The global airport digitization market to grow at a CAGR of 7.26% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global airport digitization market for 2017-2021. To calculate the market size, the report considers the new installations, shipments, sales, volume, value and retrofit, spares and aftermarket services. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is evolution of mobile-based applications. Smartphones have gained dominance worldwide over the past 4-5 years and will see a steady growth rate with global shipment expected to grow to 1.85 billion in 2020 from close to 1.48 billion in 2016. With this growing smartphone market, developers all around the world, including start-ups, small and medium enterprises (SMEs), and multinational IT companies, have resorted to the development of mobile-based apps. These mobile-based apps incorporate a number of service operations within the airport.
According to the report, one of the major drivers for this market is influence of Big Data. Data about passengers, staff, and operations is growing at an exponential rate. This data can be turned into valuable information and used to improve the operation of aviation businesses by increasing business flexibility while reducing operational risks, and to provide value-added services to passengers. Big Data is helpful in gathering data and converting it into information that can be used to make decisions with respect to the expected passenger or baggage flow in the form of smart passenger guidance and baggage tracking devices.
Further, the report states that one of the major factors hindering the growth of this market is data privacy and protection. One of the most important issues related to the digitization of airports is data privacy and protection. A digitized airport generates several gigabytes of data per second from its baggage system, passenger check-ins, and multiple kiosk boxes.