Albany, NY, Dec. 14, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research entitled “Airport Kiosks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022,” the global airport kiosks market was valued at US$248.7 mn in 2014 and is expected to expand at a CAGR of 16.1% from 2015 to 2022, reaching US$815.1 mn by the end of the forecast period.
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The growing adoption of self-service solutions by airlines, such as self-boarding, check-in, and bag printing, are presently the most prominent solutions increasing the demand for airport kiosks worldwide. Passengers around the world are increasingly embracing these solutions to avoid long queues and delays at airports. Moreover, increasing passenger traffic worldwide is making self-service a convenient way to control and expedite the passenger clearance, baggage clearance, and check-in processes. Furthermore, the growing trend of privatization of airports is encouraging airline companies to increase their IT spending on airports, which in turn is paving the way for market growth across the globe. Rising IT spending on airports can be construed as increasing investment in modern information technologies such as wireless connectivity, automated solutions, and check-in kiosks.
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Growing penetration of smartphone applications in order to provide on-demand flight-related information to passengers is expected to hamper the growth of the airport kiosks market in the near future. Moreover, these smartphones are opening up new communication channels between the passengers and airlines, thereby providing additional revenues through cross-selling opportunities. Thus, services such as mobile check-in are restricting the demand for kiosks at the airports.
The global airport kiosks market is currently dominated by the hardware segment, which accounted for 58.1% of the global market revenue in 2014. The demand for services such as installation, repair, and software upgrades, which result in collective market growth for kiosk service solutions, is expected to grow. However, as the current demand is primarily driven by new installations, the hardware segment is forecasted to be the largest revenue contributor to the global kiosk market revenue throughout the forecast period.
In terms of applications, common-use self-service (CUSS) is expected to be most-adopted kiosk solutions at airports worldwide. The demand for CUSS kiosks may be restricted by the introduction of mobile devices providing check-in services. Though baggage check-in applications are expected to emerge as the fastest-growing kiosk solutions, kiosks for information and common-use self-services are expected to be widely deployed types during the forecast period. Advanced applications such as automated passport control currently have limited adoption and may see a slow rise in adoption over the forecast period due to the lack of a supporting infrastructure.
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Geographically, North America headed the global airport kiosks market in 2014 and accounted for almost 37% of the market revenue. The region is expected to continue to be the largest market throughout the forecast period. This is majorly supported by the strong infrastructure capabilities of the region which is resulting in construction and revamp of a greater number of airports with some advanced self-service solutions such as kiosks. The revenue of the airport kiosks market in Europe is primarily contributed by Western European countries such as the U.K., France, and Ireland, which are currently observing a high degree of investment in software and services for airport developments.
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Source:Transparency Market Research