London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global smart airports market 2015-2019, which is expected to grow at a CAGR of 5.74% during the forecast period of 2014-2019.
“Smart airport systems can reduce the time required for security checks by reducing the boarding time of passengers. With the emergence of interconnected devices, the estimated processing time for a stage can be tracked. This will help in planning and execution at every stage,” says Faisal Ghaus, Vice President of Technavio.
Airports are increasingly adopting cloud-based services to ensure a centralized, searchable repository of historical data that can be used by employees irrespective of geography and time zone. Cloud-based services ensure a low cost of ownership along with improved methods of managing the complexities involved with large volumes of data.
Key Market Drivers
- Decline in hardware and connectivity costs
- Decreased passenger-processing time
- Government initiatives
Key Market Trends
- Interconnected devices
- Increased adoption of cloud-based services
- Need for cost-efficient solutions
Key Market Vendors
- Amadeus
- IBM
- Siemens
- Honeywell International
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Smart Airports Market 2015-2019, please send an e-mail to media@TechNavio.com.
Follow us on Twitter @ Technavio
Like us on Facebook
Follow us LinkedIn
Connect with us on Google+
