Airport IoT Market by Revenue, Growth Rate and Forecast to 2025

Posted by Monica nerkar on October 23rd, 2019

IoT ahs found core application in the aviation industry. It is used for almost all activities from passenger handling to security. Market Research Future (MRFR) observes that the global airport IoT market is anticipated to register a moderate CAGR across the forecast period 2019 to 2025. Rising adoption of innovative technologies for operational activities in airports all over the world is likely to take charge of the growth of the market in the upcoming years.

Increasing number of airports in developing economies to increase connectivity is expected to revolutionize the growth pattern of the airport IoT market over the assessment period. In addition, the investments in the modernization of existing airports are also projected to lead the expansion of the airport IoT market over the next few years. Moreover, the rising air traffic is also expected to catapult the global market on growth trajectory.

Market Segmentation:

By airport type, the segments of the global airport IoT market include cargo airport, commercial airport, and general airport. Among these, the commercial airport segment is anticipated to account for the most substantial share of the global market. In addition, the segment is also anticipated to mark a relatively higher CAGR across the review period.

On the basis of application, the key segments of the airport IoT market profiled in this MRFR study are operations, passenger handling, and security. The passenger handling segment is projected to lead the growth of the market over the next few years, reflecting the highest CAGR between 2019 and 2025. Factors such as increasing need for security in airports, demand for the reduction of congestion of airports, etc. are prognosticated to drive the segment’s proliferation across the evaluation period.

Based on technology, the global airport IoT market has been segmented into network layer technology, sensing layer technology, and application layer technology. Among these, the network layer technology segment held the leading position in 2018 and is projected to mark a higher CAGR across the forecast period.

Regional Analysis:

The global airport IoT market, on the basis of region, has been segmented into - Latin America, North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and Europe. These regional segments are further narrowed down to a country-level basis. North America held the largest share of the global market in 2018. It is anticipated to retain substantial market share over the next few years. Increasing investments in the modernization of airports are likely to drive the growth of the regional segment in the forthcoming years. Asia Pacific, on the other side, is prognosticated to register the highest CAGR over the review period. Increasing investments in the establishment of new airports are anticipated to boost market proliferation in the region.

Competitive Dashboard:

Amadeus IT Group (Spain), Honeywell International Inc (US), Cisco Systems, Inc. (US), Huawei Technologies Co., Ltd (China), Microsoft Corporation (US), IBM Corporation (US), SAP SE (Germany), Siemens AG (Germany), Collins Aerospace (US), SITAONAIR (Switzerland), Accenture (US),  Wind River Systems, Inc. (US), and Amazon Web Services, Inc. (US) are few of the major service providers of the global airport IoT market. These players are expected to invest in the expansion of their technological capabilities to strengthen their positions in the global market place. These players are also likely to invest in research & development for product innovations, which is expected to accelerate competitiveness in the global airport IoT market over the next couple of years. Some of the organic and inorganic growth approaches to be used by the market participants in the upcoming years for staying ahead of the curve are mergers & acquisitions, product launches, collaborations, technological innovations, partnerships, etc.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/airport-iot-market-6722