DUBLIN, July 29, 2022 /PRNewswire/ — The report “Airport Retail Consumer Electronics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” has been added to from ResearchAndMarkets.com offer.
The global airport retail consumer electronics market is expected to grow at a CAGR of 8% during the forecast period 2022-2030
This research report represents the analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compound annual growth rate (CAGR) for each of the respective segments estimated for the forecast period from 2022 to 2030.
Based on the current state of the business, airport consumer electronics retail represents approximately 0.1% of the global consumer electronics market. The market for consumer electronics sold at airport outlets is expected to expand significantly.
China, Indiaand United States, focused on building infrastructure to boost operations at full capacity. The world’s largest economies are currently investing in infrastructure to pave the way for massive economic growth in the form of the development of shopping malls, ports and airports, among others.
The airport retail consumer electronics market is expected to witness significant development owing to increased investment and increased customer demand for souvenirs, both of which are driven by technology. big data. New opportunities for consumer branding and brand loyalty continue to arise due to the expansion of globalization and the increase in the number of people who like to travel to other countries.
Increase air passenger traffic
The expansion rate of consumer electronics sales in airport stores has been recorded at 6% over the past decade. The trend of transitioning from traditional airports to airports that resemble small towns called aerotropolises is expected to deliver high profits over the next decade. The retailing of consumer electronics at airports has a direct application in areas designated for air travel.
Additionally, a survey conducted by Airport Council International revealed that there has been an increase of around 8-10% in global air passenger traffic over the past five years. This growth should present lucrative opportunities for manufacturers. The aforementioned trends provide clear information on the likelihood of this market’s potential to more than quadruple its current market value over the next ten years.
Aero City promises a significant opportunity over the forecast period
Pre-Security (Landslide), Post-Security (Airside) and Aero Cities are the three major store locations associated with the airport retail consumer electronics market. Aerocities are predicted to offer the greatest opportunity in terms of absolute dollars during the forecast period 2022-2030.
The current transition pattern followed by the majority of airports with high passenger traffic, such as Seoul Incheon, Singapore Changi, Dubai International, Shanghai Pudong and Beijing Capital, is a necessary factor to understand the above information. Aerocity revenue is expected to be the largest with a revenue share of 45% in 2021. This CAGR of this market is expected to increase to 8.8% during the forecast period 2022-2030.
APAC and Europe contributed over 75% of global revenue in 2021
It is expected that the consumer electronics retail market at airports Asia Pacific will experience significant growth in the coming years. Competitors in the market expect robust expansion on the back of growing tourism boom as well as major tourist destinations such as Thailand, Indonesiaand Malaysiaamong others.
In addition to this, the region is seeing an increase in demand for consumer products, which can be attributed to increased levels of discretionary income. The expansion of the airport retail consumer electronics industry is expected to be driven by rising income levels as well as growing demand for branded solutions. In addition, the airport retail consumer electronics market is expected to witness significant expansion in both North America and Europe.
A strongly consolidated market to face fierce competition
The airport retail consumer electronics market is expected to continue to be highly concentrated in the coming years owing to the continued expansion of major market players. Market players operating in the retail of consumer electronics at airports have, for the most part, chosen growth-oriented strategies.
Moreover, the most important thing on their priority list is to maintain their brand while making constant improvements to the technical capabilities of the aforementioned technologies. These tactics help global players expand their geographical footprint and accumulate the highest possible market share, thereby giving them a technical advantage.
Key questions answered by this report
- What are the key micro and macro environmental factors impacting the growth of the Airport Retail Consumer Electronics Market?
- What are the major investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecasts and market projections till 2030.
- Which segment represents the fastest CAGR during the forecast period?
- Which market segment has a larger market share and why?
- Are low- and middle-income economies investing in the airport retail consumer electronics market?
- What is the largest regional market for the Airport Retail Consumer Electronics market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin Americaand Middle East & Africa?
- What are the key trends driving the growth of the Airport Consumer Electronics Market?
- Who are the major competitors and what are their key strategies to strengthen their presence in the global airport retail consumer electronics market?
Key players in this market include
- Durfy AG
- Crystal Media
- Royal Capi Lux (‘Capi’)
- Dubai Duty Free
- Lagardère Travel Retail
- Bahrain Duty Free Shop Complex
- Register Duty Free
By Product Type (2020-2030; USD Million)
- Electronic appliances
By airport size (2020-2030; US$ millions)
By Store Location (2020-2030; US$ Millions)
- Pre-Security (Landside)
- Post-security (airside)
By channel (2020-2030; USD millions)
- Specialty retail store
Regional Segment (2020-2030; USD Million)
- North America
- Europe and United Kingdom
- Asia Pacific
- South Korea
- Latin America
Global Covid-19 Segment Impact (2020-2021; USD Million)
- Situation pre Covid-19
- Situation after Covid-19
For more information about this report visit https://www.researchandmarkets.com/r/193cns
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SOURCE Research and Markets