The baggage handling system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Baggage Handling System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The baggage handling system market size has grown strongly in recent years. It will grow from $9.56 billion in 2023 to $10.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing air passenger traffic, rising demand for seamless travel experiences, increasing investments by airport authorities, demand for flexible and scalable baggage handling solutions, increasing investments in airport expansion projects.
The baggage handling system market size is expected to see strong growth in the next few years. It will grow to $14.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing air passenger traffic, rising demand for real time tracking, growing adoption of RFID technology, growing e-commerce and cargo volumes, and demand for cloud-based solutions. Major trends in the forecast period include advancements in automated sorting and loading systems, the implementation of AI and machine learning, integration of IoT devices for real time monitoring, adoption of cloud-based platforms for data storage and analysis, implementation of biometric scanning.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Baggage Handling System Market Overview
Market Drivers –
The expansion of the tourism industry is expected to propel the growth of the baggage handling system market going forward. The tourism industry encompasses businesses and services that cater to travelers and tourists, including transportation, accommodations, attractions, and hospitality. The expansion of the tourism industry is fueled by enhanced infrastructure, economic growth, rising disposable incomes, globalization, and more accessible travel information. Baggage handling systems support tourism by efficiently and systematically managing luggage, ensuring a smooth travel experience for tourists, and improving satisfaction and operational effectiveness for travel service providers. For instance, in 2023, according to the Croatian Bureau of Statistics, a Croatia-based government agency, commercial accommodation establishments saw 17.8 million tourist arrivals and 90.0 million overnight stays in 2022, an increase of 39.1% and 28.3% compared to 2021, respectively. Therefore, expanding the tourism industry is driving the baggage handling system market.
Market Trends –
Major companies operating in the baggage handling system market are developing innovative technologies, such as advanced automation solutions, to improve the speed and accuracy of baggage handling. Advanced automation solutions in baggage handling systems enhance efficiency, accuracy, and capacity, improve security, reduce labor costs, and enhance the overall passenger experience. For instance, in July 2022, Beumer Group GmbH & Co. KG, a Germany-based company, launched Next-Gen Line Sorter and Pouch Systems, advanced automation solutions. The BG Line Sorter combines the simplicity of a traditional line sorter with the handling capabilities of a high-speed cross-belt sorter. Its modular design optimizes distribution center space, while highly durable belts ensure ultra-low maintenance. The BG Pouch System is a single multi-purpose sortation system that can buffer, sort, sequence, and handle item returns with minimal manual touchpoints.
The baggage handling system market covered in this report is segmented –
1) By Type: Destination Coded Vehicle (DCV), Conveyor
2) By Technology: Radio-Frequency Identification (RFID), Barcode
3) By Mode: Airport, Railway, Marine
4) By Application: Check-In Systems, Security Screening Systems, Sorting Systems, Transfer Systems, Arrival And Reclaim Systems
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Regional Insights –
Asia-Pacific was the largest region in the baggage handling system market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the baggage handling system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the baggage handling system market are Siemens AG, Babcock International Group PLC, Daifuku Co. Ltd., Vanderlande Industries B.V., Fives Group, SICK AG, BEUMER Group, SITA, INFORM SOFTWARE, Interroll Group, Smiths Detection Group Limited, Grenzebach Maschinenbau GmbH, Pteris Global Limited, Alstef Group, Cassioli Srl, ULMA Handling Systems, G&S Airport Conveyor, Logplan LLC, Ansir Systems, Matrex, Kinematik SA Machinery Manufacturing
Table of Contents
1. Executive Summary
2. Baggage Handling System Market Characteristics
3. Baggage Handling System Market Trends And Strategies
4. Baggage Handling System Market – Macro Economic Scenario
5. Global Baggage Handling System Market Size and Growth
…..
32. Global Baggage Handling System Market Competitive Benchmarking
33. Global Baggage Handling System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Baggage Handling System Market
35. Baggage Handling System Market Future Outlook and Potential Analysis
36. Appendix
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