Intense competition exists among the well-established players within the global smart baggage handling system market, as all of these players are constantly innovating their product offerings so as to attract more customers, states Transparency Market Research (TMR) in its latest research report on this market. Tremendous potential of growth opportunity lies within the smart baggage handling system market as this market is huge. This also implies that many new players will be attracted towards joining this market and therefore the threat of new entrants is high. Not only will this result in cut throat competition among players within the market but also it will ultimately result in product innovation as this becomes the key strategy for business growth of each of the manufacturers. Names of the key players operating within this market are SITA, Beumer Group, Vanderlande Industries, Alstef Automation S.A., Fives Group, G&S Airport Conveyor, Pteris Global Limited, Scarabee Systems & Technology B.V, and Daifuku Web Seimens Group.
Aspartame are, the global smart baggage handling system market will exhibit a whopping 19.30% CAGR between 2016 and 2025 and will rise up to US$7,210.8 mn by 2025. On the basis of geography, North America is predicted to Showcase a substantial growth of 20.5% cagr between 2016 and 2025 on a ground of the development of new airports across the region. In terms of Technology, it is expected that the radio frequency identification system (RFID) will exhibit promising growth in the years to come. By transportation, it is anticipated that the International Airport segment will hold key shares within the market.
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Travellers Increasingly Seek Facilities Offering Better Transit and Safe Conveying of Baggage
According to the lead author of this report, “the tremendous increase in traveling of late due to factors such as cross country business, globalization, trips, immigration, and emigration is anticipated to bolster the growth of the global smart baggage handling system market.” There is a growing need for better baggage handling systems at airports and railways as travellers are seeking better Transit facilities and expecting their baggage to be safely conveyed. This is compelling airport authorities as well as Railway operators to implement improved baggage handling systems for travellers.
Increasing Concerns over Smuggling of Prohibited Goods to Drive Demand for Smart Baggage Handling Systems
As relying on high-end systems for sorting baggage can give a boost to the efficiency of handling baggage at airports while reducing manual work, smart baggage handling systems are increasingly being the preferred. With growing concerns such as smuggling of illegal items or transit of items that are not permitted through flights and train are also resulting in a higher demand for smart baggage handling systems. Apart from all these factors, the growth in the infrastructural developments resulting in developments of better railway stations and airports worldwide will accelerate the growth of the global smart baggage handling systems market.