Market Overview:
Inflight Shopping Market Size Valued at USD 9.87 Billion and Anticipated to Grow at a CAGR Of 5.45% by 2020-2030.
Inflight shopping is a service provided by the airline to the passengers. The global inflight shopping market insight can be attributed to the increasing adoption of inflight connectivity and rising acceptance of e-commerce platforms by passengers in the flight. The global market has been segmented based on aircraft class, carrier type, shopping type, and region.
The passengers are showing favourable interest in this platform, and the Market has successfully grabbed the passengers' attention. The development of new modes of advertisement is boosting the market's growth. The inflight duty-free shopping mode has been a flexible mode for the passengers travelling. As the aviation sector is has shown rapid growth in growth and is going to continue the same growth rate in the future, this major factor is driving the Market.
Market Segmentation:
On the basis of aircraft class, the global inflight shopping market industry has been divided into first class, business class, premium economy class, and economy class. The business class segment is expected to account for the largest share of the market and register the highest CAGR between 2019 and 2024. The rising implementation of duty free inflight shopping service in business class by airlines and high demand for inflight shopping service by the passengers travelling by business class across the globe are driving the growth of the segment.
In terms of carrier type, the market has been bifurcated into full service and low cost. The full service segment dominated the market in 2018 and is expected to register higher CAGR during the forecast period. In full service aircraft, advanced facilities such as inflight entertainment is provided by the airlines for better travel experience. Though the services offered by the airlines in the full service aircraft vary from country to country; however, airlines are focusing on providing better travelling experience to the passengers through inflight shopping services.
By shopping type, the global inflight shopping market by application has been categorized as travel essentials, accessories, beauty and care, children, and others. The travel essentials segment dominated the market in 2018. It is expected to be the fastest-growing segment during the forecast period. The rise in acceptance of shopping for travel essentials by passengers is driving the growth of this segment. Companies such as Inmarsat plc (UK), Lufthansa (Germany), and AirAsia Group (Malaysia) are launching a number of products in the travel essentials category. Additionally, these airlines are providing the passengers with real-time data regarding their order on their phones.
Key Players:
The major global inflight shopping market drivers are the reason behind the growth of the market revenue. They are contributing their best to make the market reach its expected CAGR. Below listed are the key players of the Inflight Shopping Market by application Share.
Inmarsat plc (UK), Lufthansa (Germany), AirAsia Group (Malaysia), The Emirates Group (UAE), Swiss International Air Lines AG (Switzerland), Thomas Cook Airlines Ltd. (UK), Singapore Airlines Limited (Singapore), EasyJet Airline Company Limited (UK).
Regional Analysis:
Based on region, the global inflight shopping market by application has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe was a key region for this market in 2018. The presence of various inflight shopping service providers such as Inmarsat plc, Thomas Cook Airlines Ltd, and EasyJet Airline Company Limited is propelling the market growth in the region. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period due to the rising demand for aircraft inflight facilities such as entertainment and increasing use of inflight advertising to promote shopping. Additionally, increasing number of aircraft in developing countries such as India is boosting market growth in the region.
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