Worldwide Smart
Airports Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
In this report, we
thoroughly examine and analyse the Global market for Smart Airports so that
market participants can improve their business strategy and ensure long-term
success. This report provides players with useful information and suggests
result-based ideas to give them a competitive advantage in the global Smart
Airports industry. It will show how other players compete in the global Smart
Airports market and explain the strategies you use to differentiate yourself
from other participants.
This Research Report
Answers the Following Questions:
·
How Smart
Airports market
will grow in the coming year?
·
Will the COVID-19 pandemic surge the demand for such platforms?
·
How are key companies planning to promote usage of Smart Airports?
·
What are the industry growth drivers, obstacles, and dynamics?
·
Which segment is expected to lead in the coming years?
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The global smart airports
market size was estimated at USD 10.09 billion in 2016 and is anticipated to
reach USD 25.09 billion by 2025, with a CAGR of 10.7%. Initially, traveling by
air was an expensive business and was predominantly used by executive class
business professionals, political leaders, and high-income earners to travel to
places. Only a few companies provided facilities for air transport owing to the
moderately smaller passenger traffic. The major factor responsible for the
expansion of the aviation industry is considered to be the high rate of
globalization.
The global aviation
industry transformed eventually giving rise to a new aviation era of smart
airports. Greater than before air passenger traffic and rising demand for air
travel are the two foremost causes for the revolution in airports all over the
world. In the present scenario, the airports are considered to be service
providers offering new facilities as opposed to the earlier times when they
were known to be infrastructure providers.
A smart airport system
encompasses components, solutions, services and devices which optimize and
powers the utilization of airways infrastructure for implementing advanced
functions. It comprises of various components such as freight operations
information systems, operations, check in and baggage management,
communications, airways analytics, passenger information and reservation
systems, air traffic management, IP-based security monitoring, and ticketing.
The global smart airports
market is evolving as the next big thing of the air travel industry chiefly to
support endways communication & exchange of information and combined
decision making among all shareholders including passengers, aviation
operators, airport authorities, and airports.
Advanced functionalities of
the global smart airports over old-style airports are fueling sturdy market
acceptance such as improved operational competence through on-demand resource
utilization, shared services, real time trouble management & operational
forecasting, smaller queue lengths, crowding management, digital navigation,
efficient water, emissions, waste & energy management, profits generation
by mobile based targeted selling & advertising strategies, capacity
utilization & planning, service delivery automation, better customer’s
travel experience by self-service amenities, service innovations, event
notifications, and more effective and smarter security.
The global smart airports
market is majorly driven due to the growing demand for revolutionizing airports
by converting business intelligence into a facility of innovative software
solutions related to airports. A growth in the global smart airports market is
projected on account of greater than before investments in research &
development. The market has witnessed a strong growth rate in the recent past
owing to the surge in passenger and air traffic, in both developing as well as
developed nations.
Factors such as the launch
of technologically advanced systems and rising demand for real-time information
collaboration and sharing may favorably impact the market growth. The decline
in hardware and connectivity costs also fuels the demand for the global smart
airports market. However, factors such as capacity and congestion constraints,
high costs of up gradation and resource outages may create a major hindrance
for the global smart airports market.
The global smart airports
market is segmented based on technologies into lighting & guidance, airport
communications, digital information display solutions & signage systems,
emergency services & fire protection, car parking systems, landing aids,
ground/air traffic control & management systems, airport management
software, security, and baggage and passenger control and handling. The market
is further segmented on the basis of services into hospitality, parking &
transport services, workplace services, airport processes, retail,
entertainment services, and business to business services. It is also
characterized on the basis of airport modernization programs into airside,
landside and terminal side services.
Europe market for smart
airports accounted for the majority of the overall market in the past few years.
Europe has been benefitted mainly due to the extensive initiatives for airport
automation. Asia Pacific market is expected to witness the fastest growth rate
over the next eight years. Factors responsible for its high growth rate
includes a steady rise in the number of operating airports, increasing demand
for airport information systems, rising adoption of innovative airport
technologies, and enhanced system of baggage handling.
Major industry participants
include Siemens AG, SITA, Amadeus IT Group SA, Indra, QinetiQ, Airport Smart,
Colebrook Bosson Saunders, Honeywell, Airport Emission Control, Delair Air
Traffic Systems, FB Technology, Selex ES, IBM, Cisco System, Adelte,
VanderIande Industries, DSG Systems, Ansul, and Deerns Airport System Consultants.
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