Dublin, Jan. 08, 2021 (GLOBE NEWSWIRE) -- 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).
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
Lack of Appropriate Analytical Skills
Cloud-Based Real-Time Data Collection and Analytics
Incorporation of AI-based Analytics Solutions for Critical Functions in the Aviation Industry
Requirement of Diverse Data Models
Economic Challenges Faced by the Aviation Industry due to COVID-19
COVID-19 Impact Analysis
Trends/Disruptions Impacting Customers' Business
Revenue Shift and New Revenue Pockets for Aviation Analytics Market
Private and Small Enterprises
Average Selling Price of Analytics Solutions
Value Chain Analysis
Porter's Five Forces Analysis
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)
Blockchain Application in Analytics
Data Science in the Aviation Industry
Optimization of Operations
Smart Wearable Gadgets
Aviation Analytics Market: New Technologies and Their Applications
Aviation Cloud Technology
Advanced Analytics and Digital Transformation
Internet of Things
Parameters for the Selection of Aviation Analytics Solutions
Innovations and Patent Registrations
Growing Adoption of Analytical Solution for Different Business Functions to Stimulate the Market Growth
Growing Demand from Small-Sized End-users to Drive the Market Growth
Booz Allen Hamilton
Swiss Aviation Software
Graymatter Software Services
IBS Software Services
Aviation Intelligence Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/q1fvo
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