Middle East & Africa Airport Asset Tracking Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Offering, and Asset Type

Hardware Segment to Dominate MEA Airport Asset Tracking Market during 2019-2027

According to a new market research study on “MEA Airport Asset Tracking Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Asset Type” is expected to reach US$102.3 million by 2027 from US$41.2 million in 2019. The market is estimated to grow at a CAGR of 12.7% from 2020 to 2027. The report provides trends prevailing in the MEA airport asset tracking market along with the drivers and restraints pertaining to the market growth. Ecosystem players are forming new joint associations, which is the major factor driving the growth of the MEA airport asset tracking market. However, issues airport investments short falling in developed countries hinders the growth of MEA airport asset tracking market.

The MEA airport asset tracking market is segmented into offering, asset type and country. Based on offering, the MEA airport asset tracking is bifurcated into hardware and software. Software segment to witness highest growth during the forecast period. On basis of the asset type the market is further segmented into fixed assets, portable assets and mobile assets. Mobile assets held a substantial market share throughout the forecast period.

Also the ongoing COVID-19 is having terrible effect on MEA economy. In the MEA region, Iran, Saudi Arabia, Qatar, South Africa, and UAE are some of the countries with high number of COVID-19 confirmed cases and deaths. The economic and industrial growth of these countries has been affected negatively in the past few months. The region comprises many growing economies such as UAE, among others, which are prospective markets for asset tracking solution providers, owing to the huge presence of diverse customer base as well as infrastructural development to build smart cities. The MEA aviation industry has been shocked by the emergence of the COVID-19 virus across the region. Continuously falling number of passenger counts at airports until airport operations ceased by the governing authorities led the airports to observe downfall in revenue generation. The region has a number of aircraft construction, and expansion projects in the pipeline which are expected to be completed by 2020 and 2021, the temporary shutdown of construction activities are reflecting slower than the usual adoption rate of technologies. This is negatively impacting the airport asset tracking market. However the market is expected to bloom by mid-2021 for upcoming years.

Asset Fusion Limited; Ctrack, Litum, Tri-Logical Technologies Limited, Unilode Aviation Solutions are among the leading companies in the MEA airport asset tracking market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Asset Fusion Limited; Ctrack; Litum; Tri-Logical Technologies Limited; Unilode Aviation Solutions.

The report segments the MEA Airport Asset Tracking Market as follows:

MEA Airport Asset Tracking Market - By Offering

• Hardware
• Software

MEA Airport Asset Tracking Market - By Asset Type

• Fixed Assets
• Portable Assets
• Mobile Assets

MEA Airport Asset Tracking Market - By Country

• Saudi Arabia
• South Africa
• UAE
• Rest of MEA

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA airport asset tracking market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the MEA airport asset tracking market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the airport asset tracking market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution