Aviation Analytics Market Expected to Garner $7,396 Million : Latest Report with Top Key Players such as Oracle Corporation, IBM Corporation, SAS Institute Inc., SAP SE, General Electric, Ramco Systems, Mu Sigma, Mercator, Aviation Analytics Ltd, and Booz

The growth in competition has necessitated the emergence of aviation analytics to satisfy growth in needs of customers. Further, increase in adoption rate of analytics solutions and continuous technological advancements in the aviation industry provides the marketers with immense scope to target their customers and enhance the user experience.

According to a recent report published by Allied Market Research, titled, Aviation Analytics Market by End User, Application, Business Function, and Component: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global aviation analytics market was valued at $2,377 million in 2016, and is projected to reach at $7,396 million by 2023, growing at a CAGR of 17.8% from 2017 to 2023. In 2016, the sales & marketing segment accounted for the highest revenue share in the aviation analytics market.

Sales & marketing and finance segments jointly accounted for about 55.73% of the global aviation analytics market in 2016, with the former constituting around 31.40% share.

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Continuous growth in the volume of data generated in aviation industry, increase in aviation passenger traffic, and growth in customers centricity drive the growth of the market. However, factors such as incapability to provide data models according to the need of businesses and lack of skilled personnel hamper the aviation analytics market growth to a certain extent.
North America dominated the global market in 2016, and is expected to remain dominant during the forecast period, owing to the increase in demand for real time analytical solution from the aviation industry. Furthermore, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

The global aviation analytics market was led by the customer analytics segment in 2016, and the segment is projected to maintain its dominance during the forecast period. However, the navigation services segment is expected to witness the highest growth, owing to the growth in adoption of analytical solutions by key players of the market.

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The service segment generated the highest revenue in 2016. Further, software segment is anticipated to witness the fastest growth rate during the forecast period.In 2016, the global market was dominated by the sales & marketing segment, and is expected to continue this trend during the forecast period. However, the finance segment is expected to witness the highest growth, owing to increase in adoption of analytical solutions to minimize revenue leakage in the industry.

Aviation analytics is a computational technology, which provides information or statistics of historical airport operational data, historical flight data, weather forecast, and real-time flight data to the end users. The rise in focus on competitive intelligence and real time analytical solutions is attributable to the increase in aviation analytics budgets in organizations. Moreover, the aviation analytics solutions also play a prominent role owing to its benefits including minimization of revenue leakage, increase in profits, and efficient and effective financial processes, which allow airlines to perform up to ten times better on key performance indicators.

Asia-Pacific is expected to grow at a significant pace during the forecast period. Airlines segment led the market in 2016 and is expected to continue to do so in the near future. Furthermore, the customer analytics dominated the overall market and deploy the aviation analytics on a larger scale.

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Rise in focus on competitive intelligence and real time analytical solutions mainly to increase the productivity of business drive the aviation analytics market. However, factors such as incapability to provide data models according to the need of businesses hamper the aviation analytics market growth to a certain extent.

The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porters Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

Some of the key players operating in the aviation analytics market that are profiled in the report include Oracle Corporation, IBM Corporation, SAS Institute Inc., SAP SE, General Electric, Ramco Systems, Mu Sigma, Mercator, Aviation Analytics Ltd, and Booz Allen Hamilton Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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