Global Smart Airport Solutions Market
The global Smart Airport solutions market is expected to reach USD 25.09 billion by 2025, at a CAGR of 10.7% during the forecast period 2019-2025. The key driver of the market is amplified penetration of connected and automated airport processes, such as smart baggage drop, self-service check-ins, and smart luggage tracking. Further, technologically advanced systems like communication, non-aeronautical, and security systems such as electronic bag tags will drive the growth. Other than these, smart card technology, smart access control systems, fingerprint readers are being implemented in airports to improve passenger experience.
Also, through usage of smartphone-based airport applications, passengers can check in online, book and cancel flights, check gate number, flight status, arrival time, direction to airport, etc. Vendors are investing heavily in IT to innovate their business process and workflows to provide value added services to customers, thus creating long lasting positive experiences with the brand (airport). With emerging technologies like Internet of Things (IoT), Predictive Analytics, Artificial Intelligence (AI) – airports are providing connected solutions to their passengers.
Through Machine learning – airports are moving from product centric to individual/customer centric environment with deep analysis of customer data and deriving insights into customer behaviour. This further helps in improving operational efficiency by revisiting business processes. US airports started providing automatic parking facilities. Asia Pacific (Japan, China, Singapore, and India) is the fastest growing region due to high passenger traffic and pressing need to embrace new technologies to improve passenger experience. Europe is mostly using Bluetooth-based beacon technology to provide nearby promotional offers to consumers by analysing their spending habits.
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The global smart airport solutions market has been segmented based on technology, application and air side, land side, and terminal side. By technology, the global market is split into Security Systems, Communication Systems, Passenger, Air/Ground Traffic Control and Cargo, & Baggage Ground Handling Control. By application, the global market is split into aeronautical and non-aeronautical operations. By air side, the market is split into Aircraft Maintenance, Air Traffic Management, and Aircraft Parking. By terminal side, the market is split into Baggage Handling, Check-in Systems, and Other Operations. By Landside, the market is split into Advanced Vehicle Parking Solutions, Security, and Smart Marketing Techniques.
By region, the smart airport solutions market is divided into North America (United States, Canada, Mexico), Europe (Germany, France, UK, Italy, Russia, Spain), Asia Pacific (China, Japan, Southeast Asia, India), and Central and South America. Regionally, North America is generating the highest revenue in the smart airport solutions market; Asia pacific will register the highest growth due to China, India where air traffic has been increasing enormously year over year due to the entrance of various global airlines. India ranked 9th in the global aviation industry. China’s passenger traffic for airport has increased by 35% in the last five years.
The Noise Management Segment is Projected to Grow at a Rapid Pace – airports are deploying the noise management programs to monitor noise level to take corrective action. Also, the nonaeronautical segment (application) and cargo and baggage handling segment (by technology) will grow at the fastest rate.
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