Aviation Analytics Market: A Deep Dive into the Industry's Key Applications and Technologies
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Increase in air passenger traffic across the world is one of the key factors driving market revenue growth
VANCOUVER, B.C., CANADA, April 5, 2023 /EINPresswire.com/ -- The aviation analytics market size reached USD 2.95 Billion in 2021 and is expected to register a revenue CAGR of 12.0% during the forecast period to the latest analysis by Emergen Research. Increase in air passenger traffic across the globe is a key factor driving revenue growth of the market.
Artificial Intelligence (AI) refers to a group of technologies that are excellent at gleaning patterns and insights from vast amounts of data, which are then used to generate predictions based on that knowledge. AI is therefore being utilized to automate the analytics process in order to make it more accessible and efficient due to enhanced user interface provided by natural language processing. Various aviation analytics solutions based on AI platforms are provided by businesses such as SAP SE and Oracle Corporation. Among the market's AI-based analytics options are automation platforms, content management systems, and CRMs. As a result, adoption of AI in data analytics may present a growth potential for the aviation analytics sector.
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Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8-year analysis of the Global Aviation Analytics Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Aviation Analytics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Some major companies in the market report include The International Business Machines Corporation (IBM), General Electric Company, Accelya, IGT Solutions Pvt. Ltd., MU Sigma, Ramco Systems, Oracle Corporation, SAP SE, SAS Institute Inc., and OAG Aviation Limited.
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Some Key Highlights From the Report
The software segment is expected to register significant market revenue growth. Airports, airlines, and other airport carriers can all benefit from the operational support provided by aviation analytics software. It assists in controlling the airline fleet. Utilizing this package includes management of airport workers as well as automation of the front desk and sales/service processes.
The customer analytics segment is expected to register substantial growth over the forecast period. Customer analytics is regarded as the cornerstone of all marketing initiatives and frequently involves techniques such as data visualization, predictive modeling, information management, and segmentation. In addition, customer analytics helps firms lower attrition by accurately predicting the clients who are most likely to depart. Customer analytics also assists firms in increasing customer loyalty and response rates by engaging with the appropriate customers and making the relevant offers.
The airlines segment is expected to register moderate revenue growth over the forecast period. Quick responses to current and future market demands, better planning and strategically aligned decision making, as well as a clear understanding and ongoing monitoring of all major performance drivers relevant to the aviation industry are among the top benefits of analytics. When the aforementioned benefits are effectively applied, lower operating costs, improved customer service, market-leading competitiveness, higher profit margins, and higher shareholder value all follow.
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Market Overview:
The report bifurcates the Aviation Analytics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Emergen Research has segmented the Aviation Analytics Market market on the basis of component, application, end-use, and region:
Component Outlook (Revenue, USD Billion; 2019-2030)
Services
Software
Application Outlook (Revenue, USD Billion; 2019-2030)
Fuel Management
Customer Analytics
Inventory Management
Navigation Services
Revenue Management
End-use Outlook (Revenue, USD Billion; 2019-2030)
Airports
Airlines
Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Research Report on the Aviation Analytics Market Addresses the Following Key Questions:
Who are the dominant players of the Aviation Analytics market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Aviation Analytics market?
What are the key growth drivers and restraining factors of the Aviation Analytics market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Aviation Analytics market and its key segments?
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