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.
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.
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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.
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