Global Smart Airports Market; by Size (Small, Medium and large Airport); By Application (Airside, Terminal Side and Landside); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Technology seems to bind everything nowadays. There is therefore no surprise that the airports themselves are transforming and linking themselves digitally, an innovation that allows millions of travelers to link across the world every year. The connected or smart airport integrates a range of Internet of Things (IoT) technologies to make an airport more strategically diversified, including improved passenger experience and allowing more productivity and new streams of revenue to take advantage of monetary benefits.
Fatpos Global anticipates the Smart Airports market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. This growth is anticipated due increasing mergers and acquisitions across various sectors which will create a worldwide demand for Smart Airports. Increased penetration of automated and linked airport processes including self-service check-ins, intelligent baggage drop and intelligent bag tracking can be accredited to development of the market.
Smart Airports Market: Segments
Global market has been segmented on the basis of size, application type and by location. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.
The medium segment is anticipated to register XX% of the volume share and is expected to grow at a highest CAGR.
Global Smart Airports Market is segmented by size into: Small, Medium and large airport. There is high passenger traffic at airports, which continues to rise year after year. The revenue of airports is therefore directly proportional to their passengers. More than 70% of global air passenger traffic is managed by large and medium airports. Therefore, in order to promote successful airport operations, airports need to update and incorporate intelligent systems. Medium-sized airports are industry leaders, since many medium-sized airports around the world are present in large numbers.
Global Smart Airports Market: Market Dynamics
Technological advancement and consumers centric approach is expected to spur market growth
Increased penetration of automated and linked airport processes including self-service check-ins, intelligent baggage drop and intelligent bag tracking can be accredited to development of the market. The growing demand is expected to increase over the forecast period for a variety of technologically advanced non-aeronautical devices, communication devices and safety systems, such as electronic baggage tags. Use of advanced technologies will enhance the experience of the customers.
Risk of cyber attacks hampers the market growth in the smart airports market
The high cost involved in the making and implementation of its architecture of the smart and digital systems would hinder the market growth. Combination of various subsystems and electronic components are required to provide the airport authority with real time data. The development and repair cost of such systems are comparatively very high and therefore people at the authority prefer to outsource the security from a third party thus leading them to spend more time on it.
Global Smart Airports Market: Regions
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC and MENA.
In the North American region, the United States dominates the intelligent airports market. Operations at airports need to be streamlined by fueling innovation in intelligent applications. IoT, AI and AV VR implementation has the ability to simplify and provide accountability for airport operations. The largest number of airports around the world fuels North America’s demand for IoT technology integration.
Global Smart Airports Market: Key Players
- Collins Aerospace
- ·Company Overview
- ·Business Strategy
- ·Key Product Offerings
- ·Financial Performance
- ·Key Performance Indicators
- ·Risk Analysis
- ·Recent Development
- ·Regional Presence
- ·SWOT Analysis
- IBM Corporation
- Cisco Systems, Inc.
- Amadeus IT Group SA
- Honeywell International Inc.
- Thales Group
- Daifuku Co., Ltd.
- Huawei Technologies Co. Ltd.
- Sabre Corp.
- Other prominent players
Global Smart Airports market report also contains analysis on:
- Smart Airports Market Segments:
- By Size:
- By Application
- ·Terminal Side
- Smart Airports Market Dynamics
- Smart Airports Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints