Press release
Streamlining Travel: The Evolution of Baggage Handling Systems
According to The Business Research Company's, 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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Market Drivers and Trends:
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.
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.
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Major Key Players of the Market:
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
Baggage Handling System Market 2024 Key Insights:
• The baggage handling system market size is expected to grow to$14.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Growth In Tourism Industry Boosting Baggage Handling System Market
• Innovative Technologies In Baggage Handling Systems
• Asia-Pacific was the largest region in the baggage handling system market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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