Airport RFID System Market CAGR Status and Challenges, Assessing the Landscape by 2030
Market Overview:
Airport RFID System Market Size is expected to reach USD 10.78 Billion by 2030, registering a CAGR of 10.1% during 2020-2030.
The RFID is a newer technology compared to barcodes. The RFID system is widely used at airports for baggage tracking, flyable parts tracking, inventory management, and others. The RFID tags act as a tracker, thereby minimizing incidences such as misplacement and theft. The major factors driving the growth of the market are increasing usage of security & access control application and rising installation of RFID in airports for baggage handling. However, the high installation cost of RFID system is hampering the Airport RFID System Market size growth.
Among regions, North America is expected to grow substantially in the Airport RFID System Market size during the forecast period. Moreover, North America has a presence of major companies, such as Globe Ranger, RFID Global Solution, Inc., Rockwell Collins Inc., and Honeywell International Inc. Countries, such as the U.S. and Canada are expected to have a significant growth during the forecast period. In addition, regions such as Europe and the Middle East & Africa will have prominent growth due to the fast-paced growth in the aviation sector. As a result, the market for airport radio frequency identification System market growth will see during the forecast period.
Market Segmentation:
This study provides an overview of the global Airport RFID System Market size, tracking three market segments across five regions. The report studies the key players, providing a five-year annual trend analysis that highlights market size, volume, and share in North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The study segments the global Airport RFID System Market by frequency, application, type, and region.
· Frequency
o Low Frequency
o High Frequency
o Ultra-High Frequency
· Application
o Baggage Tracking
o Flyable Parts Tracking
o Inventory Management
o Others
· Type
o Product
§ Tags
§ Readers
o Software
· By Region
· North America
· Europe
· Asia-Pacific
· Middle East & Africa
· Latin America
Key Players
The Airport radio frequency identification System market industry key players are GlobeRanger (U.S.), RFID Global Solution, Inc. (U.S.), Rockwell Collins Inc. (U.S.), Grenzebach Group (Germany), BCS Group (Canada), Beumer Group (Germany), Siemens AG (Germany), Honeywell International Inc. (U.S.), Daifuku Company Ltd (Japan), and Confidex (Finland).
Regional Analysis:
North America is expected to grow substantially in the Airport RFID System Market size during the forecast period. Moreover, North America has a presence of major companies, such as GlobeRanger, RFID Global Solution, Inc., Rockwell Collins Inc., and Honeywell International Inc. Countries, such as the U.S. and Canada are expected to have a significant growth during the forecast period. In addition, regions such as Europe and the Middle East & Africa will have prominent growth due to the fast-paced growth in the aviation sector. As a result, the market for airport RFID system will grow during the forecast period.
Related reports:
Airport Security Market Research Report: Information by Type (Access Control, Perimeter Security, Screening, and Others), Systems Equipment (Metal Detector, Backscatter X-Ray System, and Others), Technology (RFID, Biometrics, and Others), and by Region (North America, Europe, Asia-Pacific, the Middle East Africa, and Latin America) - Forecast till 2030
Airport RFID System Market Research Report: Information by Frequency (Low Frequency, High Frequency and Ultra-High Frequency), Application (Baggage Tracking, Flyable Parts Tracking, Inventory Management and others), Type (Product and Software) and Region (North America, Asia-Pacific, Europe, the Middle East & Africa and Latin America) - Forecast till 2030
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