Global Smart Airport Solutions Market Size Expected to Reach US$19.33 Billion by 2024 as IT Spending Across Airports Climbs

Global Smart Airports Market Analysis

This report aims to provide comprehensive strategic analysis of the global smart airports market along with revenue and growth forecasts for the period from 2016 to 2024. Airports are transitioning focus from being infrastructure providers to service providers, thereby focusing on enhancing revenue generation and passenger services. Rising demand for self-service and automated processes are identified as leading factors contributing to the growth of smart airports worldwide. This is further complemented by the growing IT spending on airports across the globe to further enhance passenger experience.

This research study on the global smart airports market provides a detailed analysis of how various infrastructure, solutions, and applications are deployed at airports, transforming them into smart airports. The report offers an in-depth study of market drivers, restraints, and growth opportunities. Using these factors, the report identifies various trends expected to impact the market during the forecast period from 2016 to 2024. It includes a comprehensive coverage of the underlying economic, environmental, and technological factors influencing the smart airports market. It provides the competitive landscape of key players in the smart airports market in order to highlight the state of competition therein.

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Airport operations and business models have evolved dramatically over the last two decades to support the explosive growth of the global airline industry. Regulatory reforms and deregulation has ushered in a new aviation era, globally. Emerging countries are showing dramatic traffic growth, diversity, and choice of airlines. Due to rising competition in the airline sector, airports are becoming more responsive toward the needs of their airline customers and passengers. This is leading to focus on more innovation and efforts toward cost reduction along with generation of various benefits for passengers in terms of increased value and choice. Moreover, the growing penetration of smartphones and tablets is playing a key role in changing the outlook of global smart airports. Effective customer service differentiation and cost reduction are the two main benefits provided by the presence of mobile check-in facilities.

Smart airport infrastructure is segmented into endpoint devices, communication systems, passenger, cargo and baggage ground handling control, air traffic control, security systems and others. In 2015, the security systems segment dominated the market due to several government initiatives in view of rising terrorist attacks leading to security concerns.

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Among the smart airport applications, core applications segment held the largest share of the overall spending on smart airport applications. This is due to tremendous increase in the use of mobile devices to check flight updates, baggage status, and other information. In order to provide such information through mobile notification services, airports as well as airline operators are expected to invest huge amounts in core applications. Moreover, this segment is expected to remain dominant during the forecast period due to high demand for integration application to track, manage, and share accurate, up-to-date information in real-time with all the stakeholders of an airport ecosystem.

Smart airport services include smart transport and parking, smart retail, hospitality, and entertainment, smart workplace, smart airport processes, and smart business-to-business services. Among these, smart business-to-business services for airports was the largest segment of global smart airport services in terms of revenue in 2015. This is due to the rising demand for continuously updating passengers with real-time travel services such as route switching and valet parking.

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