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Airport Information System Market - The Rising Demand For Automated and Self-Service Processes and Increasing IT Spending On Airports
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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.
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.
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.
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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.
The information presented is based on the findings of a TMR report, titled “Airport Information System Market (Operation - Airside and Terminal Side; Airport Category - Commercial Service Airport, Cargo Service Airport, and Reliever Airport; Solution - FIDS, Resource Management Solutions, P.A. System, Baggage Processing, Passenger Processing, Airport Operations, Airport Information, and AODB) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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