Airport Management Market Research Report: by Component (Software and Services), Airport Size (Class A, Class B, Class C, and Class D), Application (Security, Content Management, Logistics, Integration, Collaboration, Gate Management, Performance Management, Business Applications, Others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2027 By MRFR
In this rapidly changing world of technology, airport management market is projected to show major growth prospects during the forecast period. Major factor driving the airport management market is the increasing adoption of self service solutions at airports in order to enhance customer experience. Growing demand for automated and self-service applications is one major factor fueling the growth of airport management market.
The global airport management market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the airport management market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of airport management market.
This is owing to the presence of large number of established key players investing into the airport management market like IBM Corporation and Cisco Systems in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. This is expected to be a major factor for the growth of airport management market. Technological advancements in the management field is another major factor driving the growth of airport management market in the region.
The airport management market is growing rapidly over 10% of CAGR and is expected to reach at approx. USD 15.5 Billion by the end of forecast period.
Airport Management Market Segmentation
The airport management market has been segmented on the basis of display component, airport size and application. The component segment is bifurcated into software and services. The software segment is further bifurcated into passenger systems and non-passenger systems. Out of which, the passenger systems sub segment enables proper maintaining of data about the passengers and providing them with better travel experience.
The prominent players in the Airport Management market are – IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Siemens AG (Germany), Honeywell International Inc. (U.S.), Raytheon (U.S.), QinetiQ (U.K.), Amadeus IT Group (Spain), SITA (Switzerland), Rockwell Collins, Inc. (U.S.), Inform GmbH (Germany) among others.
Market Research Analysis:
It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in airport management market in North America is attributed to technical advancements and increasing use of mobile devices, tablets and smartphones in that region. The major factor driving the growth of airport management market in North America region is the increasing need for automated and self-service processes.
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