Airport IOT Market Size was valued at USD 6.2 billion in 2022. The airport IoT market is projected to grow to USD 38.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.5% during the forecast period (2022 - 2032).
Airlines are successfully realigning their business models, while airplane manufacturers are launching new fleets that can carry more passengers at lower costs. This has led to the need for innovative airport operating technologies such as the Internet of Things (IoT), which is a computing concept where physical objects are connected to the Internet. IoT can transform the aviation industry by offering a seamless travel experience and enhancing operational efficiency. IoT has the potential to streamline operations that cannot be controlled individually and, thus, help ease the burden on airport infrastructure and workforce. Several airport facilities are connected to optimize and control airport operations such as digital marketing and signage, live information sharing, remote sensors for monitoring runway or environmental conditions, and IP cameras. Digital IoT beacons are strategically placed throughout the airport that can make navigation more manageable and less frustrating. The beacons use Bluetooth geolocation, which can provide real-time information on parking availability, airport schedules, shopping stores, and other information. By using advanced biometric systems, any person entering an airport can be identified. The implementation of airport IoT technologies offers a higher standard for customer care and overall performance. Linking each device in an airport through a robust cellular network allows airport operators to conduct in-depth data collection and performance tracking for improved operations and helps to provide better statistical summaries for airport management. The increasing need for integrating multiple systems in airports is primarily driving the growth of the market. The integration of systems helps provide flexibility in operations and proactive service delivery at airports. Moreover, an increasing number of passengers is expected to drive market growth in the near future.
SITA has partnered with Microsoft to develop a new cloud-based platform for airport operations. The platform will use Azure IoT to collect and analyze data from sensors throughout the airport, and will use machine learning to improve efficiency and passenger experience.
Air France-KLM has launched a pilot program to use blockchain technology to track baggage. The program will use sensors to track baggage throughout its journey, and will use blockchain to create a secure and tamper-proof record of its location.
Based on airport type, the market has been segmented into a commercial airport, cargo airport, and general airport. The commercial airport segment accounted for the largest market share in 2021 and is expected to witness the highest CAGR during the forecast period from 2022 to 2032. Increasing air passenger traffic and growing development of airport infrastructure are driving the growth of the segment Based on technology, the market has been segregated into sensing layer technology, network layer technology, and application layer technology. Network layer technology segment accounted for the largest market share in 2021 and is expected to grow at the highest CAGR during the forecast period. Networking technologies allow IoT devices to communicate with other devices as well as with applications and services on the cloud. Based on application, the market has been divided into passenger handling, security, and operations. The passenger handling segment dominated the market in 2021 and is expected to witness the highest CAGR during the forecast period from 2022 to 2030. Development of passenger management systems, growing need for security, and reduction of congestion of airports are driving the growth of the segment. Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is estimated to acquire the most significant market share in 2018. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period from 2022 to 2032. Factors such as the increasing air passenger traffic and rising adoption of IoT technologies by airports at developing countries such as China and India are driving the airport IoT market in the region. For instance, in February 2019, Bangalore International Airport Limited (BIAL) planned to implement Digi Yatra biometric boarding system at Kempegowda International Airport. Hence, the growing adoption of IoT technologies at airports to offer enhanced safety and travel experience to the passenger is driving the market growth in the region.
Intended Audience of Airport IOT Market
The key players in the global airport IoT market are Amadeus IT Group (Spain), Cisco Systems, Inc. (US), Honeywell International Inc (US), Huawei Technologies Co., Ltd (China), IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Collins Aerospace (US), Siemens AG (Germany), SITAONAIR (Switzerland), Wind River Systems, Inc. (US), Accenture (US), and Amazon Web Services, Inc. (US).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Airport IOT Market Highlights:
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
