Dubai – Mubasher: The global market for smart airports is set see a 6% compound annual growth rate (CAGR) reaching $13 billion by 2019, a study by Technavio has shown.
Another study by Markets and Markets said it expected that market to reach $13.5 billion by 2020, CAGR of 5.61%.
"The Middle Eastern market for smart airports is emerging. This is because of an increase in investment by the UAE government toward expanding airport capacity and building efficient operations," Technavio said.
Travelers are expected to surpass 7.3 billion by 2034, the statement said, adding that this growth will boost investments in the region in general and in the UAE in particular.
Smart technologies will help airport authorities cut operational costs by 25% and provide passengers with "seamless" travel, the report stated.
The Middle East smart airport market is set to exceed $850 million in 3 years, growing at a CAGR of more than 4%.
