Turismo
Digital Technology Investment and Profit-Driven Business Models Drive Passenger Flow Management Market
In the Airports Team at Frost & Sullivan sheds light on three key segments that are gaining prominence in the passenger flow management (PFM) market: Passenger Detection, Passenger Tracking & Queue Management, and Mobility & Location-based Service Platforms. Global demand for air travel has increased steadily with 2016 registering a year-on-year growth of 6.0%. This rise in demand, particularly at capacity-constrained Tier I and Tier II airports, has led to encumbered passenger flow and longer wait times, leading airport operators to seek PFM solutions that help optimize capacity and enhance efficiency.
"The need of the hour is for the development of low-cost technology with standardized metrics that can be integrated with existing platforms, but flexible enough to scale in relation to the complexity of airport operations," said Airports Senior Research Analyst . "Currently, there is a proliferation of niche technology providers. This paves the way for forging partnerships and acquisitions and increasing product and technology R&D to meet airport requirements."
Physical constraints in European airports have led to the rapid adoption of analytic and flow solutions to optimize resources and manage passenger flow. In the US, airports operate under stringent regulations and budget restrictions, making it slower for suppliers to penetrate. Airports in APAC are gradually increasing the implementation of flow solutions, providing growth opportunities for suppliers. However, airports endeavor to develop solutions in-house with local expertise and partnerships.
Players should focus on automation and digital technology engenders data generation which is leveraged by various PFM platforms to manage operations and push relevant information to passengers. Further factors propelling growth opportunities include:
"The high growth rate of PFM solutions will result in an integration with operational platforms leading to a single source of information for operators to track, monitor and manage airport operations," noted Benjamin. "This will give rise to opportunities to develop solutions that cut across various airport segments and manage total airport operations."
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