In a competitive global smart baggage handling system market, keen players are hard-focused on collaborations to expand their outreach and to accelerate their pace of gains. In matters of competition, the global smart baggage handling system market is expected to witness the entry of small-sized players that will further intensify competition in this market.
Some of the key growth drivers of the global smart baggage handling system market are a modernization of existing airports, growth in the number of airports and air travelers, and adoption of systems with improved accuracy for baggage handling and baggage tracking.
In emerging economies, construction of new airports that are equipped with state-of-the-art technology is benefiting the smart baggage handling system market. The installation of these systems enable easy tracking and handling a large volume of baggage which is critical to the growing air traffic in these regions.
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As per estimates of a report by Transparency Market Research, the global smart baggage handling system market will clock an impressive 19.3% CAGR from 2017 to 2025. If the figure holds true, the market’s valuation of US$1,508.6 mn in 2106 will become US$7,210.8 mn by the end of 2025.
Radio Frequency Identification Scanning Technology Preferred due Virtues of Reliability
The report studies the global smart baggage handling system market on the basis of mode of transportation, technology, solution, and region. In terms of airport, the market is segmented into airport and railway station. The segments of the global smart baggage handling system market based on technology are radio frequency identification system (RFID) and barcode system. Of the two, in 2016, radio frequency identification led the market vis-à-vis revenue. This is because RFID allows the system to scan the baggage tags with negligible probability of issues that help generate a good chunk of revenue.
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On the basis of mode of transportation, the global smart baggage handling system market is divided into airport and railway station. The segment of airport is further sub-segmented into international and domestic. The international airport segment is expected to represent a sizeable share of the overall market over the forecast period.
The segments of the market depending upon solution are sorting, conveying, tracking and tracing, diverting, and others.
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