The global smart baggage handling system market will experience high demand in the forthcoming years, according to a Transparency Market Research (TMR) report. The market is moderately concentrated at present. High level of rivalry exists between the market players, who are keen to gain momentum in the smart baggage handling system market. Market competition is likely to accentuate with the entry of new, small-sized players in the coming years.
Vendors in the smart baggage handling system market are
leveraging innovative technologies with an aim to offer high quality products.
Examples of these technologies include internet of things (IoT), cloud
technology, machine-to-machine solutions, and others.
Prominent players in the global smart baggage handling
system market are Pteris Global Limited, Vanderlande Industries, Daifuku Web
Siemens Group, Fives Group, and SITA.
According to TMR’s projections, the global smart baggage
handling system market was valued to be worth US$1,508.6 mn in 2016. The market
is forecasted to rise at a stellar 19.4% CAGR over the forecast period from
2017 to 2025. Considering this figure, the smart baggage handling system market
is estimated to reach US$7,210.8 mn by 2025.
In terms of segmentation based on the technology,
radio-frequency identification (RFID) is anticipated to gain substantial market
revenue over the forecast period. Geography-wise, the North America smart
baggage handling system market is expected to emerge dominant. The region is
expected to exhibit a robust 20.5% CAGR over the forecast period.
Get PDF brochure for
Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=30998
Need for Customer Satisfaction Drives Market Growth
The smart baggage handling systems have enhanced customer
satisfaction for stakeholders. The smart baggage handling systems provide in
real time data and turn-over times for the support teams at the airport. This
solution is based on the basic concept of minimizing damage, misplacement and
baggage retardation. As a result, the market for the smart baggage handling
system is growing.
A modernization of existing airports, growth in airports and
air travelers and the increasing availability of people's revenues lead to high
demand on the handling of baggage and baggage tracking system are some of the
key drivers of growth in the world smart baggage system market.
Growing Adoption of Automation to Offer Opportunity
The increase in automation reflecting the increasing use of
conveyor systems reduced baggage mismanagement in 2018 compared to 2017,
according to the Société Internationale de Télécommunications Aéronautique,
SITA. A growing volume of domestic and international passengers in the air and
maritime sector has helped producers of baggage handling systems to find ways
of improving existing baggage handling technologies with automated sorting. In
the next couple of years the use of automation across various vertical systems,
including this industry, should boost the world market for smart luggage
handling systems.
High Initial Investments May Challenge Development
The growth of this market is being limited by factors such
as complex architecture and high initial investment. However, an increase in
the volume of passengers and cargo with a limited airport area offers market
players new opportunities for growth. Furthermore, the Baggage Handling System
Market is driven by the increasing focus on improving air connectivity and
developing intermodal transport. The drivers of the market and CAGR will meet
the market challenges in the coming years.
This review is based on TMR’s report titled, “Smart
Baggage Handling System Market (Type of Transport - Airport and Railway
Station; Technology-Barcode system and Radio Frequency Identification; Solution
- Sorting, Conveying, Tracking and Tracing, and Diverting) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025”
The Global Smart Baggage Handling System Market is
Segmented As Follows: Top of Form
By Mode of Transportation
- Airport
- International
- Domestic
- Railway
Station
By Technology
- Barcode
System
- Radio
Frequency Identification (RFID)
By Solution
- Sorting
- Conveying
- Tracking
and Tracing
- Diverting
- Other
Purchase our Premium
Research Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=30998<ype=S
About Us
Transparency Market Research is a next-generation market
intelligence provider, offering fact-based solutions to industry leaders,
consultants, and strategy professionals.
Our reports are single-point solutions for industries to
grow, evolve, and mature. Our significant-time data collection methods along
with ability to track more than one million high growth niche products are
aligned with your aims. The detailed and proprietary statistical models used by
our analysts offer insights for making right decision in the shortest span of
time. For organizations that require specific but comprehensive information we
offer customized solutions through adhoc reports. These demands are delivered
with the perfect combination of right sense of fact-oriented problem solving
methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for client-specific problems
with right methodology of research is the key to help enterprises reach right
decision.
U.S. Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
No comments:
Post a Comment