Aviation analytics industry to grow at 11.72% CAGR by 2030; APAC region to value at 14.77% CAGR
WILMINGTON, DELAWARE, UNITED STATES, September 5, 2023/EINPresswire.com/ — North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global aviation analytics Industry share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, precise, and efficient aviation analytics. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of aviation analytics across several Asian nations, for instance, China, India, Japan, and South Korea.
According to a recent report published by Allied Market Research, titled, “Aviation Analytics Market by Component, End User, Business Function, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030” the global aviation analytics industry was valued at $2.78 billion in 2020, and is projected to reach $8.21 billion by 2030, registering a CAGR of 11.72%.
Factors such as growth in disposal income of the middle-class population and the emergence of low-cost airlines have led to an increase in number of airline passengers. With surge in number of airline passengers, demand for aviation analytics services has increased at a significant rate. Major countries such as Canada, U.S., Brazil, Indonesia, Philippines, China, Saudi Arabia, and India witnessed rise in number of air passengers.
𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭- https://www.alliedmarketresearch.com/aviation-analytics-market/purchase-options
By component, the aviation analytics market is segregated into service and software. The service segment accounted for the highest revenue in 2020, owing to high demand for aviation analytics services that are being deployed for numerous applications across the aviation sector.
By end-user, the aviation analytics market is segregated into airline, airport, and others. The airlines segment accounted for the highest revenue in 2020, owing to high demand for aviation analytics that are being used by airlines for numerous commercial applications throughout the world.
On the basis of business function, the market is segmented into sales & marketing, finance, maintenance, repair & operations, and supply chain. The sales & marketing segment garnered the highest revenue in 2020, owing to high demand for aviation analytics for sales & marketing operations globally.
On the basis of application, the market is segmented into flight risk management, inventory management, fuel management, revenue management, customer analytics, and navigation services. The customer analytics segment garnered the highest revenue in 2020, owing to high demand for aviation analytics drones for catering customer requirements.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/3684
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
– By component, the software segment is expected to register a significant growth during the forecast period.
– On the basis of end user, the airports segment is anticipated to exhibit significant growth in future.
– On the basis of business function, the finance segment is anticipated to exhibit significant growth in future.
– Depending on application, the flight risk management segment is anticipated to exhibit significant growth in future.
– Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The Top key players that operate in the global aviation analytics market include Accelya, General Electric Company, International Business Machines Corporation (IBM), IGT Solutions Pvt. Ltd., Mu Sigma, OAG Aviation Worldwide Ltd., Oracle, Ramco System, SAP SE, and SAS Institute Inc.
Allied Analytics LLP
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