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Smart Baggage Handling System Market By End-use (Airport, Railway Station, Sea Ports and Others), By Functionality (Sorting, Conveying, Tracking and Tracing, and Diverting), By Technology (Bar Code and Radio Frequency Identification) – Growth, Future Prospects and Competitive Analysis 2019 - 2027

Growing Travel Industry to Boost Demand for Smart Baggage Handling Systems Worldwide

The global smart baggage handling systems market was valued at US$ 1.20 billion in 2018 and was expected to grow at a CAGR of 13.6% from 2019 to 2027. Rising travel and tourism industries and the modernization of existing airports and railway stations are driving growth for the smart baggage handling systems market worldwide.

To handle the huge amount of cargo and passenger baggage traffic, the demand for smart baggage handling systems is increasing. Consequently, we are expecting the smart baggage handling system market to show robust growth throughout the forecast period.

Market Synopsis

Radio Frequency Identification (RFID) Technology to Continue Leading the Market during the Forecast Period

Based on technology, the global market for smart baggage handling systems is categorized into bar code and radio frequency identification (RFID). The radio frequency identification (RFID) segment was the largest value contributor, with over 50% of the revenue share in 2018.

RFID has the largest share owing to its benefits, such as 99.99% accuracy, cost-effective automated compliance, and low operational cost, among others. RFID technology provides end-to-end baggage tracking from the drop-off point to the pick-up point. As a consequence, we presumed that RFID technology would continue to lead the smart baggage handling system market during the forecast period.

Asia Pacific will be the fastest growing region throughout the forecast period.

North America was the largest market for smart baggage handling systems in 2018, accounting for more than 1/3 of the market share. The dominance is due to the ongoing modernization of airport infrastructure and the construction of new airports.

Asia Pacific will be the fastest-growing segment owing to rising passenger and cargo traffic and rising government investments in infrastructural development. With perpetual growth in air passenger and cargo traffic in China and India, the need for smart baggage handling systems has increased in these countries.

Major manufacturers are focusing on strategies such as mergers and acquisitions to increase market share and provide better services. For instance, in August 2019, Daifuku Co., Ltd. acquired Scarabee Aviation Group B.V. and Intersystems (Asia Pacific) Pty Limited. With the acquisition of both companies, Daifuku Co. Ltd. will cater to markets pertaining to information management and airport security checkpoints.

Some of the prominent players operating in the smart baggage handling systems market include Siemens AG, Vanderlande Industries, Daifuku Co. Ltd., Pteris Global Limited, BEUMER Group GmbH & Co. K.G., SITA, G&S Airport Conveyor, and Alstef Automation S.A., among others.

Periods of History and Forecast

This research report presents the analysis of each segment from 2017 to 2027, considering 2018as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The smart baggage handling system market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global smart baggage handling system market based on transportation type, solution, technology type, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the size of the smart baggage handling systems market in 2018, and what is the forecast through 2027?
  • Which is the largest regional market for smart baggage handling systems?
  • What are the major trends followed in the overall smart baggage handling systems market across different regions?
  • What are the key high-growth opportunities observed in the smart baggage handling systems market?
  • What are the drivers of the smart baggage handling systems market?
  • Which are the leading smart baggage handling system manufacturers worldwide?
  • What are the key strategies adopted by the leading smart baggage handling system manufacturers?

This report's distinct data points

  • Statistics on baggage handling systems worldwide
  • Recent trends across different regions in terms of the adoption of smart baggage handling systems
  • Notable ongoing developments in the smart baggage handling system industry
  • Attractive investment propositions for different segments of the smart baggage handling system market
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently Asked Question:

The market for Smart Baggage Handling System Market is expected to reach USD$ 1.20 Bn in 2027.

The Smart Baggage Handling Systemt Market is expected to see significant CAGR growth over the coming years, at 13.6%.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

Vanderlande Industries, Daifuku Co. Ltd., Pteris Global Limited, BEUMER Group GmbH & Co. K.G. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Sep 2019
Category:  Technology & Media
Report ID:   59918
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
Delivery Time: 24 Hours to 48 Hours   
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