Dublin, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The "Airport Retailing Consumer Electronics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
Global airport retailing consumer electronics market is expected to grow at a CAGR of 8% during the forecast period 2022-2030
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
According to the current status of the business, airport retailing of consumer electronics constitutes approximately 0.1 percent of the overall global consumer electronics market. The market for consumer electronics sold in airport retail outlets is anticipated to experience significant expansion.
China, India, and the United States, have been focusing on building of infrastructure to boost operations at full capacity. The most important economies in the world are currently investing in infrastructure to pave the way for massive economic growth in the form of the development of trade centres, ports, and airports, amongst other things.
It is anticipated that the airport retailing consumer electronics market would have significant development as a result of increasing investment and increased customer demand for keepsakes, both of which are driven by big data technology. New chances for consumer branding and brand loyalty continue to arise as a result of expanding globalisation and an increase in the number of people who like to go to other countries.
Expanding Air Passenger Traffic
The expansion rate of consumer electronics sales in airport shops has been recorded at 6% over the past decade. It is projected that the transition trend from traditional airports to airports that resemble small cities called aerotropolis will offer high profits in the following decade. The retailing of consumer electronics in airports holds direct application in areas designated for air travel.
In addition, a survey conducted by Airport Council International found that there has been an increase of approximately 8% to 10% in the amount of global air passenger traffic over the course of the previous five years. This growth is expected to present lucrative opportunities for manufacturers. The aforementioned tendencies provide obvious insights regarding the likelihood of this market's potential to more than quadruple its current market worth during the next ten years.
Aero City to Promise Significant Opportunity During the Forecast Period
Pre-security (Landslide), Post-security (Airside), and Aero Cities are the three major store locations are associated with the airport retailing consumer electronics market. It is anticipated that aero cities will provide the greatest opportunity in terms of absolute dollars over the course of the forecast period 2022-2030.
The present transition pattern that is being followed by the majority of high air-passenger traffic airports, such as Seoul Incheon, Singapore Changi, Dubai International, Shanghai Pudong, and Beijing Capital, is a factor that is necessary for comprehending the aforementioned insight. Revenues from aero cities is expected to be largest with the revenue share of 45% in 2021. This CAGR of this market is expected to raise at 8.8% during the forecast period of 2022-2030.
APAC and Europe Contributed Over 75% of Global Revenues in 2021
It is anticipated that the airport retailing consumer electronics market in Asia Pacific would experience significant growth in the next years. The competitors in the market are looking forward to a robust expansion thanks to the growing boost to tourism as well as important tourism destinations like Thailand, Indonesia, and Malaysia, amongst others.
In addition to this, the region is observing an increase in the demand for consumer products, which can be attributed to increased levels of discretionary income. It is anticipated that the expansion of the airport retailing consumer electronics industry would be driven by rising income levels as well as the growing demand for branding solutions. Additionally, it is anticipated that the airport retailing consumer electronics market will have significant expansion in both North America and Europe.
Highly Consolidated Market to Face Stiff Competition
The airport retailing consumer electronics market is projected to continue to be highly concentrated over the next several years as a result of the continued expansion of key market participants. Market participants operating in the airport retailing consumer electronics business have, for the most part, chosen growth-oriented strategies.
In addition, the most important thing on their list of priorities is maintaining their brand while also making consistent improvements in the aforementioned technologies' technical capabilities. These tactics are assisting the global players in expanding their geographical footprint and accumulating the highest possible market share, providing them with a technical advantage as a result.
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Airport Retailing Consumer Electronics market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Airport Retailing Consumer Electronics market?
- Which is the largest regional market for Airport Retailing Consumer Electronics market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Airport Retailing Consumer Electronics market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Airport Retailing Consumer Electronics market worldwide?
Key players in this market include
- Durfy AG
- Crystal Media
- Royal Capi-Lux ('Capi')
- InMotion
- Dubai Duty Free
- Lagardere Travel Retail
- Bahrain Duty Free Shop Complex
- Regstaer Duty Free
Market Segmentation
By Product Type (2020-2030; US$ Million)
- Electronics Devices
- Accessories
- Others
By Airport Size (2020-2030; US$ Million)
- Large
- Medium
- Small
By Store Location (2020-2030; US$ Million)
- Pre-security (Landside)
- Post-security (Airside)
- Aero Cities
By Channel (2020-2030; US$ Million)
- Hypermarket/Supermarket
- Specialty Retail Store
- Others
Region Segment (2020-2030; US$ Million)
- North America
- U.S.
- Canada
- Europe and UK
- UK
- Germany
- Spain
- Italy
- France
- RoE
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLATAM
- Africa
- GCC
- Africa
- RoME
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
- Pre Covid-19 situation
- Post Covid-19 situation
For more information about this report visit https://www.researchandmarkets.com/r/jt1k3n
