“Global Smart Airports Market, By Technology Type (Security Systems, Communication systems, Passenger, Cargo & Baggage Handling Control, Air/Ground Traffic Control, Endpoint Devices, Others), By Solution (Airside, Terminal Side, Land Side), By Solution Application (Aeronautical Operations, Non-Aeronautical Operations), as well as by Region – Global Forecast 2021 to 2029.”, which offers a comprehensive view of the Global Smart Airports Market through systematic segmentation that encompasses every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this sector is projected to be over $20,397.4 Mn, and is estimated to increase significantly over the latter part of the forecast period.
Smart airports are airports that can provide real-time information through SMS services, offer check-ins via self-service kiosks, and facilitate automated baggage handling. They engage with passengers to provide real-time notifications via social media and other communication forums through personal devices.
As a direct result of heightened levels of globalization being experienced around the world, there has been a steady increase in the number of individuals travelling both to domestic and international destinations. This has led to various transit authorities to revamp existing airport infrastructures in order to be able to cater to these individuals. Moreover, the surging costs levied on airport authorities due to high energy consumption levels. This is another reason why renovations are being planned or carried out at these facilities. Adversely, the task of collecting data related to the numerous passengers that are expected to utilize airports, as well as the restrictive circumstances that may arise as a result of attempting to cater to all passengers owing to varying preferences that these individuals that they may or may not have is a factor that could potentially restrain the revenue growth of the Global Smart Airports Market. However, the incorporation of advanced devices at these ports of entry/exit, as well as the usage of innovative technologies such as artificial intelligence, etc., are some of the other major factors that are slated to boost the increased adoption of smart airports. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Smart Airports Market to $29,354.6 Mn by 2029, at a CAGR of 9.7%.
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