Regionally, the global airport kiosk market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is the largest market in size on the back of high passenger traffic and is estimated to witness modest growth over the forecast period, with the U.S. having over 80% of the regional market share.
Furthermore, the market in Europe region, with Russia and Germany holding 15% and 14% of the regional market share respectively, is estimated to witness significant growth. The growth of the market is attributed to rising airport constructions and increasing air passenger traffic.
The global airport kiosk market is further classified on the basis of region as follows:
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Our in-depth analysis of the global airport kiosk market includes the following segments:
May 2022: Qantas Airways Limited announced that it will roll out a range of dated check-in kiosks and replace them with streamlined electronic terminals with the ability to check in passengers and print bag tags in just seconds in several cities around Australia.
December 2021: The Mangalore International Airport (MIA) installed common-use self-service (CUSS) kiosks to help passengers to print their boarding pass and baggage tag, adding value to passenger safety by going contactless.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Growing passenger traffic, increased IT spending at airports, and increasing adoption of self-service solutions for passenger convenience are the major factors driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2022-2031.
Ans: Security threat associated with the authentication and authorization of passengers using kiosks at the airport and the inadequacy of kiosks to prevent cyber-attacks are the key restraints that may affect the growth of the market.
Ans: Europe region is expected to register the significant business opportunities for the growth of the market.
Ans: The major players in the market are Fujitsu, Embross, Diebold Nixdorf, Incorporated, Toshiba Tec Corporation, Collins Aerospace, NCR Corporation, Bolloré Group, SITA, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by component, application, and by region.
Ans: The common-use self-service (CUSS) segment is anticipated to hold the largest market size over the forecast period.