Bizizz Market Research has recently published a research report, “Smart Baggage Handling Systems Market By Technology Type (Bar Code and Radio Frequency Identification (RFID)), Functionality (Sorting, Conveying, Tracking and Tracing and Diverting), End-user (Airport, Railway Station, Sea Ports, Others (Bus Stations, Commercial Complexes, etc.)), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Smart Baggage Handling Systems Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 1.82 Bn by 2027, witnessing a CAGR of 16.8 % during the forecast period. Key drivers of the market are rising the travel industry along with the government policies on multimodal transport is projected to propel its market growth.
The market of the smart baggage handling systems has a significant market demand by an increase in the number of travelling by the customers. An exponential growth of smart baggage handling systems could be augmented by the freight forwarding market. Moreover airport infrastructure development is being surging that is contributing to the market demand of the Smart baggage handling systems. Moreover the market of logistics is also growing coupled with the innovative technology adoption is contributing to the market demand of smart baggage handling systems during the forecast period.
The Smart Baggage Handling Systems market is anticipated to register a CAGR of over 16.8% during the forecast period.
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By Technology, The Radio Frequency Identification (RFID) segment held a prominent share in Global Smart Baggage Handling Systems Market in 2018.
The global market of the smart baggage handling systems is being significantly contributed byThe Radio Frequency Identification. It has been accounted for about 50% of the market share for the smart baggage handling systems. It could be significantly being supported by an increase in the transportation centers globally because of the substantial number of the customers being travelling to various destinations. Thus the trends in the transportation and logistics industry are propelling the demand of The Radio Frequency Identification (RFID) in the global market and could be continued during the forecast period.
Asia pacific region is Anticipated to Dominate the Global Smart Baggage Handling Systems Market during the Forecast Period.
The asia pacific region is exhibiting substantial demand for smart baggage handling systems. Demand of smart baggage handling systems could also be stimulated by the increased development of transportation facilities especially in this region. The companies are also investing heavily in the smart baggage handling systems for innovative products that could be augment the market demand of these smart baggage handling systems. This region has a good potential of market growth for the smart baggage handling systems by the introduction of various transportation facilities c
Global Smart Baggage Handling Systems market was moderately consolidated with key players accounting for significant share in 2018. Thus, companies are offering innovative products that shall be contributed to the competency of the companies.
Prominent players operating in the Global Smart Baggage Handling Systems Market are: SITA, Alstef Automation S.A., Vanderlande Industries, Siemens AG, BEUMER Group GmbH & Co. KG, Pteris Global Limited, Daifuku Co. Ltd., G&S Airport Conveyor, Fives Group, Scarabee Systems & Technology B.V., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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