The global market for Smart Airports in terms of annual spending is projected to exceed US$19 billion by 2024, driven by surging passenger traffic, growing investments in airport modernization and increasing investments in disruptive technologies that help improve the efficiency and effectiveness of airport operations. Growing airport competition and the resulting need to elevate passenger experience through connected, intelligent, digitalized, and personalized solutions ranks as one among the key drivers of growth. Future growth in the market will also be driven by escalating interest in automation technologies to ease the burden on airport infrastructure and workforce and rising demand for smart technologies that enable real-time information sharing and collaboration. Europe represents the largest market worldwide, supported by widespread airport automation initiatives. Asia-Pacific ranks as the fastest growing market with a CAGR of 9.1% over the analysis period led by factors such as continuous rise in the number of operational airports as a result of the growing affordability of air travel among the growing base of affluent middle class population; and modernization of old airports and growing adoption of advanced airport technologies such as airport information systems and baggage handling systems. The Middle East represents another promising market where a number of airports are pursuing projects that make travel customer service and journey seamless, satisfying, and enjoyable.
Summary of Findings
- The All Consuming Need to Reduce Operational Costs and the Resulting Increased Investments in Airport Self-Service Technologies like Self-Check-In to Benefit Market Growth
- Growing Airport Development and Expansion Activity Fuels Demand for Intelligent Airport Facility Management Technologies
- Internet of Things (IoT) Based Airport Management System and Cloud Computing Based Services Grow in Prominence
- Mounting Security Risks Drives Installation of Fingerprint Recognition, Advanced Palm Print Technology, Automated Border Controls and e-Gates
- Market to Benefit from the Rise of Bluetooth Enabled Beacon Technology to Provide Continued Assistance to Passengers Throughout Their Journey with Personalized Messages and Real-Time Updates
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America)
Market Segmentation & Classification
- Airport Applications:
- Terminal-Side, and Others
- Technology Segments:
- Air Traffic Management, Baggage, Building Operations, Check-In, Security, and Others
- Amadeus IT Group, S.A.
- Ascent Technology, Inc.
- Cisco Systems, Inc.
- Daifuku Co., Ltd.
- Ericsson AB
- Gentrack Group Limited
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