Airport Retailing Consumer Electronics Market

Electronics 2024-01-24 214 Views

Airport Retailing Consumer Electronics Market Outlook (2022-2032)

The global airport retailing consumer electronics market is estimated at USD 1,880 Million in 2022 and is forecast to surpass USD 3,780 Million by 2032 end, growing at a CAGR of 7.2% during 2022-2032.

Report Attribute	Details
Market Size Value in 2021	USD 1,820 Million
Market Value Estimated in 2022	USD 1,880 Million
Market Value Forecast in 2032	USD 3,780 Million
Global Growth Rate (2022-2032)	CAGR 7.2%
Middle East & Africa Market Size in 2022	USD 602 Million
Middle East & Africa Growth Rate (2022-2032)	CAGR 8.4%
GCC Countries Market Size in 2022	USD 289 Million
Top 5 Companies Market Share	~58%
Key Companies Profiled	Durfy AG Crystal Media Royal Capi-Lux ('Capi') InMotion Dubai Duty Free Lagardere Travel Retail Bahrain Duty Free Shop Complex Regstaer Duty Free

Airport retailing being an easily accessible option for travellers provides enhanced convenience to them. With increasing number of variety of merchandises along with the rise in number of low-cost airlines options escalates its market valuation by 2.1X during forecast period of 2022-2032.

With reference to present market scenario, airport retailing consumer electronics accounts around ~<1% of global consumer electronics market states Fact.MR - market research and competitive intelligence provider. Eventually, with the increasing expansion of leading market players, the airport retailing consumer electronics market is likely to remain highly concentrated in the upcoming years.

Out of the prominent end-use industries for Airport Retailing Consumer Electronics (Automotive, Food and Beverage, Electrical and Electronics, Healthcare, Retail and e-commerce and Others), demand of Airport Retailing Consumer Electronics systems in food and beverages industry is estimated to generate ~30% of overall revenue associated with these systems.

Airport Retailing Consumer Electronics platform research performed by Fact.MR delves on key insights such as current and speculative market approach, facilities offered by each airport retailer, current and speculative pricing, high profiled brands available across the airport retailing services, and in-depth market analysis by considering overall scenario of global airport retailers, overall airports distribution, global consumer electronics market, global retailing services market, global aerotropolis industry and many more.

Historical Analysis Vs. Future Projections for Airport Retailing Consumer Electronics Market

According to Fact.MR, growth rate for airport retailing consumer electronics was noted as 6.1% in past decade. Considering the opportunities in airport retailing consumer electronics market, the transition trend from normal airports to resembled miniature cities as ‘aerotropolis’ is anticipated to provide in high revenues in upcoming decade.

Airport retailing consumer electronics holds direct implementation in air travel spaces. In addition, as per Airport Council International’s survey approximately 8%-10% increase in the worldwide air-passenger traffic over past 5 years is set to provide lucrative opportunities to manufacturers. Aforementioned trends gives clear insights about likeliness of this market to double its present market valuation within upcoming 10 years.

Attributed to forecast analysis, emerging economies, including China, India, the United Arab Emirates, and Indonesia, are likely to account for more than 50% of the global air passenger traffic by 2040 end. Market players are sensing high revenue-generating opportunities at large and busy airports in aforementioned economies, which is redefining the growth prospects of the airport retailing consumer electronics market in developing countries.

In accordance to the aforementioned factors, airport retailing consumer electronics market is projected to grow with an exciting growth rate of 7.2% during the assessment period of 2022-2032. Moreover, it is likely to provide an absolute $ opportunity of USD 1,900 Million during the same timeline.

Recent Trends

Unlike conventional times air travel now is less expensive and expected to increase its share in the market over the next decade. In 2020, low-cost air travel accounted for 35% of total seats. This rise in flights has a positive impact on airport retail.
Business travel has faced a critical time during covid-19 as following the rules and restrictions on air travel has affected the United States and China the leading aviation markets. The post-pandemic recovery in air travel is anticipated to resume business trips. Business class travelers are more likely to be interested in electronics as face-to-face meetings are considered important in this industry. This segment of consumers is more likely to buy their electronics from airport retail outlets.
Most of the airport retail is dominated by food and beverage consumer electronics as this holds a significant share of the market. With the premium, consumer electronics airport is expanding their retail offerings and also enhancing shoppers’ experience.
The brands are focused on highly international audiences with personal advertising efforts and targeted marketing.
Digital retailing is embraced by the brands and these retailers may notice a shift to younger consumers and less affluent travellers. The in-store shopping experience is now transforming with the presence of Omni channels and seamless digital connectivity among digital platforms.

Country-wise Analysis

How Airport Retailing Consumer Electronics systems market in UAE holds Maximum Absolute $ Opportunity for Upcoming Half-Decade?

The United Arab Emirates is expected to generate ~48% revenue for MEA airport retailing consumer electronics market by 2022 end. With the increasing air activities in developing countries, regions such as Asia Pacific and Middle East & Africa (MEA) remain one of the leading attractions for airport retailing consumer electronics vendors.

Dufry AG, a Swiss travel retailer and a leading player in the airport retailing consumer electronics market, signed a new contract to operate a 2,300 m² with two duty-free stores at Perth Airport Pty Ltd (PAPL), Australia. The company’s goal to establish a stronger foothold in Asia, Eastern Europe, Middle East, and Australia is underpinned by its significant investments in its travel retail stores at popular airports in these regions, such as Sharjah International Airport.

Another player in the airport retailing consumer electronics market – Royal Capi-Lux recently signed a contract to open a consumer electronics store covering 447sq m of space at Abu Dhabi International Airport’s new Midfield Terminal.

Accounting to aforementioned factors, Airport Retailing Consumer Electronics market in United Arab Emirates is projected to expand with a growth rate of 8.3% during 2022-2032. Whereas, it is estimated to surpass USD 139 Million by 2022 end.

In addition, it is expected to provide an absolute $ opportunity USD 325 Million along with gain of 750 BPS during the assessment period of 2022-2032 due to continuous developments occurring in UAE airport retailing business.

airport retailing consumer electronics market by Fact.MR

Category-wise Analysis

How Airport Retailing Electronics Market in Aero Cities Projected to generate Maximum Revenue in Upcoming 10 Years?

Out of the major store locations associated with airport retailing consumer electronics market (Pre-security (Landslide), Post-security (Airside) & Aero Cities), aero cities are anticipated to provide maximum absolute dollar opportunity during the forecast period of 2022-2032. Factor comprehending above insight is the present transition trend followed by majority of high air-passenger traffic airports such as Seoul Incheon, Singapore Changi, Dubai International, Shanghai Pudong and Beijing Capital.

All the aforementioned airports records on an average of 350 Million of air traffic every year. This provides lucrative opportunities to currently running airport retailing businesses along with high demand raised for consumer electronic products.

Such market uplifting scenarios in airport retailing consumer electronics business are set to provide a gain of 750 BPS from aero cities segment projected to grow at 8.8% CAGR during the assessment period.

Highly profit-making airport retailing consumer electronics market in aero cities is estimate to reach market value of USD 1,618 Million by 2032 end with overall market share around 42.8%. An excellent growth rate of 7.9% is likely to project during the forecast duration.

Competition landscape: Top Companies of Airport Retailing Consumer Electronics Market

Market players in airport retailing consumer electronics business have mainly opted for growth oriented strategies. In addition, branding and continuous technical advancements in the aforementioned technology hits the top position in their priority list. These strategies are helping the global players to expand their regional footprint and garner maximum market share thus providing technical advantage.

Fact.MR has provided detailed information about price points of top service providers of airport retailing consumer electronics positioned across regions, market growth, growth in number of airports and speculative technological growth in the recently published report.

For instance, In August 2021, Durfy continued its partnership by extended the duty and tax free rental contract at Cardiff airport, Wales.

Similar, recent developments related to companies offering in big data analytics technology have been tracked by the team at Fact.MR, which are available in the full report.