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Global smart airports market is to be $13 billion industry by 2020

The smart airports market is estimated to be at $9,718.07 million in 2014

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Soma Tah
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DUBLIN, IRELAND: With the better technologies in the smart airports market, the smart airports market is estimated to be at $9,718.07 million in 2014, and is expected to register a CAGR of 5.61%, to reach $13,481.17 million by 2020, says the recent Research and Markets report.

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Airports investment has increased to 5.43% in 2013 from 4.19% in 2010. These changes in investment address the capacity and passenger growth challenges.

According to a SITA survey, improving passenger experience remains the single most important driving force for IT investment for 68% of the airports, with reducing the cost of business operations coming in second at 39%.

When it comes to spending IT budgets, airports are putting passengers first. Over half of airports have major programs related to self-service and passenger mobile apps. In addition, two-thirds of airports have major infrastructure programs to deploy common-use systems for passengers, such as kiosks and implementation of Wi-Fi, which is focussed towards enhancing passenger satisfaction.

Airports have been progressing towards technically advanced software and systems for the building operations, where information can be accessed and shared across platforms. Airport building operations play an important role in developing or modernizing the smart airport building solutions.

Currently, the smart airport building operations market is estimated at $1,704 million in 2014 and it is estimated to grow at CAGR of 5.82% to reach $2,392.85 million by 2020.