Portland, OR, Feb. 24, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ground to air on-board connectivity market was estimated at $9.68 billion in 2018 and is expected to hit at $24.44 billion by 2026, registering a CAGR of 13.8% from 2019 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
Rise in IT spending in the aviation, railway, and maritime industry, increase in consumer disposable income and surge in number of airline passengers fuel the growth of the global ground to air on-board connectivity market. On the other hand, high cost associated with the deployment and several connectivity issues restrain the growth to certain extent. However, increase in government initiatives to improve customer services is expected to create a number of lucrative opportunities in the industry.
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The entertainment segment to lead the trail by 2026
Based on the application, the entertainment segment contributed to more than three-fifths of the total market share in 2018 and is expected to dominate during the estimated period. The communication segment, on the other hand, would showcase the fastest CAGR of 13.1% by 2026.
The aviation segment to retain its dominance in terms of revenue
Based on end-use, the aviation segment garnered a major share in 2018, holding more than one-third of the total market. Simultaneously, the on-road transit segment is projected to generate the fastest CAGR of 15.6% throughout 2019-2026.
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North America garnered the highest share in 2018
Based on geography, North America accounted for nearly two-fifths of the total market revenue in 2018 and is anticipated to rule the roost during the study period. At the same time, the Asia-Pacific region would cite the fastest CAGR of 14.3% throughout the forecast period.
Leading market players
The key market players analyzed in the market report include Gogo Inc., Honeywell International Inc., Thales Group, ALE International, Inmarsat Plc., Viasat, Inc., Panasonic Corporation, Bombardier Inc., Rockwell Collins, Global Eagle Entertainment Inc., and others. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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