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The IoT in aviation market is projected to grow from $593 million in 2019 to $1,941 million by 2025, at a CAGR of 21.9% during the forecast period.
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The IoT in Aviation Market is projected to grow from $593 million in 2019 to $1,941 million by 2025, at a CAGR of 21.9% during the forecast period. Advancements wireless network technologies increased efficiency connectivity, and improved passenger experience some of the major factors driving the market. in and are Advancements in wireless network increased efficiency connectivity, and improved technologies and passenger experience are some of the major factors driving the market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=236860705 By end market, the airports segment is projected to grow at a higher CAGR during the forecast period. With increasing passenger traffic, airports are finding innovative ways to lower their operational costs and generate new revenue streams. By leveraging technologies such as IoT, airports can enhance their efficiency, specifically in the area of baggage handling, passenger handling, and air traffic control. By application, the passenger experience segment is projected to grow at the highest growth rate during the forecast period. The passenger experience segment of the IoT in aviation market is expected to grow at the highest rate during the forecast period. The focus of airlines to increase their ancillary revenues and growing demand for enhanced travel experience are driving the growth of this segment. The use of smartphones enables passengers to plug-in to airline apps for baggage tracking, alerts, and request personalized services. They can also connect to beacons in airports for easy navigation. North America is expected to lead the IoT in aviation market during the forecast period. Countries such as the US and Canada are considered under this regional market analysis. The US is expected to lead the IoT in aviation market in North America during the forecast period. The global need for optimizing operations at airports is fueling investments in the area of IoT, as implementing this technology has the potential to bring transparency in airport operations. With increasing passenger traffic and a fleet size of airlines, airports are required to make data-driven decisions by leveraging new technologies such as IoT, AI, and Blockchain.
Additionally, the presence of major airports and leading IoT in aviation companies in the US has resulted in high investments in the field of IoT in North America. Some of these leading companies include Microsoft Corporation (US), IBM Corporation (US), Cisco Systems, Inc. (US), and Honeywell Aerospace (US). Key Market Players Some of the major players in the IoT in aviation market include Microsoft Corporation (US), IBM (US), Huawei (China), Cisco (US), Wind River (US), Amadeus IT Group (Spain), SITAONAIR (Switzerland), Honeywell (US), Blip Systems (Denmark), Tata Sons (India), and Sendum Wireless Corporation (Canada). These players provide IoT solutions and platforms to various aviation companies. Ask for Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=236860705 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441
