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.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
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)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
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.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
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.
For more insights on driver and
challenges - Download a Sample Report
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)
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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
-
- 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio