share of the overall market in terms of revenue.
The key components of situation awareness systems include network video recorders (NVR), sensors, global positioning system (GPS), displays, and others. Presently, displays segment drives the world situation awareness systems market by component, accounting for 44.4% share of the overall market in 2015. Displays offer visual representation of the data captured from devices such as network video recorders and surveillance cameras and find widespread applications in numerous industries. Furthermore, the world SAS market is analyzed based on geography into North America, Europe, Asia-Pacific, and LAMEA. North America dominated the world situation awareness systems market, accounting for 42% share of the overall market revenue in 2015. This region is expected to continue its dominance during the forecast period. From a growth perspective, Asia-Pacific is anticipated to witness the highest growth among all the regions. The SAS market in Asia-Pacific is projected to grow at a CAGR of 9.9% during the forecast period, owing to the presence of several key SAS providers and increasing demand for security and surveillance in countries such as India, China, and Japan.
KEY FINDINGS OF THE STUDY
By industry vertical, military & defense dominated the world situation awareness system market in 2015
Among the product types, RFID has the highest growth potential and is expected to grow at the fastest CAGR during the forecast period, owing to its increased application across industries such as automotive, marine security and healthcare
North America would be the dominant geography in the situation awareness systems (SAS) market throughout the forecast period (2016-2022), owing to the widespread adoption of SAS solutions across different industries for improved security
The report also outlines the competitive scenario of the world situation awareness systems (SAS) market, providing a comprehensive study of the key strategies adopted by companies operating in the SAS market. Key companies profiled in the report include Honeywell International Inc., Rockwell Collins, Inc., BAE Systems, Inc., Microsoft Corporation, Denso Corporation, D3 Security Management Systems, Inc., Lockheed Martin Corporation, Harris Corporation, and others.
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SOURCE Allied Market Research