Press release
Airport Information System Market: Demand for Efficient Passenger Movement at Airports Necessitate Adoption
Key companies having presence in the global airport information system market include SITA, Rockwell Collins Inc., Amadeus IT Group SA, and Siemens Postal, Parcel & Airport Logistics, Resa S.A.S., and Velatia S.L.
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According to the TMR report, the global airport information system market is predicted to attain a value of US$46,950.6 mn by 2024 end, rising at a CAGR of 7.2% between 2016 and 2024. By solution type, the segment of baggage processing currently leads the market and is likely to continue to remain at the fore. However, flight information and passenger processing segments are predicted to expand at a faster growth rate between 2016 and 2024. By geography, North America currently leads the airport information system market; the region held nearly 30% of the overall market in 2016. However, Asia Pacific is predicted to outdo in terms of growth rate between 2016 and 2024. The growth of this market is mainly because of a booming IT industry in India and China.
Airport Construction and Airport Refurbishment Activities to Bolster Demand
Firstly, the rising volume of air traffic for business and leisure over the past few decades is the key growth driver of airport information system market. The need for efficient operations at airport, especially large ones, in terms of passenger movement, baggage handling, and flight information amidst high pressure of handling large volume of passengers and large number of flights every day is driving the airport information systems market. Both government agencies and private companies are undertaking airport construction and airport refurbishment projects thereby driving the demand for airport information systems. Advanced IT solutions are effective for display of crucial information related to change of flight arrival/departure gate, passenger announcements, flight delay, and baggage retrieval among others needed for efficient operations at airports.
Need for Failsafe Peripherals Challenges Growth
On the downside, there are a few challenges impeding the growth of airport information system market. High cost of advanced airport information systems, along with high cost of running, maintenance of these systems is limiting their adoption for large airports that handle several thousand passengers every year.
Moreover, airport information systems need to be supported with continuous high speed connectivity, hi-tech electronic devices, digitally compliant airport infrastructure, and other supporting devices. The need to maintain security, reliability, and robustness of supporting devices adds up to the overhead cost of deploying airport information systems. This is posing as a challenge to the growth of airport information system market.
Report TOC: https://www.transparencymarketresearch.com/report-toc/7670
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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