A new report by Persistence Market Research (PMR) says the global in-flight Wi-Fi market is anticipated to expand at a CAGR of 14.9% through to 2021.
The global in-flight Wi-Fi market was valued at US$ 2,114.3 million in 2014, but is predicted to rise to US$ 5,456.7 million by 2021.
In its latest report PMR says this is being driven by various growth factors.
In terms of market share, hardware was the dominant segment in 2014, with more than 60% share of the global in-flight Wi-Fi market.
However, the segment is expected to witness a decline in market share by the end of 2021 when compared with 2014.
The global in-flight Wi-Fi market has been segmented by technology into air-to-ground and satellite technology.
Of these segments, air-to-ground (ATG) technology such as pioneered by Gogo in the US, was the largest segment in the global in-flight Wi-Fi market in terms of revenue contribution in 2014.Ku-band was the largest satellite sub-segment in 2014.
However, PMR says that ATG is expected to lose its dominance to the satellite technology segment by the end of 2021.
Increasing deployment and adoption of connectivity hardware and services by airlines across the globe is fuelling the growth of the in-flight Wi-Fi market.
However, data privacy and security issues and lack of awareness regarding in-flight Wi-Fi service, particularly in developing regions, are restraining the growth of the market to some extent.
It says in-flight Wi-Fi service and hardware providers are following the strategy of mergers and acquisitions in order to enhance their market presence and expand their product portfolio, which in turn has resulted into consolidation of the global in-flight Wi-Fi market.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the in-flight Wi-Fi market in specific regions.
North America dominated the in-flight Wi-Fi market, accounting for more than 60% share of the overall market in 2014.
Asia Pacific market is expected to exhibit highest CAGR of more than 26% during the projected period.
Some of the major players identified in the global in-flight Wi-Fi market are Gogo Inc., Global Eagle Entertainment Inc., ViaSat Inc., Thales Group, Panasonic Corporation, Sita, Honeywell International Inc., Kymeta Corporation and Thinkom Solutions Inc.
Key players in the market follow the strategy of acquisition and mergers and are focused towards entering into strategic partnerships with regional players in order to strengthen their position in the market.
Furthermore, consistent investment on R&D activities in order to enhance existing products and services portfolio is another major strategy adopted by major players operating in the in-flight Wi-Fi market.
Browse the full report with a table of contents: http://www.persistencemarketresearch.com/market-research/in-flight-wi-fi-services-market.asp
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