The
global
market for smart airport
is
at a developing stage and is estimated to grow at a healthy growth
rate in the next few years. Thanks to this, the market is expecting
an entry of a few players, which is likely to result in a high
competition among the key players in the next few years, states a new
market research report by Transparency Market Research. Some of the
major players operating in the smart airport market across the globe
are Amadeus IT Group SA, Thales Group, CISCO System, Inc., IBM
Corporation, Lufthansa Systems GmbH & Co. KG. RESA, S.A.S.,
Siemens AG, Honeywell International, Inc., Vision-Box, and SITA. The
increasing focus on innovations and research and development
activities is likely to accelerate the overall growth of the market
in the next few years.
According to the market study by
Transparency Market Research, the global market for smart airport is
expected to register a promising 13.0% CAGR between 2018 and 2026.
North
America to Dominate Global Smart Airport Market in Near Future
The global smart airport market
has been classified on the basis of geography into the Middle East
and Africa, Latin America, Europe, North America, and Asia Pacific.
As per the research study, North America is projected to account for
a large share of the overall market in the next few years. The high
growth of this region can be attributed to the increasing number of
improvements in the current services and solutions. In addition to
this, the presence of a large number of players is another key factor
that is likely to accelerate the growth of this region in the near
future. Furthermore, Asia Pacific is projected to register a fast
growth rate in the coming years, thanks to the favorable government
initiatives for the implementation of the advanced solutions at the
airports. The growing demand for automated processes at airports in
several emerging economies is predicted to enhance the growth of the
smart airport market in the near future.
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The global market for smart
airport market has been further segmented on the basis of
infrastructure into communication systems, cargo and baggage
handling, endpoint devices, air traffic control systems, passengers,
and security systems. Among these, the security systems segment is
expected to lead the market with a major share of the global smart
airport market. The increasing demand for biometric devices by
airports for the purpose of checking and identification processes is
considered as one of the key factors estimated to enhance the growth
of this segment in the near future.
Increasing Trend of
Personalized Services to Accelerate Market Growth
The rising number of smartphone
users across the globe is one of the major factors that is expected
to encourage the growth of the global smart airport market in the
next few years. The rising needs for the real-time information is
another key factor that is estimated to accelerate the growth of the
market in the near future. In addition to this, the growing focus of
the key players on the customer-centric approach and the growing use
of self-service technologies at the airports are further projected to
enhance the growth of the smart airport market in the coming few
years.
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