On-Board Connectivity Market to Reach USD 36.84 Billion by 2025 | Top Players such as- Gogo, Inmarsat and Viasat
On-Board Connectivity Industry
Bolstering use of portable electronic devices and rise in the growth of disposable income have fueled the growth of on-board connectivity market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 18, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The On-Board Connectivity Market to Reach USD 36.84 Billion by 2025 | Top Players such as- Gogo, Inmarsat and Viasat." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global on-board connectivity market size was valued at USD 12,811.0 million in 2017 and is projected to reach USD 36,842.3 million by 2025, growing at a CAGR of 14.3% from 2018 to 2025.
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Current and future on-board connectivity industry trends are outlined to determine the overall attractiveness of the global market. Top impacting factors highlight on-board connectivity market opportunity during the forecast period. Factors such as increase in IT expenditure in the aviation, maritime, and railway industries, and rise in disposable income of consumers are expected to fuel the on-board connectivity market demand. In addition, growth in number of airline passengers in past few years is also the major factor driving the on-board connectivity market growth.
The global on-board connectivity market is segmented into component, technology, application, end use, and region. Based on component, the market is classified into hardware and services. In terms of technology, the market is bifurcated into satellite and Ground to Air. As per application, the market is categorized into entertainment, and communication. Based on end use, the market is divided into maritime, railway, aviation, and on-road transit. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The entertainment segment dominated the on-board connectivity market share in 2017 and is expected to continue this trend during the forecast period, due to increase in IT investment in aviation, maritime, and railways by government organizations and several other companies. In addition, increase in demand for live streaming videos and rise in use of social media apps are also the major factors driving the growth of this segment.
The ground to air segment dominated the overall on-board connectivity market in 2017 and is expected to remain dominant during the forecast period, due to significant growth and adoption of wireless communication technologies such as 4G LTE, and expected launch of 5G are the major factors fueling the market growth. On the contrary, the satellite segment is also expected to grow at a rapid pace throughout the forecast years.
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North America dominated the overall market in 2017, as the U.S. was a major contributor to the growth of the North America on-board connectivity market. The dominance of this region is primarily due to the presence of major market players in this region. In addition, availability of strong on ground as well as satellite connectivity is also the major factor fueling the market growth in this region.
The global on-board connectivity market is dominated by the key players such as ALE International, Bombardier Inc., Global Eagle Entertainment Inc., Gogo Inc., Honeywell International Inc., Inmarsat Plc., Panasonic Corporation, Rockwell Collins, Thales Group, Viasat, Inc. and others.
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KEY FINDINGS OF THE STUDY
● Based on technology, the ground to air segment is expected to exhibit significant share in the global on-board connectivity market during the forecast period. Significant number of connectivity service providers prefer to use well-established ground cellular networks for connectivity.
● Based on end use, the aviation segment generated the highest revenue share in 2017. With the growing demand for in-car infotainment services, cars segments is expected to grow with lucrative CAGR over the forecast period.
● Based on region, the Asia-Pacific on-board connectivity market is anticipated to experience rapid growth during the forecast period due to increase in investments by government organizations. Presence of economies with over a billion population as consumers or passengers in China and India are expected to further fuel the market growth in coming years.
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