Smart Airports Market by Application (Landside, Terminal-Side and airside application), Technology (Security System, Communication System, Air / Ground Traffic Control, Passenger, Baggage & Cargo System and Other Technologies) & by Geography
NEW YORK, Oct. 20, 2014 /PRNewswire/ -- The smart airports market is estimated to be at $9,718.07 million in 2014, and is expected to register a CAGR of 5.61%, to reach $13,481.17 million by 2020.
The report provides market analysis of the smart airports market over the next five years. It considers drivers, challenges, restraints, and burning issues that impact the industry. It also discusses the industrial value-chain, Porter's Five Force model and technology trends prevalent in the smart airports market.
It tracks, analyses, and lays out the market size of major aviation spenders in each region. It also analyses the market size by technology, application, and geography.
The report provides information about leading competitors in the smart airports market; it also offers details on their financial positions, key products, their unique selling points, and key developments. This research report categorizes the market on the basis of airport application, technology, regions, and by countries, along with forecasting revenues, market share, and analyzing trends in each of the sub-sectors.
All the percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been viewed in extensive detail, verified through primary research, and analysed to procure the final quantitative and qualitative data. This data has been consolidated and added with detailed inputs and analysis from MarketsandMarkets, and is presented in this report.
The percentage split-ups of the segments categorized under the market have been used to arrive at the market sizes of each of the individual segments. Thus, data has been triangulated among four major categories based on their market sizes by application, technology, geography, and company revenue.
When it comes to spending IT budgets, airports are putting passengers first. According to a SITA survey, improving passenger experience remains the single most important driving force for IT investment for 68% of the airports, with reducing the cost of business operations coming in second at 39%. Over half of airports have major programs related to self-service and passenger mobile apps. In addition, two-thirds of airports have major infrastructure programs to deploy common-use systems for passengers, such as kiosks and implementation of Wi-Fi, which is focussed towards enhancing passenger satisfaction.
Deployment of technology has increased the IT revenue, as airports investment has increased to 5.43% in 2013 from 4.19% in 2010. These changes in investment address the capacity and passenger growth challenges. Airports have been progressing towards technically advanced software and systems for the building operations, where information can be accessed and shared across platforms. Airport building operations play an important role in developing or modernizing the smart airport building solutions. Currently, the smart airport building operations market is estimated at $1,704 million in 2014 and it is estimated to grow at CAGR of 5.82% to reach $2,392.85 million by 2020.
Under the scope of airport perspective, airport operators face challenging trading and operational conditions. This has been continuing over the past years, but the scenario has changed now, with the better technologies in the smart airports market.
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