The Smart Baggage Handling System Market revenues were estimated at US$ 3.8 Bn in 2021 and is anticipated to grow at a CAGR of 19.9% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 27.9 Bn.
Small airports’ baggage handling is simple, but it becomes considerably more intricate in remote airport locations and can result in skyrocketing prices and poor service. The increase in passengers passing through the air terminal intensified the level of luggage, which is the reason why the sky terminal has implemented automated solutions to handle luggage more quickly.
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The present baggage handling system, which airports and airlines operate, relieves ground personnel of their duties. This system quickens the baggage process to provide passengers with greater satisfaction. It has organized baggage displays and speedy sorting, tracking, and inferring systems that aid in the prevention of potential safety hazards.
The overall objective of the smart baggage-handling system is to make the whole operation more cost-effective. Automation makes a big contribution to quicker turnaround times. Mechanisms ensure that the baggage of the appropriate passenger goes to the required airplane with the right cargo.
Key Takeaways from the Market Study
● Global Smart Baggage Handling System Market is expected to reach a market size of US$ 3.8 Bn by 2022.
● In terms of Technology, the Radio Frequency Identification (RFID) segment is expected to have the highest CAGR rate of 21.8% during the forecast period.
● In terms of Solution, Conveying is expected to account for the highest CAGR of 20.5% during the forecast period.
● United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 9.7 Bn during 2022 – 2032.
● The market in U.S is set to experience the highest CAGR of 21.7% during the 2022-2032 forecast period.
“During the projected period, the rise of Radio Frequency Identification (RFID) technology can become a key driver in raising the Smart Baggage Handling System market revenue. Furthermore, increased venture capital investments by key corporations will benefit the Smart Baggage Handling System industry trends in the coming years.” comments a Future Market Insights analyst.
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Competitive Landscape
The Smart Baggage Handling System Market is highly concentrated, with only a few competitors accounting for the vast majority of market share. These companies are raising their profits as well as market shares through smart joint projects. Some development in this Smart Baggage Handling System Market include:
· In January 2020, Siemens Logistics’ bid to implement a newer hold baggage screening systems at Dublin Airport’s Terminal 2 was successful. The contract calls for the replacement of the current HBS as well as the installation of an extra line to improve capacity even more. This project presents a unique difficulty in that it must be completed without interfering with routine flight operations or passenger operations.
· In April 2020, Vanderlande has been named Heathrow Airport’s strategic baggage supplier for another ten years. The newly inked ‘pan-airport’ agreement will include the Terminals’ operation, design, build and maintenance programs, as well as smart baggage control room services. Both organizations will collaborate to further create an integrated strategy that will expand on their existing connection.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Baggage Handling System Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
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Market Segments Covered in Smart Baggage Handling System Market Analysis
By Type of Transportation:
- Airport
- International
- Domestic
- Railway Station
By Technology:
- Barcode System
- Radio Frequency Identification (RFID)
By Solution:
- Sorting Smart Baggage Handling Systems
- Conveying Smart Baggage Handling Systems
- Tracking and Tracing Smart Baggage Handling Systems
- Diverting Smart Baggage Handling Systems
- Other Smart Baggage Handling Systems
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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