Allied Market Research has recently published a report on in-flight entertainment and connectivity market, which covers all the aspects of the industry from 2017-2023.

Portland, OR -- (SBWire) -- 09/15/2017 --The market is classified into various segments; on the basis of type, the market is segmented into hardware and service, on the basis of connectivity technology, the market is segmented into satellite technology and air-to-ground technology and on the basis of geography, the market is segmented into Europe, North America, Asia-Pacific, and LAMEA. The report also reveals the research methodology used, market scope, key findings, Porter's five forces analysis, the various driving factors leading to the growth of the market, restraints, opportunities, and challenges faced by the industry for the given forecast period. The report profiles the important players in the industry, presenting a comprehensive market scenario.

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The in-flight entertainment and connectivity market report focuses on the accelerating growth of the industry for the given forecast period. According to the study, the entire market was valued at $2,933 million in 2016 and is expected to reach an impressive $ $6,248 million by 2023, growing at a CAGR of 11.2% from 2017 to 2023.

The study on the in-flight entertainment and connectivity encompasses services such as video streaming, text messaging, and internet connectivity services provided to air passengers while flight travel. Moreover, IFEC services are ones that can support devices such as tablets, smartphones, and laptops. They allow air passengers to download IFE content on their personal electronic device (PED), thus removing the need of using seatback video altogether.

The main growth drivers of the market during the forecast period include evolution in connectivity technology, especially in the developed regions such as North America and Europe, establishment of government regulations & policies to stimulate the use of PED onboard, and a remarkable rise in the number of connected aircraft and consumers demand for in-flight entertainment and connectivity services. The factors that are expected to prove as impediments for the growth of the market include a rise in cybercrimes & data breaches and the high initial cost associated with the setting up of networking technologies and connectivity hardware.

Regarding the market type, the hardware segment proved to be the dominator in 2016, occupying about 60% market share. Initiation of advanced and cost-effective in-flight connectivity and entertainment hardware such as antennas, wireless hotspot gateways, and wireless LAN controllers are the main growth drivers of the market. Furthermore, it is estimated that the service segment will grow at the highest rate, registering a CAGR of approximately 16.3%. This is due to the increased airline expenditure on implementation & integration services, consulting services, and repair & maintenance services.

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Regarding the connectivity technology, the air-to-ground technology segment led the market in 2016, occupying about 57% market revenue share. At present, this segment is slowly gaining its position in emerging markets such as Latin America and Asia-Pacific region due to its lesser cost than satellite technology. Furthermore, the satellite segment is projected to grow at the highest CAGR of around 15% on account of higher demand for high bandwidth in-flight Internet services.

The report also includes the study of the in-flight entertainment and connectivity market across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. In 2016, North America accounted for the highest market revenue, with around 60% of the overall share. The Asia-Pacific region is likely to grow at the highest rate, registering a CAGR of around 21% during the forecast period. This is on account of rising number of air passengers, advancement in connectivity infrastructure and growth in the number of connected aircraft.

The report also has a mention of the international market players operating in the global in-flight entertainment and connectivity market. Aiming to gain a space in the market, the players are adopting strategies such as the introduction of enhanced connectivity technologies, strategic alliance, and acquisitions. Some of the key players of the industry include EchoStar Corporation, Global Eagle Entertainment Inc., Gogo Inc., Honeywell International Inc., Kymeta Corporation, Panasonic Corporation, SITA (OnAir), Thales Group, Thikom Solutions Inc., and ViaSat Inc.

Key Findings from the Market Study:

- On the basis of market type, the hardware segment dominated the in-flight entertainment and connectivity market in 2016, while the service segment is likely to grow at the highest CAGR

- On the basis of connectivity technology, the air-to-ground technology led the market in 2016

- In 2016, North America accounted for the highest share in the overall in-flight entertainment and connectivity market. Nonetheless, regarding growth, the market in Asia-Pacific is anticipated to grow at the highest CAGR.

- In 2016, the U.S. was leading the market in terms of spending on in-flight entertainment and connectivity technologies and services