Press release
Airport Information System Market - Baggage Processing Systems to Continue to Hold Dominant Chunk in Revenues
Some of the major players of the global airport information system market are Amadeus IT Group SA, Parcel & Airport Logistics, Siemens Postal, Rockwell Collins, Inc., and Lufthansa Systems GmbH & Co. KG. and SITA. The market is distinguished by the presence of both small as well as large players which makes the environment very competitive.
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As per the TMR report, the global airport information system market is presumed to earn US$46.9 bn by the end of 2024. The market is estimated to expand with a CAGR of 7.2% within the forecast period of 2016 to 2024. As per 2015 records, the market was worth US$25.1 bn. On the basis of solution types, the market is anticipated to be dominated by baggage processing solutions and is likely to remain so in the coming years.
The market for airport information system is mainly dominated by the regions of Asia Pacific, Middle East and Africa, North America, South America, and Europe. North America is seen to be dominating the market at present followed by Europe. This is due to the extensive airway usage for both international as well as national tours. On the other hand, Asia Pacific is likely to outshine both the European as well as North American market due to the rapid increase in the number of air passengers in the region.
The rise in air traffic volume for both business and leisure purpose is among the main factors boosting growth of the overall market. There is the need for various operations in the airport in terms of passenger movement, baggage handling, passenger information and flight information. In terms of bigger airports, the need for the same increases.
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Information Technology is also being used for displaying important information regarding flight departure and arrival gate, flight delay, passenger announcements, and retrieving of baggage along with other such factors demand efficient need at the airport. Innumerable number of flights carrying uncountable number of passengers every day is fuelling the
Although there are lot of growth opportunities in the market, factors like high price of advanced airport information systems and their higher running cost may act as a hindrance in the market in the long run. Besides that, system maintenance is also a crucial factor to retrain the market as they might limit their adoption in terms of large airports as handling thousands of passengers on a daily basis annually will be a difficult task for their smaller counterparts.
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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