The global smart airport market is expected to reach USD 25.09 billion by 2025,growing at a CAGR of 10.7%, according to a new report by Grand View Research, Inc. The growth can be accredited to increased penetration of automated and connected airport processes, such as self-service check-ins, smart baggage drop, and smart luggage tracking.
Moreover, the rising demand for various technologically-advanced non-aeronautical systems, communication systems, and security systems such as electronic bag tags is expected to boost the growth over the forecast period.
Emerging technologies and devices, such as smart access control systems, fingerprint readers, and smart card technology are being increasingly implemented by airports for enhancing the overall passenger experience. Additionally, with the introduction of smartphone-based airport applications, passengers are now able to utilize real-time information, such as gate number, arrival time, direction to airport, check-in line, and flight booking.
Companies across the globe are investing heavily on IT and digital technology to effectively streamline their business processes and provide value-added services to customers. A majority of airports are now focusing on passenger self-service solutions and are planning to implement new technologies, such as the adoption of Bluetooth-enabled beacons to provide connected airport solutions.
Contemporary airport operation and business models have led to an explosive growth of the airline industry. Rising concerns of industry participants pertaining to increased competitiveness have led to a shift in focus towards a customer-centric and data-driven approach to enhance operational efficiency. Moreover, with the emergence of Airport 3.0, airports worldwide are seeking to leverage the benefits of emerging technologies with advanced capabilities.
Airports across emerging economies are increasingly adopting a smart airport approach by implementing innovative technologies, such as smart robots, self-check-in kiosks, beacon services, predictive analysis, and border control automation solutions
Airports are increasingly expanding their airside operations by providing various services, such as in-wallet scanning, and geolocation and coordination of aircraft with real-time information on landing
Airports across developed regions, such as the U.S., have now started providing automated parking facilities, in order to capture a higher revenue share of the non-aeronautical operations segment
Asia-Pacific is estimated to emerge as the fastest-growing region over the forecast period, owing to a steep increase in passenger traffic coupled with upgrading and implementation of new technologies in airport communication and security systems
Major countries across Europe are adopting Bluetooth-based beacon technology to provide a personalized experience to passengers, such as indoor wayfinding and nearby promotional offers, based on data collected regarding the passengers' spending and usage habits
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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