Global Airport IT Spending Market - Demand for High-end Cybersecurity to Boost Growth | Technavio

Technavio has published a new market research report on the global airport IT spending market 2018-2022 under their ICT library. (Graphic: Business Wire)

LONDON--()--The latest market research report by Technavio on the global airport IT spending market predicts a CAGR of around 5% during the period 2018-2022.

The report segments the global airport IT spending market by end-user (operational system, administrative system, and passenger processing system), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global airport IT spending market, according to Technavio researchers:

  • Efforts by airports to enhance the customer experience: a major market driver
  • Focus on establishing high-end cybersecurity at airports: emerging market trend
  • The Americas dominated the global airport IT spending market with over 47% share in 2017

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Efforts by airports to enhance the customer experience: a major market driver

Efforts by airports to enhance the customer experience is one of the major factors driving the global airport IT spending market. Airports globally are focusing on the use of advanced technologies to improve customer experience and meet the increasing demand for services. The increase in mobility needs has led to growth in regular air travel and passenger traffic at most airports. Enhancing and maintaining passenger experience during transit and travel are important factors which are expected to boost revenue by ensuring satisfied passengers become repeat customers.

Companies are increasingly adopting chatbots, smart help, and social media to make a personal connection with the customer and enhance customer experience. Airlines such as KLM have been early adopters in this field. They offer their customers around-the-globe booking and check-in confirmation, boarding passes, and flight status updates via Facebook Messenger. The use of these new methods has increased customer engagement and has ensured more accessible storage of information in a single place, thus increasing its availability at the airport, on the flight, or at home. Also, due to the integration of social media with daily life, consumers have become sensitive to the brands' social media presence. In the current consumer behavior scenario, social media activity translates into increased brand loyalty and better sales.

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Focus on establishing high-end cybersecurity at airports: emerging market trend

Business enterprises and government organizations are continuously relying on cloud and interconnected computer systems to manage a variety of public service departments efficiently. The increase in connectivity is beneficial for both the private and public sectors, but these systems are vulnerable to cyber-attacks such as corporate security breaches, spear phishing, and social media fraud. The aviation industry has been identified as one of the 18 critical sectors by the US Homeland Security Presidential Directive 7 (HSPD-7) along with the National Infrastructure Protection Plan (NIPP). The avionics industry is one of the most advanced in the use of cyber-security standards and is still evolving to meet imminent cyber threats.

According to a senior analyst at Technavio for IT spending research, “To meet the growing cybersecurity threats, high-tech technology is being developed every day; for instance, the “walk through security” is an advanced concept that reduces passenger wait time. Also, biometrics scanners can be used to automate the verification procedure and reduce staffing. It is expected that more than USD 35 billion will be spent on cybersecurity in 2018.”

Global market opportunities

In terms of regional dominance, the Americas led the global airport IT spending market, followed by EMEA and APAC. In 2017, the Americas accounted for more than 47% of the market share of the global airport IT spending software market. The emerging economies are expected to become the most significant end-users of the airport IT spending market globally. The rising demand for cloud-based integration, CRM, and positive consumer experience will drive the growth of the global airport IT spending market.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The latest market research report by Technavio on the global airport IT spending market predicts a CAGR of around 5% during the period 2018-2022.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com