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Smart Airport Market Size
- Report ID: GMI7571
- Published Date: Dec 2023
- Report Format: PDF
Smart Airport Market Size
Smart Airport Market was valued at USD 2.9 billion in 2022 and is estimated to register a CAGR of over 13% between 2023 and 2032. The increasing adoption of self-service technologies, such as automated check-in kiosks, baggage drop systems, and smart boarding processes, is driving the growth of smart airports. These advancements enhance efficiency, reduce wait times, and provide passengers with a seamless & convenient travel experience, contributing to the industry expansion globally. For instance, in June 2023, Kuala Lumpur International Airport (KLIA) introduced a self-service installation to enhance the travel experience. This initiative allows passengers to independently check-in, drop off baggage, and obtain boarding passes through automated kiosks. The self-service system aims to streamline airport processes, reduce queues, and provide travelers with a more efficient & convenient journey at KLIA.
Artificial Intelligence (AI) is revolutionizing the smart airport market by optimizing operational processes and enhancing passenger experiences. AI-powered technologies facilitate efficient resource management, predictive maintenance, and personalized services. For instance, in September 2023, Devon-based company, Rezcomm launched AI-driven technology to transform airports. The vision is to seamlessly connect AI business solutions for lounges, parking & other services, offering travelers a streamlined journey. This approach aims to modernize airport operations, enhancing efficiency and transforming the passenger experience by redefining how individuals interact with airport & transportation services.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Smart Airport Market Size in 2022: | USD 2.9 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 13% |
| 2032 Value Projection: | USD 9.7 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 395 |
| Segments covered: | Airport size, Technology, Airport model, Operation, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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High capital investments pose a significant challenge in the smart airport industry. The implementation of advanced technologies including AI, IoT, and automation requires substantial upfront financial commitments. From infrastructure upgrades to deploying smart systems, airports face considerable costs. Striking a balance between achieving technological advancements and managing capital expenditures is crucial for the successful adoption of smart solutions, making financial considerations a key challenge in the development of smart airports.
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Smart Airport Market Scope
