Global Aviation IoT Market: Internet of Things(IoT) is combination of operational technology with information technology connected via virtual intelligence to send, control, and receive data with/without human intervention. The technology simplifies human efforts and reduces the need for manual interference. Leveraging IoT solutions and services will add a new dimension to the entire digital transformation of the airline process. Integrating IoT with technologies such as Big Data, artificial intelligence (AI), and robotics are expected to create several opportunities for improving the quality of services delivered by the aviation sector.
Increasing investments in smart airports concept and rising adoption of cloud-based IoT services and solutions are major factors driving growth of the global aviation IoT market. In addition, airlines are being upgraded to IoT-enabled eco-systems and infrastructure to streamline the efficiency, enhance connectivity and speed of communication, and to decrease operational costs, thereby augmenting business productivity. Increasing application of IoT solutions and services in smart and active airports helps to boost growth of ancillary products and services to customers which is further driving growth of the global aviation IoT market. Moreover, deployment of IoT-based sensors helps in data analytics and in-flight tracking which are some other factors further propelling growth of the global aviation IoT market.
Major factors hampering growth of the global aviation IoT market are high deployment costs and complexities with interoperability. In addition, concerns related to security and privacy of data along with lack of standard regulations are some other factors hampering growth of the global aviation IoT market.
Personalization of connected devices, increasing investments in development of assistive technologies such as communication systems, mobility solutions, and support for visual and hearing impairments to differently abled passengers will drive growth of the global aviation IoT market for the next five years. In addition, growing investments in connectivity solutions for in-flight services is further expected to create lucrative opportunities for key players during the forecast period.
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The global aviation IoT market is segmented on the basis of application and region.
North America dominates the global aviation IoT market in terms of revenue and accounts for XX% of the global market share. This growth is attributed to increasing adoption of IoT enabled infrastructure and eco-system across various sectors and industries. The market in Asia pacific is projected to register a CAGR of XX.X% during the forecast period. This growth is attributed to rising deployment of assistive technologies along with increasing investments on in-flight connective solutions. The market in Europe is expected to witness considerable growth in terms of revenue during the forecast period.
Key players in the global aviation IoT market are Cisco Systems Inc., International Business Machine Corporation, Microsoft Corporation, Wind River, Apple Inc., Accenture, Living PlanIT, and SITAONAIR.