According to Goldstein Research, “Rising air passenger traffic and emerging technologies and devices such as smart access control systems, Check-in Kiosk and smart card technology are being increasingly implemented by airport operators for enhancing the overall passenger experience is expected to boost the growth over the forecast period.” Moreover, with the introduction of smartphone-based airport applications, passengers are now able to utilize real-time information, such as gate number, arrival time, check-in line, and flight booking.
Asia Pacific Smart Airport Market Outlook 2024
The Asia Pacific smart airport market is segmented based on solutions, by applications and by services. Solutions segment is further bifurcated into air traffic management, baggage management, security management, passenger management, mobility and information technology.
The APAC smart airport market accounted for USD 3.8 billion in 2016 and expected to reach USD 6.7 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at compound annual growth rate of 7.3% over the forecast period i.e. 2016-2024.
On account of growing air passengers and adoption of advance smart airport solutions Asia Pacific accounted for the fastest growing smart airport market. On the basis of IT expenditures for the development of airports emerging countries such China and India holds the fastest growth rate and provides high potential market for the market players. China is expected to dominate the APAC smart airport market followed by India due to large number of airports in the in these countries with significant growth in tourism industry.
Non-Aeronautical Solutions: Opportunity
Non-aeronautical revenue from smart parking, retail, advertising and food & beverage has been an important component of an airport’s revenue source for decades. Within the airport terminals, growing reliance on non-aeronautical revenues puts pressure on airport operators to remove operational inefficiencies and to invest in the digital transformation of the airport infrastructure. As airports will evolve from pure transit points to customer centric organization, the focus will gradually shifts to improve overall passenger experience.
“Asia Pacific Smart Airport Market Outlook 2024” contains detailed overview of the Asia Pacific smart airport market in terms of market segmentation by solution type, by application type and by service type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Asia Pacific Smart Airport Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Honeywell Corporation Inc., Rockwell Collins Inc., SITA, Siemens AG, IBM Corporation, CISCO Systems etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the Asia Pacific smart airport market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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