A new report from Research and Markets.com says the global inflight connectivity market reached $3,997.million in 2017 and is expected to reach $13,319.6 million by the end of 2025, expanding at a CAGR of 16.5% over the forecast period.
It says factors such as growing demand for inflight connectivity services, increasing penetration of smartphones, and rising numbers of airline passengers are likely to aid the growth of the in-flight Wi-Fi market.
North America is slated to account for a leading share of 49.5% in terms of revenue by 2025 in the inflight Wi-Fi market.
It says the high inclination of North America airline players toward adopting inflight connectivity services is expected to propel the growth of the inflight Wi-Fi market in the North America region.
Additionally, it says the U.S. in-flight Wi-Fi market reached $1,843.5 million in 2017 and is expected to reach $5,042.7 million by the end of 2025, expanding at a CAGR of 13.7% over the forecast period, that is 2018-2025.
Further, the market for U.S. in-flight Wi-Fi is anticipated to achieve a year-on-year growth rate of 17.2% in 2025, compared with the previous year.
Asia Pacific is expected to show significant growth over the forecast period i.e. 2018-2025 by registering a CAGR of 23.5% over the forecast period.
Further, it claims the market is expected to account for $2,457.5 million in 2025 from $462.1 million in 2017.
The China inflight connectivity market held at $215.2 million in 2017 and is anticipated to reach $1,061.9 million by the end of 2025.
It adds the China market accounted for a market share of 46.6% in 2017 and is expected to increase to a market share of 43.2% by the end of 2025.
The report says the China in-flight Wi-Fi market is expected to achieve year-on-year growth rate of 26.2% in 2025 compared with the previous year.