IoT in Aviation Market Outlook and Industry Forecast to 2025 - PowerPoint PPT Presentation

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IoT in Aviation Market Outlook and Industry Forecast to 2025

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Global IoT in aviation market is projected to grow from USD 593 million in 2019 to USD 1,941 million by 2025, at a CAGR of 21.9% during the forecast period. – PowerPoint PPT presentation

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Title: IoT in Aviation Market Outlook and Industry Forecast to 2025


1
According to the new market research report 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 forecast
the period. in
Advancements wireless technologies efficiency
connectivity, improved
network increased and and
passenger
experience are some of the major factors
driving the market. 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. Download PDF Brochure _at_ https//www.marke
tsandmarkets.com/pdfdownloadNew.asp?id236860705 B
y end market, the airlines segment is expected to
be a larger contributor to the IoT in aviation
market during the forecast period. The adoption
of IoT technology by airlines reduces some of the
most common complaints in the industry, such as
lost bags, flight delays, and customer service
issues. For example, Virgin Atlantic started
using IoT in its fleet of Boeing 787 planes and
cargo equipment connected via IoT devices. These
projects resulted in a reduction in delays by
20 as well as a reduction of 2 hours from daily
working hours. 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 be the largest market for
IoT in aviation 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
2
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
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id236860705 About MarketsandMarkets Mar
ketsandMarkets 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
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approach MarketsandMarkets for their painpoints
around revenues decisions. MarketsandMarketss
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
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