Machine Learning and AI to Redefine Airport Information Systems
Technological advancements have played an imperative role in the overall growth of the aviation sector worldwide, thus driving the airport information system market. At present, the advent of novel technologies, including artificial intelligence, machine learning, 4G, 5G, WiFi, Blockchain, IoT, and cloud computing is set to revolutionize the airports around the world and enable the development of ‘smart airports’. Within the aviation sector, real-time management of airport activities remains critical for optimum operational efficiency and enhancing passenger service. Over the past decade, investments toward the development of smart airports have increased at a steady pace and the trend is likely to continue over the forecast period. As airports around the world scramble toward enhancing the passenger experience and customer service, airport information systems have continually come under the radar.
Airport technology continues to evolve at a rapid pace due to exponential rise in the number of passengers and soaring consumer demand for efficient airport management. Airport information systems around the world are expected to get a makeover in the upcoming years, due to advancements in technology and growing interest in the deployment of prefabricated modular data centers and several other innovative concepts in the pipeline. At the back of these factors, the global airport information system market is expected to reach ~US$ 70 Bn by the end of 2020.
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Entry of Robots & Autonomous Vehicles– A Step toward Seamless Passenger Experience
The entry of robots and autonomous vehicles has played an imperative role in revolutionizing operations in the industrial space. In addition, as Industry 4.0 continues to make inroads across the world, the adoption of robots in warehouses, factory floors, and different types of production units have increased at an impressive pace. While advancements in robotic technology continue to make inroads across the industrial sector, robots are increasingly being used in airport terminals around the world. Robots are a common sight across a number of airports in different regions of the world, including Asia Pacific, Europe, and North America to improve customer engagement and boost efficiency.
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The adoption of robots is significantly high at airports in the Asia Pacific region followed by Europe. Robotics is expected to play a pivotal role in redefining baggage handling due to which, autonomous baggage handling carts or baggage robots are currently being tested. Due to giant strides taken by novel technologies such as artificial intelligence and machine learning, modern-day robots are likely to offer accurate information to passengers– a major innovation in the airport information system market that is expected to boost market growth during the forecast period.
While robotics continue to make inroads in the airport information system market, innovations in voice technology have opened up new exciting avenues. Voice technology has gained considerable popularity in recent years. Several airports around the world are inclined toward using voice technology to empower passengers and enhance the overall passenger experience. For instance, in 2018, Heathrow Airport in London enabled passengers to interact with Alexa to gain information regarding their flight status, arrival-departure details, and gate updates. Analysts at Transparency Market Research are of the opinion that voice technology could have a strong impact on improving the overall relationship between passengers and businesses during the forecast period.
Air Travel Declines amid COVID-19 Pandemic
The travel, tourism & logistics sector is arguably one of the most affected industries amid the ongoing COVID-19 pandemic. As governments continue to impose restrictions on transportation and trade, domestic as well as international air travel is likely to take a major hit particularly in 2020. The demand for airport information systems is projected to decline during the COVID-19 pandemic, due to minimal activity in the commercial airline sphere. However, market participants are expected to focus on the development of new airport information system concepts that are likely to enhance passenger experience at airports in the COVID-19-free era. While the growth prospects of airport information system market look grim in the first half of 2020, the market is likely to gradually recover from the short-term slump in the second half of 2020.
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Analysts’ Viewpoint
The global airport information system market is expected to grow at a CAGR of ~7% during the forecast period. The market growth is largely driven by growing urgency to provide a seamless passenger experience, focus on offering accurate travel information, advent of novel technologies, including machine learning and artificial intelligence, and growing adoption of robots and autonomous vehicles at airports in different regions of the world. Companies in the airport information system market should focus on rolling out innovative unified airport information system concepts to gain ground in the current market landscape.
Airport Information System Market – Scope of the Report
A new study on the global airport information system market was published by Transparency Market Research (TMR). It presents a wealth of information on the key market dynamics including the drivers, market trends, and challenges, as well as the structure of the airport information system market. TMR’s study offers valuable information about the airport information system market, to illustrate how growth will discern during the forecast period 2020-2030.
Key indicators of market growth, which include value chain as well as supply chain analysis, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the airport information system market during the forecast period.
An extensive analysis on leading market players’ business strategies is featured in TMR’s study on the airport information system market. This can help readers understand principal factors to foresee growth in the airport information system market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the airport information system market, which will guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Airport Information System Market Study
- What is the scope of growth of airport information system providing companies across the globe?
- What will be the Y-o-Y growth of the airport information system market between 2020 and 2030?
- What is the influence of the changing trends in technologies on the airport information system market?
- Will North America continue to dominate the market for airport information systems?
- Which factors will impede the growth of the airport information system market during the forecast period?
- Which are the leading companies in the global airport information system market?
Research Methodology
A unique research methodology is utilized by TMR to conduct comprehensive research on the growth of the airport information system market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the production of the airport information system market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the airport information system market, as a primary resource.
These primary and secondary resources provided exclusive information during the interviews, which serves as a validation from airport information system industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the airport information system market with accuracy. The study also uses a top-down approach to assess the numbers for each segment, and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the airport information system market more reliable and accurate.