Smart Baggage Handling Solutions Market Size to Grow by USD 3.85 bn through 2021-2025
Technavio research projects the smart baggage handling solutions market to grow by USD 3.85 bn, accelerating at a CAGR of almost 11% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Smart Baggage Handling Solutions Market: Key Market Driver
One of the primary factors that will trigger the growth of the smart baggage handling solutions market size is growing need for efficient baggage operations at airports and railways. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Smart Baggage Handling Solutions Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ALSTEF Automation SA, BEUMER Group GmbH & Co. KG, Daifuku Co. Ltd., Dimark Group Sp. zoo, Lenze SE, Lyngsoe Systems AS, MATREX SAS, Siemens AG, SITA, and Vanderlande Industries BV are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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The Global Smart Baggage Handling (SBH) Solutions Market is expected to grow by USD 3.85 billion, accelerating at a CAGR of almost 11% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Access our free sample report for detailed analysis
Smart Baggage Handling Solutions Market: Segmentation by Product
During 2020, the smart baggage and tracking devices segment dominated the market in 2020. The high rate of manhandling of bags have proved crucial to the dominance of this segment in the global market. Also, smart baggage management refers to the tracking of bags using a range of RFID tags, global positioning system (GPS)-enabled devices, Wi-Fi, cellular baggage tags, and baggage tracking devices. Therefore, the growth of the market segment is expected to be significant throughout the forecast period.
Smart Baggage Handling Solutions Market: Key Drivers to Impact Growth
The rising need for efficient baggage operations at airports is driving the smart baggage handling solutions market growth. SBH systems provide real-time data communication between the ground support teams while providing the airline's quick turn-around time. This will help to bridge this growing gap between the baggage operations and passenger satisfaction, The SBH solution reduces instances of baggage delay, damage, and lost bags that take a toll on an airlines' economy and cause inconvenience to passengers. In addition growing investments in the aviation internet of things (IoT) market is also expected to propel growth in the smart baggage handling solutions market size and share during the forecast period.
Smart Baggage Handling Solutions Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ALSTEF Automation SA, BEUMER Group GmbH & Co. KG, Daifuku Co. Ltd., Dimark Group Sp. zoo, Lenze SE, Lyngsoe Systems AS, MATREX SAS, Siemens AG, SITA, and Vanderlande Industries BV are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
