Airport IT spending to reach $4.63bn by 2023
According to new research from Frost & Sullivan, increasing passenger traffic and global capacity constraints is set to see airport digital transformation spending rise to $4.63bn by 2023.
“Capacity constraints coupled with unprecedented growth in aircraft and passenger traffic, as well as competition and the promise of new non-aeronautical revenue streams necessitate a transformation in airports’ value proposition, by leveraging emerging technologies and transitioning from a process centric to a passenger centric business model,” said Renjit Benjamin, Senior Industry Analyst, Frost & Sullivan.
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The report, Digital Transformation in Airports, highlights that airports globally are pursuing the modernisation of infrastructure, particularly with a view of investing in digitisation to overcome physical constraints.
Frost & Sullivan have highlighted four key areas that airports are investing in to this end:
Biometrics has allowed airport security to become automated, both enhancing the performance of identity checks and improving efficiency of passenger movement within airports.
Blockchain can be used as a trusted and secure network for storing personal data, allowing for faster passenger journeys, whilst also eliminating many privacy or security concerns.
By more readily analysing data, airports are better able to proactively forecast data such as passenger flows throughout facilities in order to help anticipate and deal with peak operational periods.
A number of airports are currently using AI to recommend suitable and personalised products and services to passengers during their journeys. This holds potential in a number of airport applications, from ecommerce to management of resources.
For more information, see the full Digital Transformation in Airports report from Frost & Sullivan.