Top 10 Growth Opportunities in Building Construction, 2024

Top 10 Growth Opportunities in Building Construction, 2024

The development and implementation of next-generation technologies, rapid advances in consumer technology, increasing shift to cloud computing, and utilization of IoT, big data, and machine learning to collect and analyze large amounts of data are transforming industry processes. The digitalization of various processes in commercial aviation has scaled up in the last decade. Commercial aviation companies increasingly focus on digitalization, hardware improvements, cost reduction for software services, and as-a-service business models. Companies utilize data to improve their processes across functions, and IoT helps them collect real-time data reliably and transparently. Using this technology efficiently, airlines can gather real-time data to improve employee productivity and ensure a smooth, hassle-free passenger experience. The declining cost of data-transmitting sensors and beacons has enabled aviation stakeholders to integrate this technology into various functions. Airlines and airports are well known for generating and possessing vast data. Big data allows them to collect real-time data from multiple sources efficiently and extract relevant insights. In this report, Frost & Sullivan discusses the impact of IoT in commercial aviation, including IoT focus areas by stakeholder (airlines; original equipment manufacturers; airports; and maintenance, repair, and overhaul firms), various applications (e.g., predictive operations, baggage tracking, asset management, non-aero revenue in airports, smart shop floors, sustainability), and brief case studies. We also offer stakeholders insights into the growth drivers and restraints expected to influence the industry until 2032 and some opportunities they can explore to benefit from the rising IoT implementation.