Portland, OR , Nov. 04, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global in-flight entertainment and connectivity market garnered $3.31 billion in 2017, and is expected to generate $6.24 billion by 2023, growing a CAGR of 11.2% from 2017 to 2023. The report offers an in-depth analysis of the top winning strategies, changing market trends, market size & estimations, competitive scenario, and top market players.
Advancements in connectivity technology especially in developed countries in North America and Europe, favorable government regulations & policies, and significant rise in number of connected aircraft and air passengers opting for usage in-flight entertainment and connectivity services boost the market growth. However, increase in cyberattacks and data breaches along with high initial costs related to installation of networking technologies and hardware would restrain the growth of the market.
Based on type, the hardware segment accounted for nearly three-fifths of the total share in 2016, and is expected to maintain its leadership status during the forecast period. However, the service segment is projected to grow at the largest CAGR of 16.3% from 2017 to 2023.
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Based on connectivity technology, the air-to-ground technology segment held nearly three-fifths of the total market revenue in 2016, and will maintain its lead in terms of revenue by 2023. On the other hand, the satellite technology segment is expected to grow at the fastest CAGR of 14.8% from 2017 to 2023.
Based on geography, North America held the highest market share in 2016, contributing nearly three-fifths of the total market share and will maintain its dominant share during the forecast period. Contrarily, Asia-Pacific region is expected to grow the highest CAGR of 21.0% from 2017 to 2023.
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Leading market players discussed in the research include EchoStar Corporation, Gogo Inc., Global Eagle Entertainment Inc., Kymeta Corporation, Honeywell International Inc., SITA (OnAir), Panasonic Corporation, Thikom Solutions Inc., Thales Group, and ViaSat Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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