DUBLIN--(BUSINESS WIRE)--The "Baggage Handling System Market by Mode, Solution, Check-In, Conveying, Tracking and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global baggage handling system market is projected to grow to USD 13.7 billion by 2025 from USD 8.4 billion in 2018, at a CAGR of 7.28%.
Improvement in the current infrastructure of airports and establishment of new airports would accelerate the growth of the baggage handling system market. The higher cost of maintaining advanced baggage handling systems is restraining the growth of the baggage handling system market.
The baggage handling system market is dominated by global players and comprises several regional players as well. The key players in the high voltage battery market are Siemens (Germany), Vanderlande Industries (Netherlands), Daifuku (Japan), Pteris Global Limited (Singapore), Fives (France), and SITA (Switzerland).
The study includes an in-depth competitive analysis of these key players in the baggage handling system market with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
"Self-service to be the fastest growing baggage handling system market, by check-in service type"
Self-service check-in is projected to be the fastest growing market in the baggage handling market by 2025. Airports are planning to be more customer-centric in terms of their services. Self-service bag check-in technologies such as kiosks are currently the trending technology at all major airports.
Passenger IT Insights 2019 reports that passengers are more satisfied when they are using self-service check-in technology. For instance, the automated passport control system had risen from 21% in 2017 to 44% in 2018. Hence, self-service check-in is gaining momentum and is the fastest growing service in the baggage handling system market.
"Barcode system to be the largest baggage handling system market, by tracking technology"
Barcode tracking technology is the most widely used technology in baggage handling. Moreover, this system is cost-effective and easy to implement compared to other systems such as RFID. Most airports in developed and developing countries are still using barcode tags and readers because of their low cost and proven efficiency.
As per industry insights, the barcode system is expected to continue dominating the overall market, as the RFID system is still in its initial stage of growth. Hence, Barcode tracking technology is the largest segment and will continue to be the highest contributor to the baggage handling system market.
"Asia Oceania is estimated to be the largest growing market for baggage handling system, by region"
The Asia Oceania baggage handling system market is driven by the dominating airport industries in China and India. In recent years, the region has seen the highest airport and metro infrastructural growth. Strong economic growth, increasing focus on smart cities, development related to old airports, and favorable government policies have triggered the demand for baggage handling systems in the region. Daifuku (Japan) is the leading baggage handling system player in the region. Due to the ever-growing air passenger traffic, China accounts for the highest share in the total Asia Oceania baggage handling system market.
Additionally, with a significant focus of the government on the development of new airports, India is expected to play a key role in the Asia Oceania baggage handling system market. On the other hand, MEA is estimated to be the fastest growing region of the baggage handling system market. The growth of the MEA baggage handling system market is fueled by factors such as increasing government investments in airport infrastructure, rising demand for air travel in neighboring regions such as Asia Oceania and Europe, expansion of trade and tourism, and centrality of the region in the global trade network.
In recent years, the UAE has become a global leader in trade and tourism, which has led to increased air travel to and from this region significantly. The FIFA World Cup in 2022 is scheduled to take place in Qatar, and the country has undertaken several infrastructural development projects to cater to the global audience. Owing to the above-mentioned factors, Asia Oceania is estimated to be the largest and MEA the fastest growing baggage handling system markets.
4.1 Baggage Handling System - Global Market Trends
4.6 Baggage Handling Conveyor System Market, By Type
188.8.131.52 Increasing Usage of Destination Coded Vehicles and Robotics
7 Baggage Handling System Market, By Modes of Transport
7.2.1 The Airport Segment Accounts for 95% of the Total Market
7.3.1 Steady Growth in the Cruise Industry Drives the Growth of Marine Baggage Handling System Market
7.4.1 Growing Metro Projects Have Raised the Demand for Efficient Passenger Luggage Handling Systems
8.2.1 Self-Service Check-In and Advanced Tracking Technologies Accelerate the Market for Check-In, Screening, and Loading (Input) Segment
8.3.1 Sorting is the Heart of the Baggage Handling System
8.4.1 Unloading and Reclaim Contributes 25-30% Share of the Total Market
9 Baggage Handling System Market, By Tracking Technology
9.2.1 Significant Development in Small Airports is Expected to Drive the Barcode System Market Growth
9.3.1 Resolution 753 is Expected to Accelerate the Growth of the RFID System
10 Baggage Handling System Market, By Check-In Service Type
10.2.1 High Number of Non-Frequent Flyers Drives the Assisted Check-In Service Market
10.3.1 Operational Efficiency and Convenience Drives the Growth of the Self-Service Check-In Market
11 Baggage Handling Conveyor System Market, By Type
11.2.1 With the Presence of Small Domestic Airports, Asia Oceania Leads the Conveyor Type Market
11.3.1 Major Airports With High Passenger Volume are Expected to Use DCV