The market is projected to register a CAGR of approximately 6% from 2018 to 2023.
The civil aviation industry is booming with a constant rise in the number of passengers traveling by air. The number airlines operating throughout the world has also increased. Hence, airports are under constant pressure to maintain or improve safety, passenger handling, and operations. Therefore, to improve profitability and cater to rising passenger traffic, airports are increasingly using smart solutions such as IoT to achieve operational efficiency and cost reduction.
The global airport Internet of things market has been segmented by technology, application, and region. Based on technology, the market has been segmented into sensing layer technology, network layer technology, and application layer technology. Sensing layer includes sensors, RFID, near-distance wireless communication, self-organizing network, middleware, and embedded systems.
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By region, the global airport Internet of things market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America accounted for the largest market share in 2017 due to investments by the US government in the maintenance and modernization of airports. Moreover, the stringent regulations by the American Association of Airport Executives (AAAE), Airports Council International (ACI), and other associations to enhance aviation safety will positively impact market growth. In 2016, American Airlines spent nearly USD 25 million on easing congestion at various airports in the US. Such developments are expected to fuel market growth.
Europe is one of the key markets for airport IoT due to the development of international airports and increased air traffic in the region. Moreover, the high demand in the UK, France, Russia, and Germany contribute greatly to market growth. The availability of sophisticated technology and focus on research and development are expected to attract investments in airport IoT in the region. Moreover, London City Airport was the first in the world to test how IoT can change operational efficiency and passenger experience.
Asia-Pacific is expected to be the fastest-growing market during the review period. The need to enhance passenger experience is expected to result in rising investments in IoT solutions by airline operators and airports authorities. China dominates the airport IOT market in Asia-Pacific due to companies such as Air China, China Southern Airlines, and China Eastern Airlines investing heavily in the improvement of IoT solutions for airports and airlines in the country. Moreover, these companies are focused on lowering operational costs by incorporating satellite connectivity with IoT solutions.
The market in the Middle East & Africa is expected to register steady growth due to increasing passenger traffic in the region. To cater to the rising number of passengers, airlines are investing heavily in superior in-flight connectivity networks and focusing on reducing fuel consumption, improving aircraft efficiency, and enhancing passenger experience during baggage and security screening.
The key players in the global airport Internet of things market are SITA SA (Switzerland), Huawei Technologies Co. Ltd (China), Accenture (Dublin), Rockwell Collins, Inc. (US), Wind River Systems, Inc. (US), IBM (US), SAP SE (Germany), Amazon Web Services, Inc. (US), Siemens AG (Germany), and Cisco Systems, Inc. (US).
Scope of the Report
This study provides an overview of the global airport Internet of things market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the growth opportunities for the next five years in each region. The scope of the study segments the global airport Internet of things market by technology, application, and region.
• Sensing Layer Technology
• Network Layer Technology
• Application Layer Technology
• Passenger Handling
• North America
• Middle East & Africa
• Latin America