Aviation Analytics Market is expected to grow at a CAGR of 14.5% from 2018 to 2025
The global aviation analytics market is estimated to be valued at about USD 2.86 billion by 2018, growing at a CAGR of 14.5% from 2018 to 2025. The major factors responsible for the growth of this market are the growing focus on competitive intelligence and analytical solutions, increasing technological advancements, and rising focus on food sterilization. However, inappropriate analytical skills among the workforce and dearth of knowledge for selecting proper data models as per needs of businesses are limiting the growth of this market.
On the basis of aviation analytics application, the customer analytics segment is projected to grow at the fastest CAGR from 2018 to 2025. This is due to the growing middle-class population, and increasing tourism leads to generate more data and aviation analytics system to analyze the whole data; hence, this segment is projected to witness more demand in the aviation analytical market.
In the Asia-Pacific region, China and India held the largest market share in 2017, and it is estimated to witness the highest CAGR during the forecast period. The emerging markets of India and China are the attractive destinations for investment and expansions, development, and marketing of the airline services. Rise in trade and tourism due to expansion and improvement in the living standards has resulted in the rise in the volume of data generated. The analytical solution tools are used to analyze these generated data; hence, the adoption of analytical solution tool is rising from market players in China and India.
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The North American region held the largest share in 2017 and is expected to continue with the same position throughout the forecast period. The factors driving the demand for aviation analytics in the region are increasing investments and advancements in the field of cloud technology, growing pressure on an improvement of operational efficiency and reducing costs across regions, and increasing consumer expectations.
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The key players in the global aviation analytics market include Airport Analytics, APiJET, Aviation analytics, Booz Allen Hamilton, DXC Technology, General Electric, IBM, Mu-Sigma, Oracle, SAS Institute, and SAS SE.
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