SecurityWorldMarket

04/03/2020

Smart airport market takes off with increased connectivity

Northbrook, Il

The latest information from Marketsandmarkets on the smart airports market to 2020 shows that the sector is projected to reach USD 6.4 billion by 2025 from USD 2.2 billion in 2019, registering a CAGR of 19.8% from 2019 to 2025. Improved passenger experience with the help of real-time information is a significant growth driver for the smart airports market, and optimisation of airport operations and increased connectivity also drive this market.

Increasing demand for self-service check-ins and baggage drop units around the world has given rise to the service segment of this sector.  The researchers find that the increasing demand has led to the implementation of smart applications on greenfield projects and, as a part of modernisation, upgrades on brownfield airport projects. During the forecast period, the implementation segment is estimated to have a larger share due to the rapid modernisation of airports. With an increase in passenger footfall, airports need to upgrade their systems to facilitate smooth airport operations without delay. They also need to adopt efficient measures that improve their operational efficiency as well as save costs.

The landside application segment of the smart airports market is expected to grow at the highest rate during the forecast period. The focus of airports to increase their ancillary revenues and the increasing demand from passengers for seamless and effortless travel are driving the growth of this segment. The growing installation of smart applications like intelligent advertising and smart car parking is expected to drive the landside segment’s growth. The airside segment currently has the largest market share due to the high adoption of smart applications in ground staff equipment management and installation of E-fence.

In terms of geography, North America is projected to lead the smart airports market during the forecast period.  For the purposes of the report, the US and Canada are the countries considered for the study of the smart airports market in North America. North America accounted for 28.0% of the smart airports market in 2019, with the US leading the market in the region. The global need for optimising operations at airports is fuelling investments in the areas of smart applications. Implementation of IoT, AI, and big data in airport operations has the potential to bring greater visibility, besides optimising the business process. Keeping in mind the current passenger growth rate as well as the increase in fleet size of airlines, airports are required to make data-driven decisions by leveraging new technologies, such as IoT, AI, and Blockchain.

The presence of major airports in the US has resulted in high investments in the field of smart airports in North America. This makes North America one of the prime regions for the implementation of smart applications at airports. And, according to Marketsandmarkets the leading smart solution providers in North America include Cisco, IBM, Collins Aerospace, Honeywell, and Sabre.


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