Published Date: 3-Feb-2021
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According to a new report Global Baggage Handling System Market, published by KBV research, The Global Baggage Handling System Market size is expected to reach $10.9 billion by 2026, rising at a market growth of 7.9% CAGR during the forecast period.
Barcode technology is estimated to observe the highest market share due to its usage by the major airline companies around the world. Barcodes are inexpensive and can be used easily. Although, some airports have the potential of handling both RFID-tagged baggage and barcode, which is termed as a hybrid solution. The hybrid solution provides more read rate than utilizing the technologies individually. The application of RFID with a hybrid solution is a step towards the complete implementation of RFID.
The airport group is the main contributor in the market, which results in the sudden increment in the air passenger traffic all over the world. Furthermore, major airports are implemented with technologically advanced baggage handling system that helps in making traveling less hectic. This equipment transports the baggage in and out in the check-in and checkout processes. The implementation of baggage handler mechanisms is estimated to observe a substantial growth, due to the usage of conveyor belts for handling passenger baggage at the time of entering the railway station. Marine is estimated to record a potential growth owing to the increasing cruise business. The usage of this equipment assists to lower down the heavy lifting by workers, hence rising the efficiency of operational processes.
Asia-Pacific holds the best position to guide the baggage handling system market share. This is due to the increasing air passenger traffic, upcoming airport renovation projects, and an increase in cruise travelers. Furthermore, the investments in railway transportation and the economic growth of countries have boosted the demand for these systems. North America is estimated to record a strong growth rate due to the various airport development plans around the U.S. and Canada. Many government authorities have taken initiatives to invest in luggage handler equipment as North America topped the world in baggage mishandling cases. To minimize baggage mishandling cases, companies are installing heavy capacity baggage handling systems.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Toyota Industries Corporation (Vanderlande Industries), Daifuku Co., Limited, Sick AG, Smiths Group PLC, BEUMER Group GmbH & Co. KG, Fives Group, Cage, Inc. (Ross & Baruzzini, Inc.), Grenzebach Group and G&S Airport Conveyor.
By Mode of Transport
By Tracking Technology
By Check-in Service Type
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