Press release
Situational Awareness Market Set for Rapid Growth by 2024
Situational awareness is the environmental perception of the events with respect to space or time. It is the study to understand environment critical to decision-makers in the complex situations such as air traffic control, power plant operations, dynamic areas from aviation, ship navigation, military command & control, and emergency services including fire fighting and policing from ordinary to more complex situations such as riding a bicycle or driving the automobile. Situation awareness involves the understanding of how events, information, or own action influences objectives and goals immediately or in future. One with a proficient sense of situation awareness usually has a high degree of knowledge along with a proper sense of inputs and outputs to the system. Lacking situational awareness is the basic factor in accidents accredited to human errors. Hence, situational awareness plays a vital part in the work domains where information flow is quite high, and poor decisions may lead to serious consequences.
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Global Situational Awareness Market: Growth Factors
The global situational awareness market is driven by factors such as rising government initiatives toward disaster management and public safety. Acceptance of new software technology for visualizing, collecting, storing, and analyzing operational control data will augment the growth of the global situational awareness market in future. In addition, ground vehicle technology and security incident and event management (SIEM) software may impact the global situational awareness market in a positive way.
Global Situational Awareness Market: Segmentation
The global situational awareness market is divided based on applications as logistics, business intelligence, natural and cultural resources, robots, smart infrastructure management, security & surveillance, disaster response, environmental impact tracking, driving/connected cars, and crisis management. Based on industry, the global market is bifurcated as automotive, military & defense, homeland security, healthcare, construction, maritime security, aviation, and cyber security.
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Global Situational Awareness Market: Regional Analysis
Asia Pacific is the leading region in the global situational awareness market due to the adoption this in applications of cyber security, military & defense, and industrial. China and Japan are the fastest growing markets for situational awareness systems. Moreover, increasing purchasing power and adoption of smart devices will foster the market in the near future. North America holds the largest market share in the global situational awareness market. High penetration of the situational awareness system and developing technologies in this will considerably bring huge positive changes in the market. Hugh investments in the U.S. in the military and defense sector in order to improve situational awareness will also influence the market in the coming years.
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Global Situational Awareness Market: Competitive Players
Some of the major players in the global situational awareness market include DRS Technologies, Lockheed Martin Corp., Proximex Corp., Denso Corp., Advanced Micro Devices, Inc., Xilinx, Inc., Honeywell International, Inc., General Electric, CNL Software, and Microsoft Corp. Other key players in the global market are Xilinx, Inc., Honeywell International, Inc., General Electric, Advanced Micro Devices, Inc., Harris Corp., Denso Corp., Lockheed Martin Corp., Rockwell Collins, Qualcomm, Inc., Microsoft Corp., and BAE Systems, Inc.
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