The global baggage handling system market is projected to grow to USD 13.7 billion by 2025 from USD 8.4 billion in 2018, at a CAGR of 7.28%
LONDON, April 10, 2019 /PRNewswire/ -- Increasing focus on air connectivity and development toward automated luggage handling to drive the demand for baggage handling systems.
Download the full report: https://www.reportbuyer.com/product/5764008/?utm_source=PRN
The global baggage handling system market is projected to grow to USD 13.7 billion by 2025 from USD 8.4 billion in 2018, at a CAGR of 7.28%. Improvement in the current infrastructure of airports and establishment of new airports would accelerate the growth of the baggage handling system market. The higher cost of maintaining advanced baggage handling systems is restraining the growth of the baggage handling system market.
Self-service to be the fastest growing baggage handling system market, by check-in service type.
Self-service check-in is projected to be the fastest growing market in the baggage handling market by 2025.Airports are planning to be more customer-centric in terms of their services.
Self-service bag check-in technologies such as kiosks are currently the trending technology at all major airports.Passenger IT Insights 2019 reports that passengers are more satisfied when they are using self-service check-in technology.
For instance, the automated passport control system had risen from 21% in 2017 to 44% in 2018. Hence, self-service check-in is gaining momentum and is the fastest growing service in the baggage handling system market.
Barcode system to be the largest baggage handling system market, by tracking technology.
Barcode tracking technology is the most widely used technology in baggage handling.Moreover, this system is cost-effective and easy to implement compared to other systems such as RFID.
Most airports in developed and developing countries are still using barcode tags and readers because of their low cost and proven efficiency.As per industry insights, the barcode system is expected to continue dominating the overall market, as the RFID system is still in its initial stage of growth.
Hence, Barcode tracking technology is the largest segment and will continue to be the highest contributor to the baggage handling system market.
Asia Oceania is estimated to be the largest growing market for baggage handling system, by region.
The Asia Oceania baggage handling system market is driven by the dominating airport industries in China and India.In recent years, the region has seen the highest airport and metro infrastructural growth.
Strong economic growth, increasing focus on smart cities, development related to old airports, and favorable government policies have triggered the demand for baggage handling systems in the region.Daifuku (Japan) is the leading baggage handling system player in the region.
Due to the ever-growing air passenger traffic, China accounts for the highest share in the total Asia Oceania baggage handling system market.Additionally, with a significant focus of the government on the development of new airports, India is expected to play a key role in the Asia Oceania baggage handling system market.
On the other hand, MEA is estimated to be the fastest growing region of the baggage handling system market. The growth of the MEA baggage handling system market is fueled by factors such as increasing government investments in airport infrastructure, rising demand for air travel in neighboring regions such as Asia Oceania and Europe, expansion of trade and tourism, and centrality of the region in the global trade network. In recent years, the UAE has become a global leader in trade and tourism, which has led to increased air travel to and from this region significantly. The FIFA World Cup in 2022 is scheduled to take place in Qatar, and the country has undertaken several infrastructural development projects to cater to the global audience. Owing to the above-mentioned factors, Asia Oceania is estimated to be the largest and MEA the fastest growing baggage handling system markets.
Breakup of primary respondents
• By Company Type: Tier I - 60%, Tier II - 20%, and Others* -20%
• By Designation: C level - 40%, D level - 30%, Others – 30%
• By Region: Europe - 40%, Americas - 10%, Asia Oceania - 20%, MEA – 30%
The baggage handling system market is dominated by global players and comprises several regional players as well.The key players in the high voltage battery market are Siemens (Germany), Vanderlande Industries (Netherlands), Daifuku (Japan), Pteris Global Limited (Singapore), Fives (France), and SITA (Switzerland).
The study includes an in-depth competitive analysis of these key players in the baggage handling system market with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
Research Coverage
The study segments the baggage handling system market by mode of transport (airport, railway, and marine), tracking technology (barcode and RFID), service (assisted service and self-service), type (conveyor and DCV), solution (check-in, screening, and loading; conveying and sorting; and unloading and reclaim), and region [Asia Oceania (China, India, Japan, Australia, Singapore, Thailand, and Rest of Asia Oceania), Europe (France, Germany, Italy, Spain, Netherlands, UK, and Rest of Europe), Americas (Brazil, Canada, Mexico, US, and Rest of Americas), MEA (Qatar, South Africa, UAE, and Rest of MEA)].
Key Benefits of Buying the Report:
This report provides insights with reference to the following points:
• Country-level market by solution and service: The report offers in-depth market sizing and forecast up to 2025, by solution (check-in, screening, and loading; conveying and sorting; unloading and reclaim) and by check-in service type (assisted service and self-service). The market sizing for baggage handling system is covered at the country and regional levels that are considered in this study.
• Market coverage by mode of transport for railway, airport, and marine at the regional level.
• The report provides "Market Share" of the leading players in the baggage handling system market.
• Competitive Leadership Mapping: The report provides competitive leadership mapping analysis for key players that offer baggage handling systems along with the findings and analyses on how well each market vendor performs.
• Market Development: The report provides comprehensive information about lucrative emerging markets for baggage handling systems across different regions.
• Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the baggage handling system market.
• Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the baggage handling system market.
Download the full report: https://www.reportbuyer.com/product/5764008/?utm_source=PRN
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article