Global Airport Baggage Handling Software market set to grow to USD 2.9 billion by 2033 with IoT and AI technologies

From GlobeNewswire: 2024-06-18 22:00:00

The Global Airport Baggage Handling Software Market is set to grow from USD 1.7 billion in 2023 to USD 2.9 billion by 2033, with a CAGR of 5.49%. Key players are using IoT, AI, and machine learning to provide smart baggage handling solutions for real-time tracking and automated sorting, driven by rising air travel and airport infrastructure expansion. North America is expected to dominate the market, while Asia Pacific experiences the fastest growth.

The baggage tracking segment holds the largest market share as passenger satisfaction and operational efficiency drive advanced tracking technology adoption, reducing mishandled luggage instances. The software segment dominates the market, driven by IoT and AI technologies offering real-time tracking and predictive analytics. North America leads the market, and Asia Pacific sees rapid growth with increasing passenger traffic.

Competitive analysis of key vendors like Beumer Group and Siemens AG in the Global Airport Baggage Handling Software Market includes product offering, SWOT analysis, and market share evaluation. Recent developments include SITA’s collaboration with Alstef Group in 2022. Market segmentation forecasts revenue at global, regional, and country levels from 2023 to 2033, examining functions like baggage control, tracking, sortation, and screening.

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