The intelligent airways transportation system (IATS) market, as per Market Research Future (MRFR), is poised to surge from the value of USD 11.18 Billion in 2016 to USD 21.5 Billion by 2022. Furthermore, the market size will be expanding at a CAGR of 11.5% during the forecast period (2016-2022).
Market Drivers and Top Pitfalls
The intelligent airways transportation system market growth is primarily fueled by its ability to provide high security for the passengers as well as the high service quality to the customers. The market will also experience further lavish growth pattern owing to the growing adoption of internet of things in the airways system. On that note, the increasingly popular trends of internet services will be contributing heavily to the development of the global Intelligent Airways Transportation System Market.
The growing use of airways transport out of all the modes of transportation is creating an effective as well as timely management of services, for instance passenger empowerment system/solution. Furthermore, this solution holds immense potential when it comes to offer a new level of customer service experience and also supports to remove the anxiety in the airport terminal.
The demand for intelligent transportation system in airways is increasing, owing to the need for better customer experience as well as their security, thereby making the travel personalized and smoother with the offering of end to end service. Also, the growing requirement of real time information by these intelligent technologies is one of the prominent factors responsible for smooth flow of communication in airports. In summary, the combination of all these factors will most likely create numerous growth opportunities for the intelligent airways transportation system market in the coming years.
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March 2019 – ERTICO – ITS Europe, backed by the need to reduce the carbon footprint and emissions, has deployed intelligent transport solutions in their fleet, also referred to as ‘greening the fleet’. This move forms part of sustainable transport that has become a crucial policy being undertaken by the government bodies as well as the European Union.
Global Intelligent Airways Transportation System Market – Segmentation
- Segmentation by Component: Hardware includes sensor, display units, closed circuit cameras, networking devices and Software
- Segmentation by Deployment Type: On Cloud and On Premise.
- Segmentation by Technology: Passenger environment, smarter baggage solutions, biometric enabled self-service, data science, robotics and artificial intelligence and others
- Segmentation by Region: North America, Europe, Asia-Pacific and Rest of the world.
The prominent players in the market of Intelligent Airways Transportation System market are – Amadeus IT Holding S.A. (Spain), CISCO Systems Inc.(U.S.), Indra Sistemas S.A. (Spain), International Business Machines Corporation (IBM) (U.S.), NEC Corporation (Japan), Rockwell Collins Inc.(U.S.), Siemens AG (Germany) , SITA (Switzerland), Unisys Corporation (U.S.), Honeywell Corporation Inc. (U.S.) among others.
Global Intelligent Transportation System Market Regional Analysis
Geographically, the global intelligent transportation system market is segregated into North America, Europe, Asia-Pacific and Rest of the World.
North America is the fastest growing region among others due to the presence of intense research and development in the field of smart technology related to airlines, growing penetration of IoT and cloud related technology. The intelligent airways transportation system has the highest market share in the North Region because of the presence of early technology adopters and existence of highly technology advanced countries such as US and Canada. Asia-Pacific region is expected to grow moderately due to the steady rise in the number of operating airports, rising demand of airport information system, increasing adoption of innovative airport technologies, and growing need for enhanced system of baggage handling.
- Airport Authorities
- Airport Technology Vendors
- Airport IT Solution Provider
- Airline Operators
- Airport Planners
- Research institutions
- Technology investors
- IT firms
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