Baggage Handling System Market Share, Trends and Forecast (2019-2025) – iCrowdNewswire
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Jun 12, 2019 11:46 PM ET

Baggage Handling System Market Share, Trends and Forecast (2019-2025)


Baggage Handling System Market Share, Trends and Forecast (2019-2025)

iCrowd Newswire - Jun 12, 2019

The Baggage Handling System Market is projected to grow at a CAGR of 7.28%, from USD 8.4 billion in 2018 to USD 13.7 billion by 2025.

 

The growing focus on improving air connectivity and the development of intermodal transport will drive the baggage handling system market. Additionally, the rising smart city projects and the growing maritime industry are also expected to drive the demand for baggage handling systems. Factors such as complex architecture and high level of initial investments are restricting the growth of this market. However, an increase in passenger and cargo traffic with a limited airport space provides new growth opportunities for the market players.

 

Key Questions addressed by the report

 

  1. What are the upcoming trends and technologies in the baggage handling system market?
  2. How important is the role of the government in your region in the development of the Market?
  3. What would be the share of metros and railways in the total market?
  4. How will Resolution 753 change the business landscape of baggage-handling tracking technology?
  5. Which are the key players in the market?

 

Don’t miss out on business opportunities in Baggage Handling System Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

 

In the mode of transport, the airport segment is projected to be the largest contributor during the forecast period.

 

The luggage handling system market for airports is estimated to account for the largest market share during the forecast period. Airports contribute almost 95% share of the market. According to primary insights, the airport segment will continue to dominate the market in the next 20–30 years. With aggressive incentives and mandates from the government, India and China have established themselves as leaders in the airport industry. Airport luggage handling systems play an important role in the global economy as they attract many suppliers and manufacturers for business investments. The growth of this market can also be attributed to the increasing percentage of air passenger traffic worldwide. According to the International Air Transport Association (IATA), the global annual average air passenger journeys are projected to grow by about 3.8% from 2014 to 2034. The airports must be equipped with the latest technologies of baggage-handling systems, which can manage the movement of baggage in and out of the check-in and checkout points at airports.

 

Asia Oceania is expected to account for the largest market size during the forecast period.

 

Asia Oceania is projected to hold the largest market share. Factors such as growing air passenger volume, upcoming airport projects, presence of cruise industry, the scope for multimodal transport, the economy of countries, government investments in railway, marine, and airport projects, consumer acceptance, and government regulations have triggered the demand for baggage handling systems in the region. Due to the ever-growing air passenger traffic, China accounts for the highest market share of the Asia Oceania market. According to the IATA, India is expected to be the third largest aviation market (in terms of passengers) by 2024, which will make Asia Oceania the largest travel market in the near future. Such developments are expected to help Asia Oceania dominate the market in the near future as well.

 

Download PDF Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=222241953

 

RFID system to be the fastest growing segment for the baggage handling system market, by tracking technology.

 

The airline industry is a customer service oriented industry, which leads to immense competition. Today, the key challenge for the airport industry is to reduce baggage mishandling. Baggage mishandling can lead to customer dissatisfaction. According to the Ministry of Civil Aviation, between November 2016 and June 2018, domestic Indian airlines received 763 grievances related to baggage—the fourth highest after complaints about flight delays, ticket fares, and check-in and boarding. In response to that, companies and authorities are focusing on the development of an effective baggage handling system. For instance, the International Air Transport Association (IATA) has been working toward ‘Resolution 753’. RFID systems have a better coverage area than barcode systems and do not need to be positioned in the line of sight for scanning. The RFID system segment is expected to show strong growth in the coming years, with Resolution 753 mandates. However, according to primary insights, Resolution 753 will never discard barcode systems completely

 

The key players in the baggage handling system market are Siemens (Germany), Vanderlande Industries (Netherlands), Daifuku (Japan), Pteris Global Limited (Singapore), BEUMER (Germany), and SITA (Switzerland).

Contact Information:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]






Keywords:    Baggage Handling System Market

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