New York, NY -- (SBWire) -- 08/10/2018 --In-flight Wi-Fi refers to onboard internet service provided on aircraft, which can be accessed by passengers via personal electronic devices such as smartphones, tablets and laptops. Globally, the in-flight Wi-Fi market is witnessing significant growth due to increasing consumer inclination towards high bandwidth applications such as on-demand video streaming, watching high definition videos and surfing media-rich web pages while travelling by flight, especially in developed regions. Also, increasing awareness regarding in-flight Wi-Fi services in developing regions across the globe as well as favorable regulations by aviation authorities for usage of personal electronic devices such as smartphones and tablets during all phases of flight are also fueling the growth of the global in-flight Wi-Fi market. However, the high initial cost associated with the implementation of in-flight Wi-Fi hardware along with an increase in cabin weight with the installation of hardware, are leading to higher operational costs for airlines. This, in turn, is impeding the growth of the global in-flight Wi-Fi market to a certain extent.

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The global in-flight Wi-Fi market was valued at US$ 2,114.3 million in 2014 and is expected to witness a healthy CAGR of 14.9% from 2015 to 2021. The global in-flight Wi-Fi market is segmented on the basis of type, technology and region. By type, the market is segmented into hardware and service. Of these segments, hardware segment dominated the market in 2014, with over 60% market share in terms of revenue contribution.

By technology, the global in-flight Wi-Fi market is segmented into air-to-ground technology and satellite technology. The air-to-ground technology was the dominant segment in 2014; however, satellite technology is anticipated to emerge as the dominant segment by 2021, due to growing adoption of satellite technologies such as Ku-band and Ka-band by airlines across the globe.

On the basis of geography, the global in-flight Wi-Fi market is segmented into five major regions such as North America, Europe, Middle East & Africa, Asia Pacific and Latin America; among these, North America was the largest regional market for in-flight Wi-Fi in 2014; however, revenue contribution by the region is expected to decline significantly by the end of 2021. The market in Asia Pacific is expected to exhibit the fastest a CAGR of over 25% during the forecast period.

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The key players operating in the global in-flight Wi-Fi market include Gogo Inc., Global Eagle Entertainment Inc., ViaSat Inc., Thales Group, Panasonic Corporation, Sita, Honeywell International Inc., Kymeta Corporation and Thinkom Solutions Inc.