Market Research Future published a research report on “Global Intelligent Airways Transportation System (IATS) Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
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Market Overview:
Rapid technological advancement is resulting in continuous upgrading of airport equipment to facilitate safety and efficiency of the airways. The intelligent airways transportation system uses information technology in order to manage airway services. Market Research Future (MRFR) has published a report asserting that the global intelligent airways transportation system market is marked to expand remarkably at a CAGR of 11.5% during the forecast period of 2016-2022 and reach the valuation of USD 21.5 Bn by the end of 2022 from USD 11.18 Bn in 2016.
Market Drivers and Restraints:
Increasing adoption of advanced technology and rapid development in artificial intelligence technology are majorly aiding in air traffic organization by maintaining the critical elements of airways transportation systems. Growing trend of internet of things and the benefits of intelligent airways transportation system for enhancing security and service quality are contributing to the significant growth of the global Intelligent Airways Transportation System Market. Increasing aircraft fleets and air traffic are inducing high demand for advanced management solutions that provide real-time data, which in turn is propelling the growth of the global intelligent airways transportation system market.
Implementation of intelligent airways transportation system to enhance customer experience and security by making the travel more personalized and for timely managing of services are propelling the growth of the global intelligent airways transportation system market. The features of intelligent airways transportation system that aid in simplifying the complexities regarding the working of airports and airways are inducing demand for advanced solutions, resulting in the expansion of the global intelligent airways transportation system market. However, high cost of upgrades and lack of resources are some of the primary factors that are likely to restrain the growth of the global intelligent airways transportation system market during the forecast period.
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Market Segmentation
The market for intelligent airways transportation system is segmented on the basis of component, deployment and technology.
Component-wise, the intelligent airways transportation system market is considered for hardware and software. The hardware segment is further segmented into sensor, display units, closed circuit cameras, networking devices and others. On the other hand, the software segment includes backend integration various device.
Depending on the deployment, the intelligent airways transportation system market caters to on-cloud and on-premises.
Technology-based segments in the global intelligent airways transportation system market are passenger empowerment, smarter baggage solutions, biometric-enabled self-service, data science, robotics and artificial intelligence and others.
Key Players
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.
Regional Analysis
The report states that the global intelligent airways transportation system market, region-wise, is segmented into the major regions of Europe, Asia Pacific, Europe, North America, and the rest of the world (RoW).
The market in North America is predicted to expand at a considerable growth rate on account of the increasing adoption of artificial intelligence technology as well as the easy adoption of advanced solutions for airport management. Also, growing use of internet of things along with cloud related technologies will auger well with the regional market growth in the coming years.
The increasing stress on airport automation along with the smoother adoption of advanced technology is working wonders for the regional market of intelligent airways transportation system in Europe. Apart from this, the rapid increase in the number of operating airports, augmented demand for airport information systems, surging adoption of innovative airport technologies coupled with the enhanced system of baggage handling will buoy the market position in the region.
The report prognosticates the Asia Pacific region to be the fastest-growing region in the global intelligent airways transportation system market, backed by the increasing adoption of technologically advanced solutions that help manage the rapidly increasing air traffic in the region. Moreover, the growing disposable income and surging demand for various technological solutions in the airlines catering to the need for cross domain applications are striving to serve numerous opportunities to the regional market.
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Intended Audience
• Airport Authorities
• Airport Technology Vendors
• Airport IT Solution Provider
• Airline Operators
• Airport Planners
• Research institutions
• Technology investors
• IT firms
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Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 88924343
