PUNE, India, June 8, 2016 /PRNewswire/ --
The report "Aviation Analytics Market by End-User, Business Function (Finance, Operations, Maintenance & Repair, Sales & Marketing, Supply Chain) Application (Fuel, Flight Risk, Inventory & Revenue Management, Customer Analytics, Navigation) - Global Forecast to 2021", published by MarketsandMarkets, the market is estimated at USD 2.16 Billion in 2016, and is projected to reach USD 4.23 Billion by 2021, at a CAGR of 14.38% from 2016 to 2021.
Browse 87 market data Tables with 124 Figures spread through 179 Pages and in-depth TOC on "Aviation Analytics Market"
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Increasing amount of data generated across aviation industry, along with growing demand for market and competitive intelligence are the factors driving the growth of the aviation analytics market.
The finance segment is anticipated to account the largest share
The finance segment dominates the Aviation Analytics Market, by business function. With the help of the historically generated dataset attained from various sources like promotions data, sales data, booking transactions among others, the analytics team 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, by business function.
The customer analytics segment is projected to grow at the fastest CAGR
The customer analytics segment of the aviation analytics market, by application is anticipated to grow at the highest CAGR during the forecast period. Innovative use of the data combined with analytics can uncover crucial insights needed to satisfy the needs of the customer thereby gaining valuable understanding from the massive volumes of historical data.
Asia-Pacific region to witness highest CAGR in Aviation analytics market
The Asia-Pacific region is expected to experience extensive growth opportunities in the next few years. 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 towards the adoption of analytics solutions. Customer analytics along with sales & marketing plays a crucial role in the aviation analytics market in this region.
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The key players operating in the aviation analytics market are IBM Corporation (U.S.), Oracle Corporation (U.S.), General Electric (U.S.), SAP SE (Germany), and SAS Institute (U.S.).
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