Technavio, a tech-focused market research firm, has published a new report on the global aviation IoT market, which is expected to grow at a CAGR of more than 19% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global aviation IoT market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global aviation IoT market are elaborated below:
Aviation IoT market in the Americas: The increasing demand for advanced technologies like in-flight connectivity and connected electronic flight bag devices, which require advanced data capture framework, are anticipated to propel the deployment of IoT-based infrastructure in the Americas during the forecast period.
According to Avimanyu Basu, a lead analyst at Technavio, specializing in research on aerospace, “Airline operators and airports authorities making large investments in enhancing passenger experiences during baggage and security screening. In 2016, American Airlines spent around USD 21 million for alleviating congestion at various airports in the US. Such developments are projected to favor market growth.”
Aviation IoT market in EMEA: The market for aviation IoT in EMEA is driven primarily by the rise in passenger traffic in this region. Spurred by the passengers’ preference to remain connected, airlines are investing heavily in superior in-flight connectivity networks. The increasing focus on reducing fuel consumption and enhancing aircraft efficiencies is also anticipated to reflect positively on the market’s growth.
Aviation IoT market in APAC: APAC is projected to be the fastest growing geographical segment of the global aviation IoT market between 2017 and 2021. Factors such as rising investments in newer-generation of aircraft procurement, along with the construction of several new airports, are expected to fuel the growth of the aviation market in APAC in the coming years.
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The top vendors operating in the global aviation IoT market are:
- Cisco Systems
- IBM
- Microsoft
- Wind River
Other prominent vendors in the market include Accenture, Apple, Living PlanIT, and SITAONAIR.
A more detailed analysis is available in the Technavio report titled, ‘Global Aviation IoT Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Airport Automated Security Screening Market 2017-2021
- Global Airport Runway Safety System Market 2017-2021
- Global Aerobridge Market 2017-2021
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