DUBLIN, Jan. 12, 2021 /PRNewswire/ — The «Global Aviation Analytics Market by Component (Services, Solutions) Deployment (On-premise, Cloud), Application, End-user (MROs, Airlines, Airports, OEMs), Business Function, and Region – Forecast to 2025» report has been added to ResearchAndMarkets.com’s offering.
The worldwide aviation analytics market is projected to grow from USD 1.7 billion in 2020 to USD 3 billion by 2025, at a CAGR of 11.5% from 2020 to 2025.
The increasing modernization of aircraft fleet to increase efficiency and reduce aircraft downtime is the key factor that is expected to fuel the growth of the aviation analytics market. However, lack of expertise that restrain the adoption of aviation analytics hurdle the growth of this market.
The aviation analytics market includes major players Oracle Corporation (US), General Electric (US), Lufthansa Technik (Germany), SAP (Germany), and IBM (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East and the Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aviation analytics services by 40-45% globally in 2020.
The mobility & functionality segment of the market is projected to grow at the highest CAGR from 2020 to 2025
Based on application, the mobility & functionality segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for improving passenger experience during air travel.
Based on end-user, the airport segment is projected to lead the aviation analytics market across the forecast period
Based on end-user, the airport segment is projected to lead during the forecast period. Due to the demand for workflow efficiency and growing number of aircraft fleet, the market for aviation analytics is expected to lead during the forecast period.
The North American region is estimated to account for the largest share of the aviation analytics market in 2020
The aviation analytics market in the North American region is expected to witness substantial growth during the forecast period, owing to the high adoption of modernization of aircraft fleet across the region. The airlines and airports in this region are opting for advance analytics tools to optimize the complex business functions through incorporation of modern technologies such as big data, artificial intelligence, etc.
Major players in the aviation analytics market are IBM Corporation (US), IFS (Sweden), Ramco Systems (India), SAP (Germany), Swiss Aviation Software (Switzerland), Lufthansa Technik (Germany), General Electric (US), Oracle Corporation (US), and Honeywell International (US).
Market Dynamics
Drivers
- Advancement in Cloud-Based IT Solutions for Data Collection
- Demand for Optimized Business Operations Through the Application of Structured Analytical Solutions
- Growing Emphasis on Identifying New Market Opportunities by Analyzing Customer Behavior and Preferences
- Reduced Maintenance Costs and Downtime by Employing Predictive Analytics
Restraints
- Lack of Appropriate Analytical Skills
Opportunities
- Cloud-Based Real-Time Data Collection and Analytics
- Incorporation of AI-based Analytics Solutions for Critical Functions in the Aviation Industry
Challenges
- Requirement of Diverse Data Models
- Economic Challenges Faced by the Aviation Industry due to COVID-19
Range/Scenarios
COVID-19 Impact Analysis
Trends/Disruptions Impacting Customers’ Business
- Revenue Shift and New Revenue Pockets for Aviation Analytics Market
Market Ecosystem
- Prominent Companies
- Private and Small Enterprises
- End-users
Average Selling Price of Analytics Solutions
Value Chain Analysis
Porter’s Five Forces Analysis
Technology Analysis
- Sensors
- Cloud Computing
Case Study Analysis
- Aviation Analytics by IBM Corporation
- Analytics Cloud by Oracle Corporation
6 Industry Trends
Technological Advancements in the Aviation Industry
- Internet of Things (IoT)
- Prescriptive Analytics
- Blockchain Application in Analytics
Data Science in the Aviation Industry
- Optimization of Operations
Emerging Trends
- Smart Wearable Gadgets
- Big Data
Aviation Analytics Market: New Technologies and Their Applications
- Aviation Cloud Technology
- Advanced Analytics and Digital Transformation
- Data Routing
- Artificial Intelligence
- Internet of Things
Parameters for the Selection of Aviation Analytics Solutions
Innovations and Patent Registrations
Solutions
- Growing Adoption of Analytical Solution for Different Business Functions to Stimulate the Market Growth
Services
- Growing Demand from Small-Sized End-users to Drive the Market Growth
Competitive Landscape
Company Profiles
- IBM Corporation
- General Electric
- Oracle Corporation
- SAP SE
- Ramco Systems
- IFS AB
- Capgemini SE
- Hexaware
- Lufthansa Technik
- Winair
- Honeywell
- Sita
- Atheer Air
- SAS Institute
- Booz Allen Hamilton
- MU Sigma
- Swiss Aviation Software
- Mercator
- Graymatter Software Services
- Beep Analytics
- Relx PLC
Startup/SMEs
- Zestiot
- IBS Software Services
- Aviation Intelligence Ltd.
- Innodatatics Inc.
- Aeroficial Intelligence
For more information about this report visit https://www.researchandmarkets.com/r/hon9fc
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-3-bn-aviation-analytics-market-to-2025-with-oracle-general-electric-lufthansa-technik-sap-and-ibm-dominating-301206336.html
SOURCE Research and Markets
