Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· October, 2021: Stanley Robotics to join hands with Mitsubishi Heavy Industries, Ltd. (MHI), to launch robotic autonomous car transportation systems in Japan and Asia-Pacific.
· July, 2018: Avidbots Corp. announced the deployment of Avidbots Neo floor robot cleaners at the Singapore Changi Airport to reduce operational costs.
The global airport robot market is estimated to grow at a CAGR of ~18% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing usage of robots for various applications at airport. Airports experience heavy passenger footfall each year, which is easier to manage with the help of automation and robotics. Robots are used for various purposes at airports, including, security, guidance, cleaning, and others. Moreover, automation and robotics can provide enhanced customer experience, improve efficiency and accuracy, and deliver multitasking. Airports require high security, which is easier to achieve with the assistance of robots. Such factors are estimated to boost the market growth. Moreover, the increasing adoption of technologies, such as, AI, and robotics, is further anticipated to boost the market growth.
Additionally, the growing number of passengers at airports, backed by the surge in demand for air travel, is also estimated to boost the market growth. According to the data by the International Civil Aviation Organization (ICAO), the total number of passengers travelling through airways grew from 4.331 million in 2018 to 4.486 million in 2019, registering a growth of 3.6% in 2019.
The market is segmented by application into airport security, boarding pass scanning, cleaning services, airport baggage system, passenger guidance, and others, out of which, the air security segment is anticipated to hold the notable share in the global airport robot market over the forecast period on account of growing requirement of tight security at airports, backed by cases of violence and threats at airports. CLICK TO DOWNLOAD SAMPLE REPORT
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.
On the basis of geographical analysis, the global airport robot market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of increasing number of international and domestic airports, along with high passenger footfall. Moreover, technological development in the region is estimated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of high number of airports, along with the growing adoption of robotics. The rising technological advancement in the region is further expected to boost the market growth. The U.S. has more than 19,000 active domestic and international airports. This large number of airports is bound to increase the demand for airport robots in the region.
The global airport robot market is further classified on the basis of region as follows:
Our in-depth analysis of the global airport robot market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing passenger footfall in airports, and growing adoption of robots is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~18% over the forecast period, i.e., 2022 – 2030.
High cost of maintenance is estimated to hamper the market growth.
The market in the North America is estimated to provide more business opportunities for growth over the forecast period, owing to the growing adoption of robotics in the region.
The major players in the market are Avidbots Corp., ECA GROU, Universal Robots A/S, SoftBank Group Corp., Yujin Robot Co., Ltd., Stanley Robotics, ABB Ltd., SITA, and others.
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.
The market is segmented by type, application, and by region.
The airport security segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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