Global Smart Airport Solution Market Is Anticipated To Garner More Than USD 18 Billion By 2024

By Goldstein Market Intelligence || 2018-02-03 4:05:53 AM

Global Smart Airport Solution Market Is Anticipated To Garner More Than USD 18 Billion By 2024

According to Goldstein Research, “Rising need of smart and advanced security systems in airports are bolstering the growth of global smart airport solutions market”

In recent years aviation industry has witnessed major growth in air passengers and to accommodate them outdated airport system is proved to be insufficient, in order to overcome these challenges airport operators made the huge technological developments in airport infrastructures. By 2018, more than 38% airports will be upgraded by the digital technologies such as automated solutions, check-in kiosks, and smart air traffic control systems among others.

Global Smart Airport Solution Market Outlook 2024

The global smart airport solution market is segmented into services types such as Automated Intelligent Building, Smart Operations Planning, Intelligent Passenger Tracking, Predictive Retailing, Predictive Security, and Seamless Connectivity, Others (Digital Management of Energy etc). Automated intelligent building and predictive security segment are expected to be fastest growing segments in overall global smart airport solution market. Further, intelligent passenger tracking systems such as kiosk check-in, flight tracking real time data are expected to grow at steady rate in upcoming years.

Global smart airport solution market accounted for USD 7.38 billion in 2015 and expected to reach USD 18.76 billion by the end of forecast period i.e. 2024. On account of increasing number of flight passengers and adoption of advanced airport solutions, North America region is inclining towards the adoption of smart airport solutions.

Rising Need to Improve Airports Efficiency: Major Impel

Exponential growth in air passenger traffic has propelled the need to increase the efficiency of airport operations, leading to the adoption of smart technology and solutions. Huge investments for modernization of airports in developing regions are triggering the demand for smart airport solution. Effortless self-service and smart automated processes have emerged as a major trend among the airport authorities, which led to rise in deployment of biometric and advanced security systems at airports.  However, slower adoption rate in emerging economies are expected to hinder growth of smart airport solution market. Likewise, high cost of smart solutions and maintenance of huge connected infrastructure are also some of the growth restraining factor of global smart airport solution market.

Global Smart Airport Solution Market Outlook 2024” contains detailed overview of the global smart airport solution market in terms of market segmentation Product Type, by Power Range.

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. This market report also includes provides competitive outlook of some of the major players of global smart airport solution market which includes profiling of companies such as CISCO Systems, Siemens AG, Honeywell International Inc., SITA, Huawei Technologies Co. Ltd., Raytheon 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 global smart airport solution 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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