Market - - Nov 03,2017
The worldwide construction of new airports that are equipped with state-of-the-art technology is on the rise, which consequently driving the smart baggage handling system market.
Smart baggage handling (SBH) solutions, is among one of the best use of industrial IoT. With the enormous number of people traveling on a regular basis, many airlines have faced the nightmare of goofing up with baggage handling. Recent automated baggage handling technologies range from sorting, conveying and tracking systems to explosives detection and early bag storage and retrieval.
Looking to the rising baggage handling issues, the construction of new airports has increased in recent years that are installed with smart solutions. The installation of these systems enable easy tracking and handling a large volume of baggage which is critical to the growing air traffic in emerging regions. Presently, some of the prime factors that are driving the market growth are technological improvements of airports, rising number of airports worldwide, inclination towards the adoption of improved systems of handling and tracking baggage. Technologies used to improve the smart baggage handling system issues are Radio frequency identification system (RFID) and barcode system.
As per the study evaluations, the global market for smart baggage handling system is on a tremendous growth route and is expected to generate substantial revenue with US$7,210.8 Mn by the end of 2025. Furthermore, the concerned market is also projected to augment at an impressive CAGR of 19.3% during the period until 2025. In the last couple of years, construction of new airports in North America has grown, which makes it a dominant region in the global market.
In matters of competition, players are hard-focused on collaborations to expand their outreach. Some of the striking players include names like Daifuku Web Siemens Group, Pteris Global Limited, Fives Group, G&S Airport Conveyor, Vanderlande Industries, Beumer Group.
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