Smart Airports Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 08/30/2017 -- A new market report has been published by Transparency Market Research entitled "Smart Airports Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024." According to the report, the global smart airport solutions market was valued at US$7.56 bn in 2015 and is expected to expand at a CAGR of 10.8% from 2016 to 2024, reaching US$19.33 bn by the end of the forecast period (2016-2024).
Browse the full Smart Airports Market (Infrastructure - Endpoint Devices, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air Traffic Control, Security Systems and Others; Solutions - Terminal Side, Airside, and Land Side; Applications - Core Application; Services - Smart Transport and Parking, Smart Retail, Hospitality, and Entertainment, Smart Workplace, Smart Airport Processes, and Smart Business-to-Business Services) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024 report at http://www.transparencymarketresearch.com/smart-airports.html
The rising demand for automated and self-service processes is currently the major factor bolstering the demand for smart airports globally. During the recent years, there has been high growth in the number of self-service solutions at the airports including bag recovery, check-in, and flight rebooking. The market's growth is also gaining traction with an increased level of passenger traffic and growing level of IT spending across airports. Rising IT spending on airports can be construed as increasing investment by companies to lower their operating expenditure (OPEX) and to deploy modern technologies such as wireless connectivity, automated solutions, and check-in kiosks. However, the high initial investment required for high connectivity and robust infrastructure is among the key factors restraining the market's growth during the forecast period.
The global smart airport infrastructure is classified into endpoint devices; communication systems; passenger, cargo, and baggage handling, air traffic control systems; security systems; and others. Endpoint devices are further segmented into sensors, tags, IP phones, and video conferencing. Communication systems for smart airports infrastructure are further categorized into wireless airports, smartphones and tablets, near field communication (NFC), and social media. The passenger, cargo, and baggage handling segment of smart airports infrastructure is classified into IoT-enabled beacons, robots for passenger and baggage movement, common-use self-service (CUSS) kiosks, RFID baggage reconciliation systems, and e-gates. The air traffic control systems segment is further segmented into smart systems & scalable air traffic management solutions (ATM), and automated passport controls. The security systems segment is further divided into biometrics, alerts and cyber security, and e-fence & ground surveillance radar and e-tag systems. The others segment for smart airports infrastructure includes navigational, landing aids, digital signage, and airport management software. In 2015, the global smart airports infrastructure revenue was majorly contributed by the security systems segment, which accounted for approximately 49% of the total revenue. On the other hand, the passenger, cargo, and baggage handling systems segment is projected to rise the fastest with a CAGR of 23.9% during the forecast period.
The global smart airports solutions market is segmented into terminal side, airside, and landside. The terminal side solutions for smart airports infrastructure is further segmented into heating, ventilation, and air conditioning (HVAC), lighting control, digital video surveillance and management (DVM), fire and life safety solutions, energy management, lifecycle services, and building management and automation systems. Airside solutions is classified into advanced visual docking guidance system (A-VDGS), airfield ground lighting (AGL), surface movement guidance, runway improvement and apron management, digital and radar video surveillance. Landside solutions is segmented into parking, access roads, perimeter security, car rental, mass transit, and airport city. In 2015, landside solutions was the leading segment of the global smart airports solutions market, holding approximately 46% of the revenue. The terminal side solutions segment is projected to witness a CAGR of 14.8% during the forecast period. The growth of the terminal side segment is seen to be driven by rising demand for digital video surveillance and management solutions by airports for enhancements in the security and productivity at the workplace.
The global smart airport applications market is segmented into core and business applications. The core application segment is further classified into content management, business intelligence, next-generation web, collaboration, and integration. The business applications segment is categorized into noise abatement, fee management, performance management, and gate management. The core applications segment is predicted to expand the fastest at a CAGR of 18.4% during the forecast period. This is due to a rise in the use of mobile devices to check baggage status, flight updates, and other information. In order to provide such information through mobile notification services, both airports and airline operators are expected to invest huge amounts in core applications.
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The global smart airports services is classified into smart transport and parking services, smart retail, hospitality, and entertainment services, smart workplace services, smart airport processes and smart business-to-business services. Smart transport and parking services for smart airports is categorized into real-time travel services, intelligent transport services, and trip concierge. Smart retail, hospitality, and entertainment services is further classified into passenger-specific retail and hospitality, intelligent advertising, lean retail solutions, and telepresence rooms. Smart workplace services include equipment telematics solutions and mobile worker and expert locator. Smart airport processes covers location-based services, RFID baggage tagging, and no-queue check-in solutions. Smart business-to-business services is classified into traffic and facilities management, smart supply-chain and maintenance, repair and operations (MRO) services. Smart business-to-business services for airports was the largest segment in global smart airports market by services in 2015. This is owing to the rising demand for continuously providing passengers with upgrades of the real-time travel services such as route switching and valet parking.