Airline Iot Market Is Estimated To Register A CAGR Of More Than 15% During The Forecast Period Of 2018 To 2023.
The global airline IoT market has been segmented based on application, component, and region.
Based on application, the airline IoT market is divided into fleet management, passenger experience enhancement, and other processes. The fleet management segment is further segmented as engine performance optimization, predictive maintenance & vehicle diagnostics, and fuel management & energy savings, whereas, the passenger experience enhancement segment is further segmented as in-flight entertainment and connectivity solutions, hyper personalization, and track & trace.
The fleet management segment accounted for the largest market size while the passenger experience enhancement segment is expected to witness the highest CAGR during the forecast period. IoT can help enhance passenger experience in numerous ways. For example, passengers can be provided VR headsets for a unique entertainment experience. Data on passenger preferences can be collected and analyzed to gain useful insights to personalize offerings for upcoming trips.
Based on component, the airline IoT market is divided into IT services, software, data center systems, communication services and devices. The IT services segment accounted for the largest market share while the software segment is expected to witness the highest CAGR during the forecast period. Various software is used by the airline. For instance, aviation maintenance software is used to perform routine checks on or modifications to work orders at predefined intervals and set schedules. It is also used for non-routine work orders for unplanned repairs discovered when the aircraft is on ground. The positioning and parking assistance software provides feedback to the pilots to estimate standoff, marking lines, and taxi lines, allowing them to remain clear of obstructions.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increasing demand for commercial aircraft and rise in number of airlines in countries such as China, and India.
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The key players in the global airline IoT market are Amadeus IT Group SA (Spain), SAP SE (Germany), Cisco Systems, Inc. (US), Huawei Technologies Co., Ltd (China), SITA (Switzerland), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Siemens AG (Germany), and Sabre Corporation (US).