Overview of the global soldier monitoring system market
Market research analysts at Technavio predict that the global soldier monitoring system market will grow steadily during the next four years and post a CAGR of almost 6% by 2021. This market research analysis identifies the miniaturization of electronic materials as one of the primary growth factors for this market. The technology has got smaller, faster and better, and is possible to integrate information, sensitivity, and intelligence into a single material that also increases the attraction levels. Miniaturization not only reduces the size but also helps in the elimination of components leading to simpler and lightweight products. The miniaturization of electronics and other components will drive the adoption of lightweight soldier monitoring systems during the forecast period, subsequently fueling market growth.
One of the latest trends that will gain traction in the soldier monitoring system market in the coming years is the adoption of sensor fusion technology. The military agencies are adopting an alternative approach to sensor fusion technology that advocates the blending of an assortment of sensors supported by an integrated software that delivers final products instead of the raw data set. This technology enhances the overall performance of the ground troops and eases army training.
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The global soldier monitoring system market is in the infancy stage. Major remote health monitoring technology providers are taking advantage of their resources with the latest technology to introduce competitive products into the market and gain a significant share of the total market for securing contracts. Smaller players are also engaged in various R&D projects in collaboration with other agencies to survive and succeed in the competitive soldier health and position tracking system market.
The leading vendors in the market are -
The other prominent vendors include Inova Design Solutions, Lockheed Martin, and Q-Track.
Segmentation by application and analysis of the soldier monitoring system market
The defense segment is expected to remain the dominant segment in the soldier health and position tracking system market throughout the forecast period. This is mainly due to the growing preference among defense agencies to provide continuous support to their ground troops as well as track health conditions. The deployment of such monitoring systems will not only increase situational awareness of field troops but also enable the military to exchange information using wireless networks, which will have a huge effect on the growth of the soldier monitoring system market.
Geographical segmentation and analysis of the soldier monitoring system market
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the soldier health and position tracking system market by 2021. The security requirements of the Americas are increasing with the growing threats from various militant groups and hostile countries and this increases their focus on providing soldiers wearables equipped with electronic devices that can enrich their situational understanding. The US has a large base of field military regiments and logistic systems and is the largest user of defense equipment and systems. Failed missions without the support of these units with advanced systems have triggered the need for investments towards the development of wearable devices that can establish a greater situational awareness for the field troops and is paving way for the growth of the soldier monitoring system market in the Americas.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global soldier monitoring system market?
What are the key market trends impacting the growth of the global soldier monitoring system market?
What are the challenges to market growth?
Who are the key vendors in the global soldier monitoring system market?
What are the market opportunities and threats faced by the vendors in the global soldier monitoring system market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global soldier monitoring system market?
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