Report: SAS market to hit $168.25B by 2020

Friday, November 8, 2013

DALLAS—The market for situation awareness systems is expected to grow more than 10 percent, generating revenue of $168.25 billion by 2020, according to a new Marketsandmakets report released Nov. 7. 

Demand for SAS will increase with growing awareness of the safety and security measures being implemented by defense, aviation, business and security industries, the report predicts.

The report says defense accounted for the largest share of market revenue, with the civil realm generating the least. Video systems currently hold the largest share of market revenue, and physical security information management the least, the report says. But, PSIM is expected to grow exponentially during the forecast period.

While the United States holds 60 percent of the market share revenue, the regions of Asia-Pacific, China, South Korea and India are expected to grow between 2013 and 2020.

The report, released Nov. 7, encompasses SAS by product, vertical, applications and geography.