IoT in Aviation Market Statistics, Opportunities and Forecast to 2025

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According to the new research report "IoT in
Aviation Market by End Market (Airports,
Airlines, MROs, Manufacturers), Application
(Ground Operations, Passenger Experience, Asset
Management, Air Traffic Management),
Component, Region - Global Forecast to to
2025", is expected
reach USD 1,941 million by 2025 from USD 593
million in 2019, at a CAGR of 21.9 from 2019
to 2025. Advancements in wireless network
technologies increased efficiency and
connectivity, and improved passenger experience
are some of the major factors driving the
market. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id236860705 By
end market, the airports segment is projected to
grow at a higher CAGR during the forecast
period. 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. 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 lead the
IoT in aviation market during the forecast
period. Countries such as the US and Canada are
considered under this regional market analysis.
The US is expected to lead the IoT in aviation
market in North America 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 fleet size of airlines, airports are
required to make data-driven decisions by
leveraging new technologies such as IoT, AI, and
Blockchain.
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Key Market Players 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). Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id236860705 About MarketsandMarkets Mar
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