"Growing Travel Industry to Boost Demand for Smart Baggage Handling Systems Worldwide"
In 2018, the global smart baggage handling systems market was valued at US$ 1.20 Bn and is expected to grow at a CAGR of 13.6% during the forecast period from 2019 to 2027. Rising travel & tourism industry and modernization of existing airports & railway stations are driving growth for the smart baggage handling systems market worldwide. To handle 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 smart baggage handling systems market 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.
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"Asia Pacific will be the Fastest Growing Region throughout the Forecast Period"
North America was the largest market for smart baggage handling systems, accounting for more than 1/3rd of the market share in 2018. The dominance is due to the on-going modernization of airport infrastructure and construction of new airports. Asia Pacific will be the fastest growing segment owing to rising passenger & cargo traffic and rising government investments for 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
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Major manufacturers are focusing on strategies such as mergers & 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 markets pertaining to information management and airport security checkpoint. 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. KG, SITA, G&S Airport Conveyor, Alstef Automation S.A., among others.
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Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments 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 global smart baggage handling system market based on transportation type, solution, technology type, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
End-use (2019–2027; US$ Bn)
• Airport
• Railway Station
• Sea Ports
• Others (Bus Stations, Commercial Complexes, etc.)
|
|
Functionality (2019–2027; US$ Bn)
• Sorting
• Conveying
• Tracking and Tracing
• Diverting
|
|
Technology Type (2019–2027; US$ Bn)
• Bar Code
• Radio Frequency Identification (RFID)
|
|
Geography Segment (2019–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of smart baggage handling systems market in 2018 and forecast up to 2027?
- Which is the largest regional market for smart baggage handling systems?
- What are the major trends followed in 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?
Unique data points of this report
- Statistics on baggage handling system worldwide
- Recent trends across different regions in terms of adoption of smart baggage handling system
- Notable on-going developments in the smart baggage handling system industry
- Attractive investment proposition for different segments of smart baggage handling system market
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
