Global Smart Baggage Handling System Market to Reach $8.5 Billion by 2027
Amid the COVID-19 crisis, the global market for Smart Baggage Handling System estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2027, growing at aCAGR of 19.1% over the period 2020-2027. Airport, one of the segments analyzed in the report, is projected to record 20.2% CAGR and reach US$6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Railway Station segment is readjusted to a revised 17% CAGR for the next 7-year period.
The U.S. Market is Estimated at $744.3 Million, While China is Forecast to Grow at 18.4% CAGR
The Smart Baggage Handling System market in the U.S. is estimated at US$744.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2027 trailing a CAGR of 18.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.9% and 16.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.1% CAGR.We bring years of research experience to this 7th edition of our report. The 176-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Alstef Automation SA
- Beumer Group GmbH & Co. KG
- Daifuku Co., Ltd.
- Fives Group
- G&S Airport Conveyor
- Pteris Global Limited
- Vanderlande Industries BV