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The latest report by IMARC Group, titled“Smart Airport Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” provides an extensive analysis of the industry, including smart airport market report . The report also covers competitor and regional analysis and the latest advancements in the global market.
The global smart airport market size reached US$ 33.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 77.0 Billion by 2032, exhibiting a growth rate (CAGR) of 9.3% during 2024-2032.
Factors Affecting the Growth of the Smart Airport Industry:
Passenger Experience Enhancement:
The growth of the smart airport market is fueled by a focus on enhancing the passenger experience. Airports are investing in smart technologies such as biometric authentication, self-service kiosks, and mobile apps to streamline check-in, security, and boarding processes. These innovations reduce waiting times, enhance efficiency, and contribute to an overall positive travel experience, thereby driving the adoption of smart airport solutions.
Operational Efficiency and Cost Savings:
The drive for operational efficiency and cost savings is a key factor propelling the smart airport market. Automation and IoT-enabled systems optimize various airport operations, including baggage handling, aircraft turnaround times, and resource management. By integrating smart technologies, airports can improve overall efficiency, reduce operational costs, and enhance resource utilization, providing a compelling business case for the implementation of smart solutions.
Increasing Air Traffic and Infrastructure Development:
The growth in air travel and the ongoing development of airport infrastructure globally are driving the demand for smart airport solutions. Rising passenger numbers and the need to manage complex airport ecosystems efficiently have led to increased investments in smart technologies. From advanced baggage tracking systems to smart air traffic management, airports are adopting these solutions to accommodate growing air traffic and ensure seamless, secure, and efficient operations. The continuous expansion and modernization of airport infrastructure contribute significantly to the growth of the smart airport market.
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Global Smart Airport Market Trends:
A prevailing trend in the smart airport market is the increasing integration of Artificial Intelligence (AI) and data analytics. Airports are leveraging AI to enhance predictive maintenance, optimize resource allocation, and improve security measures. Machine learning algorithms analyze vast datasets to predict potential operational issues, allowing proactive responses and minimizing disruptions. Additionally, data analytics play a pivotal role in optimizing passenger flow, baggage handling, and overall airport operations, contributing to a seamless travel experience.
Another significant trend is the implementation of sustainable and eco-friendly solutions within smart airports. As environmental concerns grow, airports are adopting smart technologies to minimize energy consumption, reduce emissions, and enhance overall sustainability. From energy-efficient buildings to eco-friendly ground transportation systems, the integration of smart and sustainable practices aligns with global initiatives for greener aviation and reflects a conscientious approach towards environmental responsibility in airport operations.
Key Players in the Smart Airport Industry:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
Amadeus IT Group SA Ascent Technology Inc. Cisco Systems Inc. Collins Aerospace (Raytheon Technologies Corporation) Honeywell International Inc. Huawei Technologies Co. Ltd. Indra Sistemas S.A. International Business Machines Corporation Sabre Corp. Siemens AG T-Systems International GmbH Wipro Limited
Smart Airport Market Report Segmentation:
By Type:
Airport 2.0 Airport 3.0 Airport 4.0
Airport 3.0 dominates the market as it emphasizes passenger experience by leveraging technology to streamline processes, reduce wait times, and offer personalized services.
By Size:
Large hold the largest share in the market as large airports have more substantial budgets and resources compared to smaller airports.
By System:
Wearables LPWAN and WLAN Tags and Sensors Platforms NFC, RFID and Bluetooth Wireless Others
Based on the system, the market has been divided into wearables, LPWAN and WLAN, tags and sensors, platforms, NFC, RFID, and Bluetooth, wireless, and others.
By Operation:
Aeronautical Non-Aeronautical
Non-aeronautical holds the largest share in the market as they encompass activities, such as retail, dining, parking, advertising, and more.
By End Market:
Implementation Upgrade and Services
Upgrade and services hold the largest share of the market as they allow airports to implement smart solutions in a phased manner, which minimizes disruption to airport operations.
By Application:
Airside Air Traffic Maintenance Aircraft Maintenance Passenger Screening and Experience Digital Video Surveillance and Management Building Management Intelligent Advertising Others
Airside holds the largest share in the market as it is critical for the timely departure and arrival of flights.
Breakup by Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America's dominance in the market is due to the presence of numerous international airports in the region.
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