Aviation Analytics Market to be Driven by Increasing focus on Customer Experience across the Globe through 2028
Growing adoption of data analytics in
the aviation industry is driving the aviation analytics market across the globe.
According to TechSci Research report, “Aviation Analytics Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F,” the global aviation analytics market is
growing owing to increasing adoption of data analytics by the enterprises to
manage massive amount of data from a variety of sources, such as flight
operations, passenger records, and aircraft maintenance. Cloud-based aviation
analytics is becoming increasingly popular as it offers several advantages over
traditional on-premises software, such as lower costs, easier deployment, and
scalability. In addition, aviation analytics can collect data on customer
preferences, which can be used to improve customer service, identify trends,
and make better business decisions. Moreover, AI and ML are being used to automate tasks in airlines
to detect fraudulent transaction issues and minimize losses. This is leading to
improved efficiency and productivity in aviation analytics, which are further contributing
to the growth of global aviation analytics market. The increasing demand for safer and more
efficient air travel and the increasing focus on customer experience are also
contributing to the growth of the market. Furthermore, businesses are
adopting aviation analytics due to the growing availability of data from a
variety of sources and the development of new technologies and solutions for
aviation analytics.
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Based on component, the market is
segmented into services and solutions. Based on deployment, the market is
further divided into cloud, on-premises. Based on business function, the market
is further divided into finance, operations, maintenance and repair, sales and
marketing, supply chain, and others. Based on application, the market is
further divided into flight risk management, fuel management, rout management,
fleet management, inventory management, wealth management, performance
monitoring, inspection, predictive analysis, part replacement, supply chain
planning, energy management, emergency management, mobility and functionality,
customer analytics, others. Based on end user, the market is segmented into
original equipment manufacturers, airlines, airports, maintenance repair and
overhaul.
Based on application, it is anticipated
that the customer analytics would have a sizable market share during the forecast
period. Various end users are focusing on personalizing the customer experience
by offering targeted discounts and sending tailored notifications to improve
customer satisfaction and loyalty. Businesses are increasingly adopting
customer analytics to understand customer behavior and predict the appropriate pricing
for the tickets based on their specific needs. This also allows airlines and
airport authorities to make better decisions on scheduling, pricing, and
inventory management. Therefore, enterprises are increasingly adapting customer
analytics solutions into their products.
Based on end user, the market is segmented
into original equipment manufacturers, airlines, airports, maintenance repair
and overhaul. The airlines are expected to account for a significant market
share over the forecast period. The presence of several untapped data in
airlines across the globe requires analytical software’s such as aviation
analytics to manage data effectively and generate insights for better customer services.
Moreover, aviation analytics is a critical tool for airlines to provide better
customer service, improve profitability, and increase safety. Moreover, this software
in the airline industry can provide manufacturers and authorities with access
to real-time data, performance metrics, and driving revenue growth, therefore
this software is in great demand. This high demand from the airlines is
expected to act as a positive factor for the global aviation analytics market
in the coming years.
Key market players in the global aviation
analytics market include:
- International Business Machine
Corporation (IBM)
- General Electric Company
- Honeywell International
- IGT Solutions Pvt. Ltd.
- OAG Aviation Worldwide Limited
- Oracle Corporation
- Ramco Systems Limited
- SAP SE.
- SAS Institute Inc.
- Accelya Group (Vista Equity Partners)
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“The North America region shows
substantial growth prospects for aviation analytics followed by Asia Pacific,
which can be attributed to the growing adoption of cutting-edge technologies
such as big data, artificial intelligence, cloud platforms and among others. In
addition, initiatives by leading authorities such as the Air Transport
Association of America (ATA), the Federal Aviation Administration (FAA) and the
growing investments on analytics by the prominent market players for research
and development activities are expected to act as a positive factor for aviation
analytics market in the United States. Thereover, the aviation analytics is
gaining traction and is expanding to various countries in North America,
including United States, Mexico, and Canada. Moreover, the presence of several
aviation analytics service providers such as International Business Machine
Corporation (IBM), General Electric Company and many more are increasingly enabling
the high adoption of aviation analytics by the enterprises in the region. United
States leads the aviation analytics market in North America and is expected to
continue its dominance in the global aviation analytics market during the
forecast period as well,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Aviation Analytics Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented
By Component (Services, Solutions), By Deployment (Cloud, On-premises), By
Business Function (Finance, Operations, Maintenance and Repair, Sales and
Marketing, Supply Chain, Others), By Application (Flight Risk Management, Fuel
Management, Rout Management, Fleet Management, Inventory Management, Wealth
Management, Performance Monitoring, Inspection, Predictive Analysis, Part
Replacement, Supply Chain Planning, Energy Management, Emergency Management,
Mobility and Functionality, Customer Analytics, Others), By End User (Original
Equipment Manufacturers, Airlines, Airports, Maintenance Repair and Overhaul),
By
Region, Competition,”
has evaluated the future growth potential of global aviation analytics market and
provides statistics and information on market structure, size, share, and
future growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the global aviation analytics market.
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