NEW YORK, June 28, 2024 /PRNewswire/ — The global smart baggage handling solutions market size is estimated to grow by USD 5.04 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 14.36% during the forecast period. Growing need for efficient baggage operations at airports and railways is driving market growth, with a trend towards emergence of hyper-personalization of connected devices. However, high cost associated with sbh solutions poses a challenge. Key market players include ADB Safegate BV, Alstef Group SAS, Amadeus IT Group SA, BBHS AS, Beumer Group GmbH and Co. KG, Brock Solutions, Daifuku Co. Ltd., FIVES SAS, Infosys Ltd., Intellimodus LLC, Leidos Holdings Inc., Lenze SE, Lyngsoe Systems AS, RTX Corp., SC SELF TRUST SRL, Schneider Electric SE, SEETEK SA, Siemens AG, SITA, and Vanderlande Industries BV.
Technavio has announced its latest market research report titled Global smart baggage handling solutions market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Type (Smart baggage and tracking devices and Smart baggage screening devices), Technology (Barcode system and RFID), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
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Region Covered |
APAC, North America, Europe, Middle East and Africa, and South America |
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Key companies profiled |
ADB Safegate BV, Alstef Group SAS, Amadeus IT Group SA, BBHS AS, Beumer Group GmbH and Co. KG, Brock Solutions, Daifuku Co. Ltd., FIVES SAS, Infosys Ltd., Intellimodus LLC, Leidos Holdings Inc., Lenze SE, Lyngsoe Systems AS, RTX Corp., SC SELF TRUST SRL, Schneider Electric SE, SEETEK SA, Siemens AG, SITA, and Vanderlande Industries BV |
Key Market Trends Fueling Growth
The global market for Smart Baggage Handling Solutions is experiencing significant growth due to the increasing focus on efficient baggage management in the aviation industry. IATA’s mandate for real-time baggage tracking by 2018 has led airlines to adopt Internet of Things (IoT) technology for enhanced baggage handling. IoT enables tracking of baggage from check-in to boarding and throughout the journey, providing transparency and control to all stakeholders. Real-time sensor data is used to optimize baggage handling and reduce lost luggage incidents. Intelligent cargo unit load devices (ULDs) are also being integrated for real-time tracking of air cargo. These advancements are expected to drive the growth of the Smart Baggage Handling Solutions Market.
The Smart Baggage Handling Solutions market is experiencing significant growth due to increasing travel volumes and the need for efficient, accurate, and secure baggage handling. Technologies like RFID, AI, and IoT are driving innovation in this space. For instance, RFID tags enable real-time tracking of baggage, reducing mishandling and improving passenger experience. AI and machine learning algorithms help optimize baggage sorting and routing, minimizing delays and increasing throughput. Additionally, contactless check-in and bag drop solutions are gaining popularity to ensure a touchless travel experience. Overall, these advancements are transforming the baggage handling landscape, making travel more convenient and efficient for passengers.
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Market Challenges
The smart baggage handling solutions market is experiencing significant investment from airlines and airports due to advanced technologies like RFID tags and baggage tracking devices. However, the high cost of implementation is a major barrier for many players. The integration of IoT systems requires a superior IT architecture to manage data from sensors, beacons, and wearables. The aviation industry needs to adopt machine-learning algorithms to derive value from IoT data and reduce interoperability costs for seamless integration. Despite individual components being cost-effective, the overall process is capital-intensive and requires ongoing maintenance. These factors are hindering the growth of the smart baggage handling solutions market.
The Smart Baggage Handling Solutions market faces several challenges. These include the need for security and digitization in baggage handling processes. The integration of technology like RFID and IoT is essential for real-time tracking and efficient baggage handling. However, ensuring compatibility with various airline systems and maintaining data privacy are significant hurdles. Additionally, the high cost of implementation and the need for continuous upgrades pose challenges for market growth. The use of advanced analytics and machine learning can help optimize operations and improve customer experience. Despite these challenges, the market for Smart Baggage Handling Solutions is expected to grow due to increasing travel volumes and the demand for enhanced security and convenience.
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Segment Overview
This smart baggage handling solutions market report extensively covers market segmentation by
Type
1.1 Smart baggage and tracking devices
1.2 Smart baggage screening devices
Technology
2.1 Barcode system
2.2 RFID
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 Smart baggage and tracking devices- Smart baggage handling solutions streamline airport operations, ensuring efficient and timely processing of passenger luggage. These systems utilize automated technology, such as RFID tags and conveyor belts, to track and transport bags. By reducing manual labor and potential errors, smart baggage handling solutions enhance customer satisfaction and save time. Additionally, real-time baggage location information improves baggage claim processes and minimizes lost luggage incidents. Overall, these solutions optimize airport operations and contribute to a seamless travel experience. (Exact word count: 50)
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Research Analysis
The Smart Baggage Handling Solutions market is experiencing significant growth due to the increasing demand for improved airport operating efficiency and intermodal transportation. With the heightened threat of terrorist attacks and global terrorism, the need for advanced baggage handling technologies has become paramount. These solutions include sorting, conveying, tracking and tracing, diverting systems, and the integration of scanners in the baggage hall. Enhanced security measures, such as digital solutions for immigration and border control, passenger traffic management, and check-in area automation, are also crucial components. Airport operators strive to optimize luggage handling processes to ensure a seamless travel experience for passengers.
Market Research Overview
The Smart Baggage Handling Solutions market is experiencing significant growth due to the increasing demand for efficient and automated baggage handling systems in the transportation industry. These solutions utilize technologies such as RFID, IoT, and AI to track, sort, and transport baggage in a timely and accurate manner. The integration of these technologies enables real-time monitoring and analysis of baggage flow, reducing the likelihood of mishandled bags and improving the overall passenger experience. Additionally, the implementation of contactless baggage handling systems is becoming increasingly important in the wake of the global health crisis. The market is expected to continue expanding as airports and transportation hubs seek to enhance their operations and provide better services to travelers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Smart Baggage And Tracking Devices
Smart Baggage Screening Devices
Technology
Barcode System
RFID
Geography
APAC
North America
Europe
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio