Global Smart Airport Solutions market is expected to expand at a compound annual growth rate (CAGR) of 12.3% over the forecast period i.e. 2016-2024.Rising need for smart security and smart passenger services will boost the investment by airline and airport authorities’ that will subsequently boost the market growth.
Market Landscape
Globally, two-thirds of major airports are developing major advances in passenger effortless self-service solutions to deliver improved services. On the other hand, IT spending is expected to be the top priority by airport authorities. By 2018, more than 38% airports around the world will be incorporated with digital technologies such as interactive way findings, smart tracking of passengers and smart check-in services. In 2016, more than 57 percent passenger used kiosks to check-in and 37 percent passenger used smart bag tagging services.
Major European and Asian regions are continuing to develop, with Middle Eastern players developing rapidly and newcomers appearing in Latin America and Africa. In Europe, Middle East (GCC) and Asia, airports are mostly digitally developed. Their needs in terms of IT&T are further directed towards cutting-edge technologies and innovations which will be the major factor determining the shape of smart airport solutions market in these regions. African and Latin American countries are at the commencement of the digital era and will demonstrate a significant need for legacy IT systems in the next few years.
“Smart Airport Solutions Market” outlook covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in Smart Airport Solutions industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions with industry professionals, Smart Airport Solutions manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall smart airport solutions industry.
Global Smart Airport Solutions Market Segmentation can be classified on the basis of:-
By Services
- Automated Intelligent Building
- Smart Operations Planning
- Intelligent Passenger Tracking
- Predictive Retailing
- Predictive Security
- Seamless Connectivity
- Others (Digital Management of Energy etc.)
By Infrastructure
- Smart Devices
- Communication Systems
- Cargo and Baggage Ground Handling Control
- Air Traffic Control
- Security Systems
- others
By Geography
- North America (US, Canada) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
- The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
- Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
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Market Trends, Drivers, and Challenges
Globally, passenger traffic is swelling with 5% Y-O-Y growth and IT spending by the airport authorities is increasing to lower their operational expenditures and to implement advanced technologies, fuel the growth of global smart airport solution market. However, high initial investments and slow rate of adoption by the underdeveloped economies are expected to hinder the growth of global smart airport solution market. As for airport operations, the common trend within the industry entails in going for live and predictive operations in order to exploit the capacity of terminals and runways at their maximum levels.
Smart Airport Solutions Industry report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global Smart Airport Solutions market report also recognizes value chain analysis to understand the cost differentiation to provide the competitive advantage to the existing and new entry players.
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