Smart Airport Market – Overview:
The global smart airport market has grown drastically with innovative technologies that have enhanced user experiences. The rise in demand for real-time data is anticipated to drive the market growth, as it help to ease the burden on airport infrastructure and manpower. The key growth drivers include modernization of previous airports, establishment of new airports, development in commercial aviation, and increase in green initiatives by the airports. The aim of constructing a smart airport is to create systems and processes that are digitally equipped and arranged, in terms of process efficiency and connectivity.
A rising trend within the industry is the development and commercialization of recent intelligent technologies that provide a digital ecosystem, such as machine-driven arrival, flight booking management, and baggage and document checks to the passengers. Airports across the globe are progressively adopting technology-enabled devices, such as smart baggage system and on-site application of Internet of Things (LoT) to transform customer experiences. Moreover, development of queue management systems that utilize existing CCTV systems and predict the waiting time in arrival areas, security checkpoints, taxi lanes, and passport management will help to locate the passenger in less time. Queue management system counts the number of passengers captured within the CCTV cameras, calculate the waiting time, and predict the time spent by a traveler in a queue.
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Major Key Players
Honeywell Corporation Inc (U.S.),
Rockwell Collins, Inc. (U.S.),
IBM Corporation (U.S.),
Cisco Systems Inc. (U.S.),
Siemens AG (Germany),
Larsen & Toubro (India), and Amadeus IT Group SA (Spain).
The smart airport market is estimated to grow at a CAGR of more than 12% during the forecast period of 2017-2023. This estimation of a CAGR is due to the rise in usage of digital technologies worldwide, aircraft companies are more focusing towards the digital transformation to enhance personal experience of the passengers.
At present, airports are accumulating traveler data to provide various added advantage to passengers, such as data regarding the nearest retail locations, live updates on flight status, traffic and parking updates, guidance for arrival and baggage drop, directions for immigration check, and live updates on bus and taxi transportation services.
The various application varieties analyzed, within the report, embrace aeronautical and non-aeronautical operations. The non-aeronautical segment is expected to witness important growth throughout the forecast period. Services such as retail outlets, advertising, smart parking, Wi-Fi, restaurants, lounge access, and personalized services are driving the growth in non-aeronautical applications.
Airports, worldwide, have started diversifying their financial gain and are spending huge amount to implement non-aeronautical operations, such as providing parking facilities, lounges, conference rooms, and boarding and lodging facilities. Airports are currently focusing their efforts on traveler satisfaction and have started providing various facilities, such as providing personalized data relating to retail showrooms and related offers, by analyzing the precise habits and wishes of previous visited passengers, so as to make customized user expertise for the new passengers.
The segment, terminal side is predicted to emerge as the largest section during the forecast period. Terminal side updated information is provide to the traveler on their smartphones so as to know the landing field kiosks. It also involves devices that provide location services and alerts for guiding traveler to their terminals and gates with personalized retail and hospitality offerings.
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