Global Lost and Found Software Market is valued approximately at USD $ billion in 2019 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2020-2027. Lost and Found Software is a digital aid provided to businesses dealing with large customer visits such as hotels and tourism to identify, track, store and return missing property to the rightful owner. This software helps to enhance the customer experience and loyalty as when costumers lose certain belongings during their visits in places such as tourists places, hotels, local government buildings and others. The ease of return of the lost item integrates a positive feedback in customers building their loyalty and indirectly profiting the software user.
The growing trend of travel among the population has crowded the tourist places and hotels burdening these businesses with cases of Lost and found items. The growing burden and complexity of return necessitates the adoption of Lost and Found Software driving the market growth. As per Company sources, on an average 1.24 number of items are lost per person per year and with the average cost of a single item amounting to USD 220.15. Moreover, the growing number of airports and increasing number of air passengers results in rise in lost item cases thus driving the market growth.
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As per Airports Council International, there were more than 2500 airports in more than 180 countries across the globe as of 2018 and also the total number of passengers increased to 8.8 billion in the same year with a year on year increase of 6.4%. As per the Indira Gandhi international Airport (IGI) in New Delhi, India, 10,000 items are were lost in 2017 with Cellphones and Liquor comprising major share in the lost items. While the Dubai airport which is among the top 3 busiest airports in the world reported more than 100 thousand lost items in the same year. Further, As per Delhi International Airport Ltd (DIAL) the IGI adopted new software for lost and found items scrapping off the old manual procedure. However, high installation costs and lack of awareness impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Lost and Found Software market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising population and growing air industry would create lucrative growth prospects for the Lost and Found Software market across Asia-Pacific region.
Major market player included in this report are:
FindMyLost
Foundrop
Lostings
Have It Back
Bee Factory
tracNcare Inc
24/7 Software
Crowdfind
MissingX
IQware
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
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Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Subscription Type:
Monthly Subscription
Annual Subscription
By End-User:
Airlines
Hotels
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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