January 22, 2020 by Market-NewsFlash
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.
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.
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.
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