A new report released by ReportLinker has revealed that the baggage handling system (BHS) market is worth US$6.45bn in 2015 and will grow at a compound annual growth rate (CAGR) of 7.72% to reach US$9.36bn by 2020.
The Commercial Baggage Handling System Market by Airport Class, Identification Technology, Service, Type, Efficiency, Geography – Global Forecast to 2020 report, released on September 29, analyses the BHS market for the North America, Europe, Asia-Pacific, Middle East, Latin America, and Africa regions.
For the purposes of the report, BHS market was segmented on the basis of identification technology, service type, airport class, type, and efficiency. The two identification technologies considered in the report were barcode and RFID and the report also segmented BHS by service type – assisted service bag check-in and self-service bag check-in – and on the basis of airport class into class A, class B, and class C.
The Asia-Pacific region is expected to exhibit the highest growth rate in the BHS market and is growing at a CAGR of 8.26% during the forecast period from 2015-2020. The RFID segment in identification technology is projected to exhibit a strong growth as well. The concept of self-service kiosks, which provide passengers with convenience and operational efficiency, is the current trend at major airports.
The self-service bag check-in segment is expected to register a CAGR of 12.07% during the given forecast period.
Image courtesy of Crisplant, a Beumer Group company