Global Airport Radio Frequency Identification Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Airport Radio Frequency Identification Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global airport radio frequency identification market report has been segmented on the basis of product type, application, and region.
Global Airport Radio Frequency Identification Market: Overview
Airport’s use radio frequency identification technology for applications such as flyable parts tracking, baggage tracking, inventory management, and many other applications; as the radio frequency identification tags offer feature of tracking and tracing, thereby reducing the incidences of misplacement and theft of baggage or luggage at airports.
Global Airport Radio Frequency Identification Market: Dynamics
Airports across the globe face biggest challenge of baggage handling. Increasing number of travelers coupled with growing baggage’s safety, stringent baggage security regulations, high waiting time, and shorter turnarounds have significantly resulted into baggage processing and reconciliation systems in the recent years. Airports are recognizing need for fully-integrated and scalable baggage management system that offer flexibility, reliability, and efficient time management solutions in existing or arrival platforms. Aforementioned are major factors expected to drive growth of the global market during the forecast period.
Moreover, increasing demand to adopt radio frequency identification technology that enables advanced bag tracking and tracing operations in crowed airports, owing to radio frequency identification technology benefits such as reduced handling turnover, achieves optimal efficiency, fast bag tag read rates with reduced reading errors, rapid bag redirecting and off-loading, worldwide tracing of misplaced luggage, prevents theft and tampering of baggage, high product durability, and optimized supply chain management operations. This in turn attributes into high adoption of radio frequency identification technology and systems in airports across the globe and is expected to proliferate growth of the global market in the near future.
Furthermore, increasing government investments to digitalize and ease public and international transport systems, increasing awareness regarding IoT based radio frequency identification baggage labeling that enhance baggage visibility from check-in to baggage reclaim, and handling at airports
are among major factors expected to create significant revenue opportunities for players in the target market in the coming 10 years.
However, the high-cost associated with installation of radio frequency identification systems is hampering the growth of the airport radio frequency identification market growth to a certain extent.
Global Airport Radio Frequency Identification Market: Segment Analysis
In the product type segmentation, the product segment is expected to dominate the global market over the forecast period. Among the product segment the sub–segment tag is expected to register high revenue growth in the target market, owing to increasing demand for efficient baggage handling systems at airport by using radio frequency identification tags or labelling due to their size and cost efficiency benefit coupled with high durability and long lifespan.
Global Airport Radio Frequency Identification Market: Regional Analysis
Market in North America market is expected to dominate in the global market in terms of revenue share, owing to highly developed airport facilities coupled with high emphasizes on ease of passengers, and increasing adoption of emergence of technologies such as IoT to achieve high optimization in inventory management operation in the developed countries such as US and Canada in this region.
Market in Asia Pacific is expected to register significant revenue growth over the forecast period in the global market followed by market in Europe. Whereas, market in Latin America and Middle East & Africa is expected to register lucrative growth in the target market, owing to rising industrialization in these regions.
Global Airport Radio Frequency Identification Market Segmentation:
Segmentation by Product Type:
Segmentation by Application:
- Baggage Tracking
- Flyable Parts Tracking
- Inventory Management
- Others (Animal Tracking, Logistics, Supply Chain Management, Security and Access Control, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BCS Group
- GlobeRanger (US)
- Beumer Group
- Siemens AG
- RFID Global Solution, Inc.
- Rockwell Collins Inc.
- Grenzebach Group
- Honeywell International Inc.
- Daifuku Company Ltd
- Confidex Ltd
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