Wireless In-Flight Entertainment Market Size, Share & Trends Analysis Report By Aircraft Type, By Fitment Type, By Hardware, By Technology, By Region And Segment Forecasts, 2023 - 2030
Wireless In-Flight Entertainment Market Growth & Trends
The global wireless in-flight entertainment market size is anticipated to reach USD 6,011.6 million by 2030, growing at a CAGR of 17.3% from 2023 to 2030, according to the latest report. The rise of wireless connectivity and the growing adoption of Bring Your Own Device (BYOD) trend are contributing to the growth. Moreover, an increase in the number of travelers using one or more connected devices and the majority of people looking out for entertainment during their travel, such as games, reading, watching movies, and listening to music are expected to drive the market growth further.
The enormous technological development in the aviation sector is leading to market participants implementing new products and services.Additionally, according to the International Air Transport Association (IATA), industry revenues from passengers are anticipated to reach USD 498 billion in 2022, which is more than twice the USD 239 billion earned in 2021.
This, in turn, is fueling the growth of the wireless in-flight entertainment industry over the forecast period.
Furthermore, the major in-flight entertainment service providers are driven to create better solutions as a result of ongoing connection and networking technology innovation investments in order to maintain a competitive edge.Leading companies in the market plan to offer cutting-edge portals and new connectivity technologies to boost bandwidth capacity and speed and offer smart connectivity to passengers’ electronic devices including smartphones, laptops, and tablets.
Therefore, bolstering market expansion throughout the forecast period.
North America is expected to hold the highest market share in 2022 owing to the presence of major wireless in-flight entertainment companies like Gogo LLC, and Panasonic Avionics Corporation, among others, in the region. Moreover, consumers’ inclination to spend more on air travel, particularly due to their need for ongoing connectivity as well as the rising acceptance of BYOD is expected to fuel the wireless in-flight entertainment industry over the forecast period.
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Digitization has been the driving force behind the most recent revolutions.Companies have long struggled with how to extract relevant insights from the millions of nodes of data created each day by IoT-connected devices.
The amount of linked gadgets, from a smartwatch to a smart speaker, is increasing the volume of data to be mined. Many new technologies, like as AI and Big Data, have become indispensable for gathering insights.
North America will gain a larger market share in the edge analytics market due to an increase in the need for predictive analytics, which will increase the adoption of edge analytics solutions with a higher concentration of industrial and telecommunications industries.With the rise of IoT, there has been a surge in interest in edge analytics.
For many firms, streaming data from different IoT sources produces a massive data repository that is challenging to manage.
Wireless In-Flight Entertainment Market Report Highlights
• The narrow-body type was the largest aircraft type segment in 2022, owing to the surge in demand for short-haul flights as well as the opening of new airports and travel routes, allowing it to grow at a CAGR of 16.9% from 2023 to 2030
• Based on the technology, the Ka-Band segment of the wireless in-flight entertainment industry is anticipated to grow with the highest CAGR of 20.2% during the forecast period owing to its usage and support in several revenue streams
• North America accounted for the largest market share of 29.3% in 2030, this is due to the investment and technological advancement from the key manufacturers in the region