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"Overview of In-flight Entertainment market"
Global In-Flight Entertainment Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 15.2 Bn by 2028, Likely to Grow with the CAGR of 10.2% During the Forecast Period.
The global In-flight Entertainment market has shown significant growth and is anticipated to grow rapidly in coming years. Some of the factors fuelling the growth if global market includes rising demand from business travels, growing airline industries, rising trend towards BYOD, and shift towards usage of PEDs (Personal Electronic Devices).
Technological Advancement in Connectivity Sector and Rising Adoption from Developed Countries Are Fuelling the Market Growth
The companies operating in network and connectivity Sector are highly focused on innovation and development to cope up with increasing competition in global market. This is expected to put a positive impact on the growth of global market. The installation of these services has gained popularity and proved to be beneficial both for airlines as well as end-users.
Moreover, the rising adoption from developed countries including Canada, Germany, U.S. is owing to high purchasing power is expected to fuel the growth of global in-flight entertainment market during the forecast period.
However, stringent government policies, certification and regulatory framework requirement might hamper the growth of global market. Also, the deployment of these services increases the overall weight of aircraft which is anticipated to limit the growth of global market. Although, in response with huge demand from different airlines manufacturers are introducing advanced and lightweight devices which is expected to further drive the growth of global market.
Based on Component, the Digital In-flight Entertainments Accounted for Significant Share in Global Market
On the basis of component, the global market is dominated by hardware segment. The hardware segment is further sub-segmented into portable and non-portable. The portable hardware is projected to witness rapid growth over the forecast period. Emergence of wireless IFE service is expected to surge the demand for portable hardware.
Furthermore, the connectivity segment is forecasted to grow rapidly in coming years. The wired connectivity segment held largest share in 2018 whereas the wireless segment is expected to witness noteworthy growth in future. The significant entertainment services offered by airlines aimed at enhancing travel experience is expected to impose a positive impact on the segment growth.
Based on Aircraft Type, the Wide-Body Aircraft Accounted for Significant Share in Global Market
By aircraft type, the wide-body aircraft is anticipated to hold maximum share over the forecast period whereas the narrow-body aircraft segment is estimated to witness rapid growth in coming years. The wide-body aircrafts are used for international routes and long-haul flights which necessitate the availability of onboard entertainment services and data capability.
IFE Segment Accounted For Significant Share in 2019 and Expected To Dominate the Global Market during The Forecast Period
Based on product type, the IFE segment occupies significant share in 2018. The rising concern to improve the traveller’s experience during journey, the operators are increasingly deploying advanced technologies which contributes in the segment growth. Moreover, introduction of portable and compact LED video devices promotes the adoption of lightweight IFE devices.
Furthermore, the IFC segment is projected to witness highest growth over the forecast period. The growth of the segment can be accredited to growing demand for on-board wi-fi services. It has been observed, since last few years it has become necessary for airlines to provide on-board wi-fi and entertainment services throughout the journey to sustain in the highly competitive market.
North America is anticipated to dominate the Global In-flight Entertainment Market During the Forecast Period
By geography, North America is anticipated to hold maximum share throughout the forecast period. Europe is the second highest revenue generator in global in-fight entertainment market. The growth of North America can be credited to the dense flight networks spread across Canada and USA and the matured airline industry. Moreover, the American airlines are increasingly adopting technological advancements intended to provide entertainment and wi-fi services to their customers which is expected to fuel the regional growth.
On the other hand, Asia Pacific is projected to show rapid growth during the forecast period. Emergence of BYOD and PED market supports the growth of in-flight entertainment market in Asia Pacific. Moreover, focus of several manufacturers to expand their operational units in emerging Asian continents is expected to create new growth opportunities for the region.
Key players operating in global in-flight entertainment market are Lufthansa Systems GmbH & Co. Kg, Honeywell International, Zodiac Aerospace, Digecor, Inc., Sitaonair, Viasat, Inc., Rockwell Collins, Inc., Gogo LLC, Global Eagle Entertainment, Inc., Thales Group, and Panasonic Avionics Corporation
Global In-flight Entertainment Market by Component
Global In-flight Entertainment Market by Aircraft Type
- Narrow-body Aircraft
- Very Large Aircraft
- Wide-body Aircraft
Global In-flight Entertainment Market by Product Type
- In-Flight Connectivity (IFC)
- In-Flight Entertainment (IFE)
Global In-flight Entertainment Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America