[Avionics Today 06-09-2016] Markets and Markets’ new report predicts that the aviation analytics market, including data around fuel, flight risk, navigation, maintenance and finance, will reach $2.16 Billion in 2016, and is projected to reach $4.23 Billion by 2021. According to the firm, increasing amount of data generated across the aviation industry, along with growing demand for market and competitive intelligence are driving the growth of the aviation analytics market.
The finance segment dominates the aviation analytics market, according to the report. With the help of the historically generated dataset attained from various sources such as promotions data, sales data, booking transactions among others, the analytics team can help the companies to segregate their financial aspects taking into consideration the maximizing revenue strategies. The operations segment is considered to be the second-largest market in the aviation analytics market.
The report also predicts that the Asia-Pacific region will experience extensive growth opportunities in the next few years. This rising demand for advanced analytics, which are cloud-driven and cloud supported, has resulted in the increase in demand for analytics solutions in the region, thereby resulting in increasing investments and technological advancements across various industries verticals. Fast-growing countries such as China and India are rapidly moving toward the adoption of analytics solutions. Customer analytics along with sales and marketing plays a crucial role in the aviation analytics market in this region.