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The development of on-board entertainment

Views: 0     Author: Site Editor     Publish Time: 2022-05-30      Origin: Site

Current and future on-board entertainment industry trends are outlined to determine the overall attractiveness of the global market. Top impacting factors highlight on-board entertainment market opportunity during the forecast period. Factors such as increase in IT expenditure in the aviation, maritime, and railway industries, and rise in disposable income of consumers are expected to fuel the on-board entertainment market demand. In addition, growth in number of airline passengers in past few years is also the major factor driving the on-board entertainment market growth. However, high cost associated with the deployment of on-board entertainment systems is expected to impede the market growth. The entertainment issue is also a major factor anticipated to hamper the market growth as high-speed trains move quickly from one cellular tower to another. Furthermore, increase in government initiatives to enhance customer services are expected to provide major opportunities for the growth of the on-board entertainment market. The benefits of Internet of Things are majorly being experienced in consumer domain such as transport, which comprises aviation, maritime, railway and other road transits, which in turn drive the growth of the on-board entertainment market. Moreover, integrating on-board entertainment devices into airplanes, railways, and ships system enables additional functionality. Also, it allows service providers to keep the passengers entertained during the course of their journey, which in turn enables to attract more passengers. This is the major factor that boosts the growth of the market. For instance, the number of connected cars is predicted to reach $220 million by 2020. Also, according to a survey by Inmarsat in 2015, the demand for in-flight broadband services among Europe’s aviation passengers is on the rise. For instance, the survey stated that if given the opportunity 80% people are estimated to use in-flight Wi-Fi and 67% passengers will willingly pay for the service, which is expected to provide major opportunities for the market growth. Moreover, growth in usage of social media and increase in trend of continuously being connected with friends and families through various social media apps are the major factors expected to provide major opportunities for the growth of the on-board entertainment market. Increase in penetration of smartphones is the major reason for people to become more technologically active and thus, willingly spend more on related services. In addition, rise in disposable income of the people is also the major factor that triggers such technological advancements. For example, disposable income of people in the most populous countries such as India and China has increased over the past few years, which in turn has fueled their expenditure on various factors such as, luxury, food, technologies, and others. Moreover, increase in influence of social media on daily life of people is also the major factor that is indirectly affecting their income. Moreover, people are willing to spend more for staying connected with their family and friends while travelling. For instance, according to Inmarsat’s Global Inflight entertainment Survey, 61% people said high-quality inflight Wi-Fi is more important to them than onboard entertainment and 45% people were willing to pay for the on-board Wi-Fi service.

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