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Tourism Overview September 2018

Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

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Page 1: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

Tourism Overview

September 2018

Page 2: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

1

Market Highlights

Source: Frost & Sullivan

Frost & Sullivan and

Amadeus have segmented

travellers into 6 main

“tribes”; each tribe has

different expectations

before, during and after

their holiday or trip

Tourists Tribes

Spend on IT in the Travel,

Cruise and Hospitality

market is expected to

grow at a CAGR of 4.0%

from 2017 to 2020 with

innovations in a number

of different areas

Hospitality

There is a wide range of

emerging technologies

which are disrupting the

way in which museums,

exhibitions and galleries

are composed and

experienced

Museums

A number of new

technologies, often from

neighboring or unrelated

markets, are shaping

and/or enabling the

deployment of mobility

solutions in Smart Cities

Smart Cities

Increased digital

proficiency across product

and services, enterprise

operations and customer

experience, will reshape

the airports and airlines

industries

Airports & Airlines

Services enabling sub-

orbital flights will begin in

2019, leading to high speed

air travel services by 2025

and, eventually, an

established “spaceline”

market

The role of Space

More than ten specialized

flying car manufacturers

are racing to launch their

vehicles in the next five

years and gain a

competitive advantage as

first-movers

Flying Cars

Overall, spending on

physical city surveillance is

forecast to grow at a

CAGR of 4.1% globally

and the cyber risk to smart

cities requires a high level

of planning

P&C Security

Page 3: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

2Market Trend #1

Source: Amadeus, Frost & Sullivan

Tourists Tribes

Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”. Each tribe has different requirements and expectations before,

during and after their trip; airports, airlines and other tourism service providers can use this segmentation for effective marketing

Traveller Tribes

Obligation

Meeters

Simplicity

Searchers

Reward Hunters

Ethical Travelers

Cultural Purists

Social Capital

Seekers

Obligation Meeters travel driven by deadlines primarily on business-related trips

Social Capital Seekers understand that to be well-travelled is an enviable quality

Simplicity Seekers value ease and transparency in their holidaymaking above all

Reward Hunters focus on self-indulgent travel, mixing luxury and health

Ethical Travellers allow their conscience to be their guide when travelling

Cultural Purists use their travel as an opportunity to immerse themselves

Page 4: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

3Market Trend #2

Source: Market Participants, Frost & Sullivan

Hospitality

Spend on IT in the Travel, Cruise and Hospitality market is expected to grow at a CAGR of 4.0% from 2016 to 2020 with innovations in a number

of areas; automated analytic platforms, autonomous social robots and fraud detection solutions are emerging products and services

Outlook Innovations

IT spend on hospitality, Global, 2016-20

82,4

92,796,4

0,0

25,0

50,0

75,0

100,0

2016 2018 2020

4.0% CAGR 2016-20

Reve

nu

e $

b

is developing automated analytics platforms

is launching autonomous social robots

is working on fraud detection solutions

Selected innovations

Page 5: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

4Market Trend #3

Museums

There is a range of emerging technologies which are disrupting the way in which museums, exhibitions and galleries are both composed and

experienced; AR/VR tools, VLC/Li-Fi receiver keys and ultra wideband wireless are transformative for the supply and demand side

Technologies Innovations

Selected technologies

Visible Light Communication

Indoor Positioning Systems

Augmented/Virtual Reality

Micro LED displays

Selected innovations

is an educational AR/VR tool which allows students to

remotely experience expeditions and museums

is developing a VLC/Li-Fi receiver key which allows speedy

data transmission in galleries

uses ultra-wideband wireless technology for positioning

systems which are used for guided tours

Source: Market Participants, Frost & Sullivan

Page 6: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

5Market Trend #4

Source: Frost & Sullivan

Tourist’s Mobility: Smart cities

A number of new technologies, often from neighboring or unrelated spaces, are shaping and/or enabling mobility solutions in Smart Cities; smart

glass, artificial intelligence, wearables and high strength materials are all expected to have an important role to play moving forwards

Smart GlassUtilising smart glass in private and public vehicles can reduce energy consumption and

provide passengers with enhanced comfort and privacy

High Strength

MaterialsHigh strength and lightweight materials are replacing metals in vehicles

Artificial

IntelligenceArtificial Intelligence agents will assess the density of traffic using GPS

WearablesWearables, like smart glasses and watches, can improve a driver’s experience and safety

during travel by tracking their vital signs for tiredness

Mobility Technologies

Page 7: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

6Market Trend #5

Source: Frost & Sullivan

Tourist’s Mobility: Physical & Cyber Security

Overall, spending on physical city surveillance systems is forecast to grow at a CAGR of 4.1% globally to reach $3.07b in 2022; the cyber risk to

smart cities requires a high level of planning. Many governments today are still grappling with the complexity of the challenge

Outlook Challenges

Spend on physical city surveillance, Global, 2016-22 Selected cyber threats

2.410

2.714

3.066

0,0

800,0

1.600,0

2.400,0

3.200,0

2016 2019 2022

4.1% CAGR 2016-22

Reve

nu

e $

b

DDoS attacks or ransomware attacks on

smart grids

Hacking of public cameras and traffic

signals (devices and sensors)

Identity thefts (digital identity and smart

cards)

Low High

Threat Level

Page 8: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

7Market Trend #6

Source: Frost & Sullivan

Tourist’s Mobility: Airports & Airlines

Increased digital proficiency across product & services, enterprise operations and customer experience, will reshape the aerospace industry;

overall, spending on technology from airports is forecast to grow at a CAGR of 3.8% globally to $4.63b in 2023 ($3.56b in 2016)

Segmentation Size

Digital Evolution

Digital

Proficiency

Digital

Fundamentals

Total Airport

Management

Autonomous

Services Augmente

d/Virtual

RealityIntegrated

Security Artificial

IntelligenceSelf-service

Biometrics

IoT Mobility

Big

Data

Connectivity

Cloud

Security

Digital Platforms

Common-use

Business

Intelligence

Products, operations and customers IT spend on airports, Global, 2016-23

3,64,1

4,6

0,0

1,5

3,0

4,5

6,0

2016 2018 2023

3.8% CAGR 2016-23

Reve

nu

e $

b

Page 9: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

8Market Trend #7

Source: Frost & Sullivan

Innovation: The role of Space

Services enabling sub-orbital flights will begin in 2019, leading to high speed air travel services by 2025 and, eventually, an established “spaceline”

market; the development of the space industry will also support airport operations as well as autonomous vehicles and trains

ApplicationsTrends

Astronaut training centre to open

Manned balloon to test

Spaceport to be developed

Virgin Galactic & SpaceX to operate

PD Aerospace to trial

Enabling seamless flight

tracking by 2023

Facilitating assisted and

autonomous driving

Allowing fully automated

operations by 2030

Selected developments Selected applications

Page 10: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

9Market Trend #8

Innovation: Flying Cars

More than ten specialized flying car manufacturers are racing to launch their vehicles in the next five years and gain a competitive advantage as

first-movers; Flying cars have the potential to address a wide range of public/private end-uses including as taxis and for agriculture

Size Applications

Planned launch of flying cars, Global, 2016-26

0

1

2

3

4

5

6

2016 2018 2020 2022 2024 2026

Ehang 184

PAL-V Liberty

Pioneer

PAL-V Liberty

Sport

Terrafugia

Transition

Volocopter

Aerofex

Aero-X Xplorair

PX 200

Joby S2

Malloy

Hoverbike

Pri

ce

$ 0

00

k

Taxi

Racing

Recreation

Agriculture

Selected applications

Source: Market Participants, Frost & Sullivan

Page 11: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

10

...

• TBC

Tourists Tribes

Page 12: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

11

Frost & Sullivan, together with Amadeus, has segmented travellers into “tribes”

Source: Amadeus, Frost & Sullivan

Simplicity

Searchers

Cultural

Purists

Social Capital

Seekers

Reward

Hunters

Obligation

Meeters

Ethical

Travellers

Degree of

PersonalisationVery High Very Low Very High High Very High High

Traveller

JourneyBeginning At Time of Use Throughout Beginning Throughout Beginning

Purchasing

ExperiencesBundle A La Carte Both Bundle Both Bundle

Level of Contact Low Low High Low High Low

Sales Channels Fixed Mobile All All Mobile Fixed

Types of Travel

ExperienceConvenience Local

Luxury &

Productivity

Health and

FitnessProductivity Ecological

Page 13: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

12

Simplicity Seekers value ease and transparency in their holidaymaking above all

Source: Amadeus, Frost & Sullivan

Traveller Tribes: Simplicity Seeker

Voyando is a Dutch travel website which enables users to

challenge travel experts to help find the best travel deal

based on a set of specified criteria

T R I B E C H O I C E P R O P O S I T I O N

Those whose methods for research, booking and travel look,

in an increasingly digitalised and disintermediated world, for the

traditional. They may rely on travel agents. They demand simple,

unchallenging experiences and familiar surroundings as a

relaxing escape from or antidote to the pressures of modern life

Related Behaviours

• Digital Detox

• Cruise market

• Larger groups/Translation apps

• Seamless airport protocols demanded

“We can be distracted by Silicon Valley boosterism about how

consumer empowerment through IT is the future and that’s it.

What needs to happen first is some of the basics of customer

service are covered. When an airport closes down for smoke do

you think the airport sends texts or emails to the people who

have booked flights for that day?”

James Woudhuysen

Page 14: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

13

Cultural Purists use their travel as an opportunity to immerse themselves

Source: Amadeus, Frost & Sullivan

Traveller Tribes: Cultural Purist

Traffle is a mobile travel app which provides its users with

a travel itinerary for a country of choice

by the means of a simple shake

T R I B E C H O I C E P R O P O S I T I O N

This tribe captures those for whom holiday-making is a chance to

step out of a comfort-zone, an opportunity to immerse oneself

entirely in an alien culture, even uncomfortably so. Authenticity is

key for this group, as they seek options which make possible a

connection with an entirely different world

Related Behaviours

• Digital Detox. Solo?

• Anti-algorithm/Surprise Me tech

• Food/Dark Tourism. Peer Economy.

• “Off-the-map” experiences

“I don’t know where the flip point is for the Chinese tourist for

example. They seem very consumption-oriented, very into

shopping. But looking at the hierarchy of needs; community will

become for them more important, less materialistic and more

inconspicuous consumption, and more engagement with other

cultures on their own terms will come to the forefront”

Ian Yeoman

Page 15: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

14

Social Capital Seekers understand that to be well-travelled is an enviable quality

Source: Amadeus, Frost & Sullivan

Traveller Tribes: Social Capital Seeker

#noshittyphotos in an attempt to salvage Instagram

feeds from low-quality tourist photos. The developers

marked ideal spots from which to take

the perfect photos of landmarks

T R I B E C H O I C E

P R O P O S I T I O N

This tribe feels, in all areas of life, a need to constantly promote

their personal importance or accomplishment to their online

networks. They do not “switch off” from this when on holiday

They may take guidance from their networks as to their choice of

destination, but once they arrive they will certainly plan their

activities with an awareness of their constantly “being watched”.

In this sense, the social capital seeking traveller is naturally

always “half-here, half-there” Related Behaviours

• Demanding everywhere connectivity

• Seeking “trendy”

• Contributing to review networks

• Posting on multiple/niche networks

Page 16: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

15

Reward Hunters focus on self-indulgent travel, mixing luxury and health

Source: Amadeus, Frost & Sullivan

Traveller Tribes: Reward Hunters

The Six Senses spa in Etihad’s first-class lounge,

Heathrow, gives travellers an opportunity to unwind

after check-in with a full-service spa and beauty

parlour

T R I B E C H O I C E P R O P O S I T I O N

As awareness blossoms amongst the global citizenry about

what is best for our bodies and minds, coupled with a growing

understanding that urbanisation, increasing working hours,

solitary living and technological dependency may

not exactly be it, demand grows for forms of travel

which promise health, happiness and heart

Fitness particularly has grown into a “total lifestyle” pursuit in

recent years. The Cult of Fit has burst from the confines of the

gym and spawned untold thousands of pop-up yoga events,

cardio-in-the-park workouts, dance-fitness raves and Soulcycle

discos. Wellbeing is a hard taskmaster;

he doesn’t allow time off for a boozy holiday

Related Behaviours

• Visiting fitness/pop-spiritual “festivals”

• Travelling in or meeting with Connected Communities of

fellow wellness-worshippers

Page 17: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

16

Obligation Meeters travel driven by deadlines, primarily on business-related trips

Source: Amadeus, Frost & Sullivan

Traveller Tribes: Obligation Meeter

Virgin America announced a partnership with the

professional networking app Here on Biz. The app uses

GPS technology to physically connect people for potential

networking opportunities

T R I B E C H O I C E

Related Behaviours

• Improvising around main purpose?

• “Bucket list” travel

• Business travel

• Pilgrims

P R O P O S I T I O N

This tribe comprises those who travel not to meet “soft” targets -

such as enjoyment, personal fulfilment, the acquisition of a skill -

but “hard” targets; I need this surgery, I need to shop at this store,

I need to take this exam, I need to attend this lecture/conference, I

need to meet this contact etc

“There are two sectors for business travel. I’ve got a meeting in

Edinburgh today, I might be staying overnight and then I’m

coming back. This is about 80% of business travel. The other

20% is the MICE market - meetings, incentives, conferences

and exhibitions. Blending business and leisure is mainstream

now.”

Ian Yeoman

Page 18: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

17

Ethical Travellers allow their conscience to be their guide when travelling

Source: Amadeus, Frost & Sullivan

Traveller Tribes: Ethical Traveller

The Tabacon Grand Spa, located in a Costa Rican rainforest

that has been described as “the eighth wonder of the world,” has

achieved the Luxury Eco Certification Standard and offers flora

and fauna protection, wastewater treatment

and workshops on the natural surroundings

T R I B E C H O I C E P R O P O S I T I O N

We imagine that ethical concerns will have a tangible impact on

the decisions of a small, but resilient, group of travellers.

Environmental issues and energy crises will rise higher and

higher on the global political agenda, and awareness will trickle

down to the level of most consumers. Belief of all kind, will

motivate and restrict some

Related Behaviours

• Carbon offsetting

• Avoiding destinations/providers on ethical grounds

• Travelling virtually/close to home?

“There is a potential 10 to 15% who will seek out the greenest

method of travel [...] I do think between now and 2030 there is

going to be a huge increase in the noise about climate change,

but despite this I don’t think people anywhere in the world will

significantly scale down their travel.”

Ray Hammond

Page 19: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

18

...

• TBC

Hospitality

Page 20: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

19Overall, spend on IT in the Travel, Cruise and Hospitality market is expected to

grow at a CAGR of 4.0% from 2017 to 2020 with innovations in a number of areas

Source: Frost & Sullivan

Revenues, Global, 2014-2020IT Spend,

Global, 2014-2020Contribution to IT Spend,

Global, 2014

76,2 79,2 82,4 85,7 89,1 92,7 96,4

0,0

50,0

100,0

150,0

2014201520162017201820192020

IT S

pen

d (

$

Billio

n)

4.0%

Software40%

Hardware20%

Telecom22%

IT services18%

• The travel, cruise, and hospitality has gradually become a more technologically equipped sophisticated market. The service

providers strive to harness emerging technologies to enhance customer experience and loyalty. The pressure to operate

efficiently is driven by the dynamic growth in passengers and increased customer expectations while delivering an unparalleled

user experience.

• Air transport facilitates quick and reliable transportation globally and is deemed extremely important from the perspective of

perishable and valuable commodities.

Travel, Cruise, and Hospitality Market

3,7 4,0 4,4 4,8 5,35,8

6,4

0,0

2,0

4,0

6,0

8,0

2014 2015 2016 2017 2018 2019 2020

9.9%

Rev

en

ue (

$ T

rillio

n)

Page 21: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

20

Sabre (US) is developing automated analytics platforms

Source: Sabre, Frost & Sullivan

KEY CHALLENGES

TECH PROFILEKEY BENEFITS

• Sabre Corporation has developed an automated analytics platform SynXis Analytics

Cloud to address the needs of the hospitality industry. The platform uses artificial intelligence

(AI) to drive revenue focused decisions for hoteliers. The platform utilizes a suite of business

intelligence tools, which enables hotel executives to analyze hotel performance at a region,

brand, or chain level. The platform leverages pre built machine learning algorithms to design and

test different predictive models for improving guest experience and revenue opportunities, and

offer powerful on-demand analytics and storytelling capabilities. The solution empowers

highly customized, on-demand analytics techniques to provide actionable insights required for

improving overall business operations.Analyst Viewpoint

According to Frost & Sullivan’s analysis, one of the major

concerns for the hospitality industry is to have actionable

business insights to improve customers’ experience and to

drive revenue growth. In the growing Big Data environment,

Sabre Corporation’s solution will have a significant

impact on the hospitality industry

by 2019.

The hospitality industry has been following the traditional static backward reporting method and the tools available are limited to

analyzing only past events, providing a historical view and some insights. Many hoteliers are often using manual reporting for their

businesses, thereby affecting their revenue-focused decisions. With the exponential rise of Big Data, hoteliers are facing

challenges with data integration and generating informed decision making business insights from it.

Market Opportunity

LOW

MEDIUM

HIGHLOW

MEDIUM

HIGH

Short Term (1-2 Years) Long Term (> 5 years)

• It helps hoteliers to avoid revenue loss by

analyzing data from operations, finance, room

services, ancillaries and rate-room-channel

configurations.

• It offers a data warehousing service to the host

and integrates multiple sources of hospitality

data in the cloud.

Key Application Sectors

• Airlines

• Hotels

• Car Rental Companies

• Cruise Lines

• Railways

• Government Sector

Page 22: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

21

Ravelin (UK) is working on machine learning-based fraud detection solutions

Source: Ravelin, Frost & Sullivan

Hospitality industry is increasingly being mired with

growing number of fraud attacks and data breaches. From

hotel reservations to tour itineraries to guest’s credit card

information to guest identity documents, theft of personal

data or identity fraud is increasingly becoming

commonplace in the sector.

There is a critical need to integrate and use all available

data to uncover fraud attacks in real time.

Unmet Needs

Ravelin provides a smart fraud detection and prevention platform for the

hospitality industry. It integrates customer and business data and

analyzes it, i.e., from sign up or account creation to

booking/reservations and payment process.

It imports and integrates all key data points through an application

program interface (API). The platform relies on self-improving machine-

learning models with a customizable rule engine to identify and block

fraudsters in real time.

Technology Overview

Data-first

approach

Ability to

manage

peak times

Self-

improving

models

1 2

3

• Ravelin, founded in 2014, has received total

funding of $5.64 million in 3 rounds from

multiple investors.

• The last round of funding for $3.66 million

was led by Playfair Capital with participation

from Amadeus Capital, Passion Capital, Errol

Damelin, and Paul Foster.

• Funding has primarily been in support of

aggressive expansion of team to support its

growing client base across the world. Its

client base include Deliveroo, Easy Taxi, and

Via Taxi to name a few.

Key Benefits Funding Market Opportunities

Rising cyber attacks in the hospitality industry have

created an imperative need for an easily adaptable,

scalable, and enterprise-ready fraud detection

platform. Ravelin’s unique approach adequately

addresses industry needs by preventing companies

from fraudulent attacks and helping them optimize

decision-making at real time.

Short Term

(1–2 years)

Medium Term

(3–4 years)

Long Term

(>5 years)

High HighHigh

Page 23: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

22

Cybedroid (France) is launching autonomous social robots

Source: Cybedroid, Frost & Sullivan

Intensity of Impact

0

1

2 3

4

5

3.0

Cybedroid, headquartered in France, has

launched a semi humanoid autonomous

“Leenby” social robot. The robot has the

ability to execute complex tasks and adapt

itself in public environments like hotels. The

robot perform several tasks like socially

interacting with humans, guiding elderly

people and assist in delivery of foods.

Innovation

The robot utilizes its proprietary speech

recognition software for interacting with

people based on recognised keywords. The

Leenby robot is equipped with Lidar sensors

and a stereovision camera system, which can

aid the robot in obstacle detection, mapping

people and its environments. The humanoid

robot on wheels has 20 degrees of freedom

and can move with complete autonomy with

10 hours battery.

Description

• The robot has the ability to climb a 14%

slope

• Intel i7 processor for control

• Less weight of 30Kg

• Lift lightweight objects

Technology Attributes

• Hospitality

• Retail

• Education

• Museums

ApplicationsIn May 2017, the company announced a

600,000 euros (about US$702 million at

the current exchange rate) fund raising to

allow them to begin real production.

Company Approach

Page 24: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

23

Tink Labs (Hong Kong) is enabling smarter “guest-host-guest” interactions

Source: Tink, Frost & Sullivan

In the travel and hospitality space, staying connected 24×7

at an optimized cost and convenience has remained an

eternal concern for travelers and guests. On the other hand,

personalized services to drive guest engagement remain the

key differentiator for industry participants focusing on this

space.

There is an imperative need for a solution that can offer both,

that is, a device that can offer connectivity and at the same

time serve as a channel to closely engage with the guests.

Unmet Needs

Tink Labs offers a tailor-made hospitality solution that is housed inside a

smartphone called Handy T1, which is docked as an in-room amenity across

hotels around the world. The device is integrated with hotel property

management systems and private automated branch exchange systems and

is also equipped with a near-field communications chip for enabling keyless

access and an infra-red transmitter connecting to in-room entertainment.

Handy offers unlimited voice and data services. Guests can carry the device

like a normal phone and it can be further patched into hotel services such as

front desk and concierge using applications that run on a forked version of

Android

Technology Overview

Customized

Interactive

guide

Free

roaming

services (both

voice and

data)

1 2

3

• Tink Labs, a Hong Kong-based technology

incubator, has raised 3 rounds of funding totaling

$160 million from about 4 investors including FIH

Mobile, Sinovation Ventures, TCL Communication

Technology Holdings Ltd., and venture capitalist

investor Wensheng Cai.

• With the last round of funding closed in September

2016 for $125 million, Tink Labs is now looking to

deploy services in over 100 cities targeting about 1

million hotel rooms by the end of 2017. Goal is to

expand presence beyond its strongholds Singapore

and Hong Kong to other tourist destinations.

Key Benefits Funding Market Opportunities

With its unique and innovative approach, Handy

serves as a hassle-free mobile companion, offers a

seamless experience, and helps guests stay very

engaged bringing in a slew of benefits to the

participants in the hospitality space.

Short Term

(1–2 years)

Medium Term

(3–4 years)

Long Term

(>5 years)

High HighHigh

Page 25: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

24

AquaGrow (US) is testing mobile indoor aquaponic farms

Source: AquaGrow, Frost & Sullivan

Unmet NeedsThe growing population and impact of climate change will induce the

need for indoor food production in a controlled environment. Advanced

farming systems have been catering to this need, but they are highly

capital and energy intensive. Additionally, there is a need to develop

mobile and sustainable indoor farms that are completely grid independent

and operate with alternate sources of energy.

Technology Solution

Innovation Attributes

Container Farming

Additional Profit Streams

AquaGrow farms are containerized and grid independent farms

that offer mobile food production. A container farm is extremely

useful during natural calamities, in refugee camps, and in food-

poor urban or rural areas.

AquaGrow farms offer additional profit streams through organic

waste collection fees and sale of fertilizer, the byproduct of the

bio-digestion process.

Waste Utilization

Utilization of food waste that otherwise would go to landfills aids in

the reduction of greenhouse gas emissions.

• AquaGrow Technologies, started by scientists from the Illinois

Institute of Technology, develop mobile indoor aquaponic based

farms that are completely grid independent. The farms utilize local

food waste to meet the power requirements.

• The aquaponic farms are housed in a 45X10X10 ft. cargo containers

capable of producing 14500 lb of fresh produce, 1100 lb of fish

annually.

• Each container is equipped with an anaerobic biodigester which

converts food waste to methane that is used to power the farm. The

biodigesters are designed and manufactured in collaboration with

Nullam Consulting.

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Museums

Page 27: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

26There is a range of technologies which are disrupting the way in which museums and

exhibitions are both composed and experienced

Source: Frost & SullivanSelected technologies

Augmented Reality and Virtual Reality (AR/VR) solutions

Visible Light Communication (VLC) systems

Micro LED displays

Indoor Positioning Systems

Ultra-wideband wireless radio-based

Magnetic field-based

Global navigation satellite system-based

Page 28: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

27VR/AR is being used for many purposes including enhancing the visitor experience by

allowing museum goers to “handle” precious artefacts

Source: Market Participants, Frost & SullivanVR/AR, selected applications

Productivity Improvements

The Bricklaying team at the South

Staffordshire College in the UK produced

videos that have improved the number of

trainees cutting bricks right the first time

from approximately 40% to 90%.

Healthcare Training

• The Creating Augmented Reality in

Education (CARE) project at the City

University in London, UK covers a series

of health walks to allow healthcare

students to discover the health risks

around the locality.

• The project uses GPS in conjunction with

AR to support delivery of situated

contextualised learning.

3D Reconstructions of

Ancient Artefacts• The Ure Museum of Greek Archaeology

housed by the University of Reading is the

UK’s fourth largest collection of ancient

Greek ceramics.

• Through the Augment app, the museum’s

visitors can now ‘hold’ precious pots,

rotating and moving them freely while the

real object stays safely behind glass.

Nurse Training

• AR enabled tablet-based simulations of

patient scenarios to help nurses to better

connect with their patients.

• With help from AR, nurses and other staff

are able to handle daily work situations

requiring a combination of social, technical,

and team skills.

Display of Iconic

Architecture

AR was used to display the iconic

architectural works of CONAR for the

Bienal Iberoamericana de Arquitecture

Académica ARQA (Latin American

Biennial of Academic Architecture ARQA)

at the University de Cuenca in Ecuador.

Medical Training• Medical professors leverage on AR to

educate medical students and doctors on

new therapies and drugs, thus

streamlining communications.

• Through AR technology, medical students

can easily access and understand

complex body models as well as images

and text found in medical textbooks.

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28Google’s “Expeditions” is an educational AR/VR tool which allows students to

remotely experience 500 expeditions including trips to museums

Source: Google; Frost & SullivanVR/AR

Impact of Augmented Learning

• According to a study conducted by Google, VR in education is expected grow to more than $1.7

billion by 2021, with 70% of the revenue, driven by higher education.

• Google’s VR expedition tool can be accessed by teachers by purchasing an expedition kit or

creating their own. Google expedition uses smart phone-based VR viewer, Cardboard.

• Students can use Cardboard—VR glasses, an Android phone, and an app—to travel through an

experiential field trip that the teacher controls from a tablet device.

• Google’s expedition program helps to level the playing field for students who may not be able to

travel due to financial or physical limitations.

Google Expeditions is a VR educational tool that allows students

to experience 500 expeditions from museum visits, swimming

with sharks to walking in space

Page 30: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

29Information pertaining to an exhibit inside a museum or exhibition can be effectively

transmitted using a Visible Light Communication system

Source: Frost & SullivanVLC, selected applications

Indoor Connectivity Retail Navigation

Patient Monitoring System Exhibit Information Transmission

The use of VLC for indoor applications is expected to transform

LED lighting for applications. LED lighting, apart from providing

general illumination, will also act as a communication node,

which, when connected to the Ethernet, will provide Internet

access to devices equipped with VLC transceivers.

VLC provides a smart means of navigating through store

maps by identifying each light through the use of MAC

codes placed inside the VLC chip. This can also be used

by retailers to provide information and notifications to

shoppers about offers and discounts.

Patient monitoring is an important application in hospitals. VLC-

enabled LED lights can operate medical devices without RF

signal or EMI interference, thereby monitoring patient movements

with no interruptions. Unlike Wi-Fi, they do not interfere with

electronic operations such as MRI scanners. This enables

contact-free monitoring systems.

Information pertaining to an exhibit inside a museum or

exhibition can be effectively transmitted using a VLC system.

In this case, there is limited need for bi-directional

communication and, hence, a high probability of

implementation. The user’s smartphone camera can

potentially be used as the receiver for communication.

Page 31: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

30Lucibel, a French lighting company, is developing a VLC/Li-Fi receiver key which

allows speedy data transmission in galleries and other settings

Lucibel is a France-based lighting company which specializes in providing unique lighting solutions to worldwide customers on the basis of their expertise on LED technology. Lucibel has developed a compact Li-Fi receiver key which facilitates speedy data transmission.

BUSINESS STRATEGY

Source: Lucibel, Frost & Sullivan

COMPETITIVE

FEATURES

Economical

and utilizes existing

LED lights for data

transmission

Bidirectional

and high

speed

data transfer

Secure

data transmission

with uninterrupted

connectivity

Compact and

easy to install

BUSINESS STRATEGY

Lucibel engages in

collaborative partnerships with

leading participants in various

industries, such as VLC

technology developers and

smart lighting integrators to

customize solutions for specific

application needs. Lucibel and

CITELUM are partnering to

develop innovative lighting

solutions that aid in smart

indoor and public lighting

solutions.

APPLICATION AREAS IMPACTED

• Real estate

• Retail market

• Consumer electronics

• Museums and art galleries

Year of

Impact

2019

Lucibel has developed “Li-Fi USB Key” which will be acting as receivers

interfaced with computers or laptops stationed below the Li-Fi LEDs. All

the Li-Fi LEDs are connected to a dynamic host configuration protocol

(DHCP) server using RJ45 cable. Using signal processing, the server

sends data to the LED which in turns sends data embedded in its beam to a

photo detector present in the Li-Fi key. The Li-Fi key will convert this beam of

data into electrical signals while enabling bidirectional data transfer. Li-Fi

LEDs will produce a light cone under which the Li-Fi works at very high

speeds through a bidirectional line rate up to 42 Mbps.

VLC

Page 32: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

31In the long term, the micro-LED market promises to generate a $18b market

opportunity with large systems suited to public displays in museums

Source: Frost & Sullivan

• Micro-LEDs have significant

opportunities to replace

conventional displays in small-

scale applications such as

smart watches, smart phones,

and near-to-eye displays

(NTE)

• Frost & Sullivan’s analysis indicates

high growth potential for micro-

LEDs in commercial medium

display applications such as laptops

and televisions.

• The impact of micro-LEDs on

medium-sized commercial displays

may be delayed due to the

shortcomings of existing mass-

manufacturing technologies.

• Large display applications such as

home theatre screens, public displays

in museums and stadiums offer larger

opportunity for proliferation of micro-

LEDs.

• Penetration of micro-LEDs into large

displays depends on two key

technological developments –

miniaturization and mass

transfer/production.

• Failure to meet these needs may

hinder adoption of micro-LEDs

in large displays.

Small Displays

Medium Displays

Large/ Public Displays

MARKET POTENTIAL

Currently, the primary focus of micro-LED technology is to cover three key segments – small, medium, and large displays.

The micro-LED industry is expected to reach $18.1 Billion by 2025 with a CAGR of 52.2% between 2019 and 2025.

Source: Frost & SullivanMicro-LED

Page 33: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

32Pozyx Labs (Belgium) uses ultra-wideband wireless radio technology for positioning

systems which are used for guided tours of monuments

Source: Pozyx, Frost & SullivanIndoor positioning systems

1 2 3 4 5 6 7 8 9

Technology Readiness Level

Originating from the work of Samuel Van der

Velde at Ghent University, Belgium, the Pozyx

UWB indoor positioning system has key market

opportunities, as it can provide better accuracy

than indoor positioning systems based on Wi-Fi,

Bluetooth, RFID (radio frequency identification),

or GPS (global positioning system) signals.

The systems are available with vendors.

Market penetration is expected circa 2018.

YEAR OF

IMPACT

Funding

The research has been funded by Fonds

Wetenschappelijk Onderzoek (FWO).

Innovation Attributes

➢ The Pozyx indoor 3D positioning system uses ultra-

wideband technology (UWB) wireless radio

technology, involving low energy pulses across a wide

frequency spectrum.

➢ It is provided as an add-on for the Arduino

microcontroller development board, making it highly

customizable and suitable for researchers and

hobbyists.

➢ As an alternative to satellites in GPS, the Pozyx device

uses four anchor boards to be placed in a space that

result in 3D positioning with an accuracy of about 10

cm.

➢ The system uses an accelerometer, gyro, and

magnetometer (each with 3 axes) to provide 9-axis

orientation, as well as a pressure sensor.

Unmet Needs

➢ Technology for navigation is largely reliant on GPS,

which works well outdoors. On the other hand, GPS-

based indoor navigation is not reliable as the satellite

signals are blocked or bounce off walls and other

physical obstacles.

➢ Indoor navigation systems that use Bluetooth or Wi-Fi

communications technology are highly imprecise,

bounce off walls or are absorbed, and are , therefore,

not very accurate.

➢ Navigation systems for robots and drones

➢ Tracking systems

➢ Tourism – Guided tours for monuments and museums

➢ Augmented reality equipment

➢ Safety systems for factories and warehouses

➢ Smart home automation systems .

Potential Applications

Future Plans

➢ Pozyx is planning to release Arduino libraries

and part of the firmware to the open-source

community.

➢ Research is currently in progress to enable wider

adoption of the UWB-enabled indoor positioning

system over competing products

available in the market currently.

➢ To reach out to developers and commercialize its

product, Pozyx Labs initiated a Kickstarter

crowdfunding campaign recently.

Commercialization Initiatives

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IndoorAtlas (Finland) supplies magnetic field-base positioning systems

Source: IndoorAtlas, Frost & SullivanIndoor positioning systems

Technology ProfileIndoorAtlas was founded as a spin

off from the University of Oulu,

Finland, in 2012. The startup is

focused on developing hardware-

free position tracking systems.

IndoorAtlas provides magnetic field-based

positioning systems for indoor applications. The

geomagnetic technology identifies the magnetic

fields inside buildings and a smartphone

magnetic sensor (compass) provides accurate

position location and mapping.

IndoorAtlas, Inc., is

Headquartered in Mountain

View, CA, and Oulu,

Finland, with Other offices

in Japan, China, and South

Korea.

Who

WhatWhere

Innovation Attributes➢ The company’s indoor positioning system (IPS) is a software-

based positioning system with no requirement for deploying

and maintaining hardware, with a positioning accuracy of 1 to

2 m.

➢ Steel embedded in modern buildings interferes with the

Earth’s magnetic fields that create a magnetic blueprint of the

building. This is sensed using an in-built technology (including

a magnetic sensor) within the smartphone.

➢ Wi-Fi and cloud platforms are used for optimization.

Application developers can use the accompanying software

development kit (SDK) to incorporate position-based services.

Potential Applications➢ Mobile gaming

➢ Indoor navigation system for large terminals, museums, public

halls, hospitals and so on in real time

➢ Location-based advertising and proximity marketing in retail

establishments

Funding

➢ Initially, the startup was funded by US venture

capitalist Mobility Ventures and Finnish seed

funder KoppiCatch for its potential. With

increased attention from large companies,

partnerships are now a current funding source.

Commercialization Strategy

➢ IndoorAtlas has commercial tie-ups with technology giants like

Yahoo!Japan for indoor positioning across Japan.

➢ SK Planet and IndoorAtlas are involved in a $3m partnership

targeting potential in the Online2Offline e-commerce segment.

➢ Baidu Maps has incorporated the company’s IPS for its Indoor

Location services.

Page 35: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

34Sensewhere (UK) relies on global navigation satellite systems for indoor positioning

systems for malls, public offices, airports and museums

Source: Sensewhere, Frost & SullivanIndoor positioning systems

1

2

Indoor positioning systems based on Global Navigation Satellite

Systems (GNSS) are limited by satellite signal blockage and limited

accuracy

A Wi-Fi positioning system that requires surveying the venue is

labor intensive, expensive, and not practical under certain

circumstances.

Problem

Statement

The positioning system is developed in

the form of a suite of distributed

solutions with limited dependency on

GNSS signals.

The location of the transmitters is

updated in real time as they are moved or

replaced. The data from the transmitters

are treated with confidentiality and are

not shared between them.

The system does not require explicit

calibration for utilizing Bluetooth Low

Energy (BLE) beacons such as

iBeacon or Eddystone

The technology is heavily reliant on the

concept of crowdsourcing. However,

the technology relies on indoor RF

signals (such as Wi-Fi and Bluetooth)

with less reliance on GNSS .

Innovation Attributes

Tech

Profile Wh

osensewhere Ltd., established in 2005,

is focused on providing exceptionally

localized indoor positioning software. In

addition, the firm is involved in

providing business intelligence to

location-based advertising and

marketing.

Wher

esensewhere Ltd., is headquartered

in Edinburgh, UK. The company

has an additional office in Mountain

View, California.

What

➢ The company has developed a proprietary and patented positioning system that

incorporates/integrates technologies where available, such as RF (radio

frequency) signals including Wi-Fi and Bluetooth.

➢ Sensewhere servers are fed with indoor signals from the phone’s motion sensors

and the GNSS of all transmitters in real time.

➢ The crowdsourcing method is used to update the databases of the servers to

provide a comprehensive database of the transmitters. A distributed system with a

Wi-Fi location engine is used for position determination via the triangulation

process. In venues where Bluetooth Low Energy (BLE) beacons are deployed,

BLE positioning similar to Wi-Fi positioning can be used.

➢ The existing hardware in the phone – such as a compass, gyroscope,

accelerometer, and barometer – are leveraged to improve accuracy in real time.

Market

Potential➢ The crowdsourcing-based positioning system

available in the form of an SDK can be integrated

with many applications. Thus, it has high potential in

location-based advertising in retail.

➢ Integration with social media applications

➢ Mobile phone manufacturers

➢ Indoor positioning system for malls,

public offices, museums, and airports.

The company is

collaborating with

navigational and

mapping product

producing firm, Tom

Tom to penetrate into

Indoor Positioning

System markets.

Fu

ture

Pla

ns

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Tourist’s Mobility: Smart Cities

Page 37: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

36There is a wide range of technologies, often from neighboring or even unrelated

spaces, which are shaping and/or enabling mobility solutions in Smart Cities

Sources: Frost & SullivanHighlighted technologies selected for their impact on mobility

By 2050, over 80% of the population in developed countries is expected to have moved to cities. This number is expected to be over 60%

for the developing world. The creation of Smart Cities enables a smooth transition to urbanization through the most optimal utilization of

resource to maximize value for the participants in the ecosystem. This value may be extrinsic as in financial, or intrinsic such as an

improvement in the quality of life, health, convenience or a reduced environmental footprint.

What are some technologies that will be most impactful to the evolution of smart cities?

There are many technologies that impact Smart Cities.

Ten of those, from a range of spaces, that are expected to have the most significant impact are;

• Distributed energy generation which leads to much greater efficiencies in energy management

• Smart glass which helps to reduce the environmental footprint of a smart city

• Personalized Medicine to move from a “one-size-fits-all” healthcare model to a more targeted approach

• AI which is expected to create predictive and prescriptive insights from data

• Robotics which are expected to increasingly automate dangerous and routine tasks

• Wearables which leads to real-time tracking of health and fitness, and improved patient outcomes

• Small Data which enables more efficient resource utilization

• High-strength, lightweight materials which leads to a reduced environmental footprint

• Vertical farming which will help combat space constraints and weather-related failures

Page 38: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

37Utilising smart glass in private and public vehicles can reduce energy consumption

and provide passengers with enhanced comfort and privacy

Source: Frost & Sullivan

Smart glass has the ability to change or tune the light or heat transmission in presence of an external stimulus. With advances in material

science and increasing usage of mobile apps for on-the-go customization, smart glass can be integrated in smart cities to enhance the

sustainability quotient. The integration of smart glass with IoT (Internet of Things) can positively impact the building automation systems,

which are focused on building centralized automatic control. BAS/HAS can control power, heating, ventilation, air conditioning (HVAC)

systems or lighting.

Ove

rvie

w

Residential and Commercial BuildingsThe installation of smart glass has the ability to control lighting in the room, improving the residents’ quality of life. It reduces the need for air conditioning, thereby, reducing energy consumption. Integration of IoT iallows building managers to provide optimum comfort.

Solar Cells Smart glass can boost the efficiency of solar cells. Incorporation of solar cells into smart window modules will result in energy generation and solar glare control effect at the same time. This can fulfill the aesthetic aspects while providing environmental benefits.

Digital Media FacadesThe integration of smart glass with IoT opens a new possibilities for a large-scale displays for commercial and digital signage. Compared to conventional advertising billboards, this can also transmit sunlights to room, ensuring indoor brightness.

Mobility Utilizing smart glass in public and private vehicles, including cars, trains, can reduce the energy consumption reduction and can provide passangers with more comfort and privacy. It can also optimize the use of HVAC systems.

Smart Energy Smart Buildings Smart Vehicles Smart EnvironmentKey Areas of Focus

Smart glass

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38

Artificial Intelligence agents will assess the density of traffic using GPS

Sources: Frost & Sullivan

Intelligent Mobility

Convergence of AI and LIDAR sensor will help autonomous vehicles to better interpret road signs, traffic lights, and detect

obstacles such as trees, other vehicles and pedestrians. Further, the built-in AI systems in the vehicle will drive it to near by gas

station or battery recharge station when it is running on low fuel.

Smart Parking

Artificial intelligence will be used in accurate parking and traffic management. AI will extract the information about nearby empty

parking spots using cameras installed on electric poles and will provide the information to drivers via smartphones. AI can also help

to keep track of parking inventory by using the technology called “license plate recognition” software. This will track the in-time and

out-time of cars in parking lots and charge them based on their parking hours.

Traffic Management

Artificial agents will assess the density of traffic using GPS and can control the traffic with adequate time slice as per requirement

and situation. This will reduce the commuting and idling time by intelligently routing vehicle and pedestrian traffic. The artificial

agent system equipped with neural networks and deep learning will train itself based on experience much like supervised learning.

Connected Infrastructure

Since infrastructure in smart cities are connected using different devices, chances of device getting hacked is very high due to out-

dated software, or due to a technical glitch in the connected device. Artificial intelligence will provide high level of security by

scanning every single device before it is connected to the infrastructure and ensure that all the software are updated, thereby

reducing the job of human security analysts.

Artificial intelligence

Page 40: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

39Wearables, like smart glasses and watches, can improve a driver’s experience and

safety during travel by tracking their vital signs for tiredness

Source: Frost & Sullivan

Communications, Personal Productivity

Wearable devices such as smart watches and bracelets

double up as activity trackers and fitness trackers.

Besides aesthetic appeal, wearable devices also provide

functional utility such as providing maps for guidance and

display alert notifications to the wearer.

Mobility and Automotive Applications

Smart glasses and watches can improve driver experience

and safety during travel. Companies like BMW, Nissan and

Mercedes have invested in technologies to track the driver’s

vital signs to warn when alertness begins to wane. Similarly,

glasses provide augmented visualization without the driver

having to look away from the road

Homeland Security and Defense

In 2016, the U.S. Department of Homeland Security

launched a program to develop discrete wearable devices

that could detect radiation and nuclear bomb threats.

Integrated sensors would track and monitor the vital signs of

defence personnel operating in harsh and remote locations.

Healthcare and Well-being

The use of wearables to track patient vital signs has been

well established. Increasingly, signs such as dissolved oxygen

level, blood glucose and brain activity are being monitored.

Less popular, but equally important healthcare applications of

wearables include the use of smart glasses during surgery.

Flexible ElectronicsAdvanced

CommunicationsLightweight Materials Rapid ChargingConvergence

One of the fundamental attributes of a smart city is that is wirelessly connected, propagating the idea of internet of things (IoT). In such an

environment which pools together data and makes it wirelessly available, it becomes important that contributing to that data pool and using

data from that pool should be done in real time. This is where wearable devices come in. These are miniature computing and

communication devices that can be worn on the body of the user. The current generation of wearable devices are designed predominantly as

watches and bracelets that enable two-way communications. In the future, these devices will be further miniaturized.Ove

rvie

w

Wearables

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40

High strength and lightweight materials are replacing metals in vehicles

Source: Frost & Sullivan

Potential Applications

Smart Manufacturing Smart Environment

Smart Building & Living Smart Transportation

Lighter and more mechanically durable materials are required for

construction of bridges, roads, and buildings in the residential and

public sectors. In order to decrease the overall weight of buildings

without compromising on durability, it is important to decrease the

overall mass of building materials such as bricks and concrete,

or to use reinforced materials in metal-based construction parts.

It is important to decrease the weight of light-duty and heavy-

duty vehicles in order to reduce the energy consumption. High

temperature-resistant plastics, carbon fibers, reinforced

composites have rising potential for use in vehicles.

Incorporation of nanoparticles for improved performance of

materials, such as strengthening metal alloys, is required to obtain

materials with high mechanical strength and defect-free surfaces.

This process allows to improve the performance attributes of

advanced materials, for instance, metal alloys for construction and

transportation in smart cities.

Higher sustainability quotient with longer lifespan and

increased recyclable content in materials are key for future

smart cities. The focus is also on replacing metals with lighter

composites and reinforced plastics.

High strength materials

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Tourist’s Mobility: Physical Security

Page 43: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

42The physical city surveillance market includes cameras, video analytics &

management systems and storage with the former accounting for 59%

Sources: Frost & SullivanImage Source: e.huawei.com, itbusiness.ca, asmag.com, securityinfowatch.com

Cameras

Storage

Cameras are devices used in a surveillance system to monitor and record events that occur on a real-time basis.

Surveillance cameras have evolved from analogue to IP surveillance cameras (HD and Infrared (IR) cameras) that

provide improved quality, visibility, and performance.

Video Analytics

Video Management

Systems

Video Analytics comprises a wide range of software solutions embedded in the surveillance systems to perform a vast

range of activities which include traffic monitoring and management, facial recognition, automatic license plate

recognition, crowd analysis, privacy masking, object detection and classification, etc.

The VMS or Video Management System is a management platform that lets the user view, control, and monitor the

real-time data recorded by the surveillance system from a centralised location or through mobile devices.

Storage systems are devices used to store large volumes of structured and unstructured data generated

by surveillance systems. Storage systems are moving towards more distributed architectures from physical storage

systems to accommodate the increasing demands to store

large volumes of data.

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43An increase in the deployment of solutions is driven by a desire to deter crime and

also to improve the operational efficiency of first responders

Sources: Frost & Sullivan

City Surveillance: Key Market Drivers, Global, 2017–2022

Drivers 1–2 Years 3–4 Years 5–6 Years

Crime deterrence H H H

Improving operational efficiency (force multiplier) H H H

Strategic planning H H H

Officers’ safety H H H

Impact Ratings: H = High, M = Medium, L = LowCrime Deterrence

• The constant threat of crime in public places, ranging from petty robberies to large scale attacks, continues to be a major cause of

concern in both developed and developing countries. The installation of public surveillance systems reduces the chances of a

criminal offence taking place as there is a higher probability of the perpetrators getting caught

Improving Operational Efficiency (force multiplier)

• Intelligent analytics solutions such as anomalous behaviour detection in crowded places identify suspicious patterns and

automatically triggering an alarm to the viewer. This in turn reduces the manual effort of law enforcement

personnel significantly and acts as a highly reliable force multiplier, allowing the deployment

of fewer skilled personnel

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44

Concerns around privacy and low budgets are, however, restraining growth

Sources: Frost & Sullivan

City Surveillance: Key Market Restraints, Global, 2017–2022

Drivers 1–2 Years 3–4 Years 5–6 Years

Breach of privacy H M M

Low budgets H M L

Existence of legacy systems H M L

Limited bandwidth M L L

Impact Ratings: H = High, M = Medium, L = LowBreach of Privacy

• Despite the growing need for surveillance systems, breach of privacy due to constant real-time monitoring is a cause of concern for

people, particularly in Western European countries such as the UK, France, and Germany where privacy protection laws are highly

rigid. However, the recent emergence of privacy masking analytic solutions ensures that stringent security is maintained whilst

preserving the privacy of people.

Low Budgets

• Constant technological advances in various segments of surveillance systems with a focus on improving resilience and security

require significant funding from governments. Whilst the developed countries in Europe and North America have sufficient

government funding, developing countries in Latin America and Africa lack the ability to allocate substantial

budgets for the deployment of advanced surveillance systems.

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45Overall, spending on city surveillance systems is forecast to grow at a CAGR of 4.1%

globally to reach $3.07b in 2022 up from $2.41b in 2016

Sources: Frost & Sullivan

Cameras will dominate market spending, primarily owing to the increase in digitisation and enhanced capabilities of cameras

to perform under challenging environments coupled with their decreasing costs. This will also lead to a steady increase in

spending on storage as increased surveillance is directly related to the better management of data

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3.500,0

2016 2017 2018 2019 2020 2021 2022

Cameras 1.422,1 1.479,0 1.538,7 1.601,3 1.667,0 1.736,1 1.808,8

VMS 120,5 125,3 130,4 135,7 141,3 147,1 153,3

Analytics 144,6 150,4 156,5 162,8 169,5 176,6 183,9

Storage 723,1 752,0 782,4 814,2 847,6 882,8 919,7

Rev

en

ue (

$ M

illio

n)

Year

City Surveillance: Revenue Forecast by Product Type, Global, 2016–2022

Page 47: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

46In the largest, camera segment, specialists such as Axis (Sweden) are competing with

more diversified companies such as Bosch (Germany)

Sources: Market participants, Frost & Sullivan

• FLIR

• AXIS COMMUNICATIONS

• DAHUA

• PELCO

• BOSCH

• HUAWEI

• HANWHA TECHWIN

• SONY

• PANASONIC

• HIKVISION

• HONEYWELL

• TYCO

Key Suppliers

• Price–Price is one of the key factors influencing surveillance system end users. Customers are

looking for cameras that ensure robust security as well as cost effectiveness.

• Ease of Use–with the increasing technological capabilities of digital cameras, ease of use

becomes a crucial factor from an end user’s standpoint. Whilst analogue cameras previously

required extensive expertise for installation and operation, the wireless IP cameras in the market

come with easily deployable instruction manuals.

• Reliability–Customers are looking for cameras that can ensure supreme performance

effectiveness even under extreme challenging conditions such as fog, rain, and snow.

• Brand Recognition–despite the emergence of a number of new suppliers in the market, brand

value plays a pivotal part amongst customers. Customers prefer brands that have a strong

market presence with large customer bases, as it is an indication of product excellence.

• Interoperability–Interoperability is another key competitive factor for suppliers. Customers are

looking for customisable IP cameras that are accessible from anywhere and also capable of

working with other digital cameras and existing legacy cameras.

• Technological Capabilities–customers are looking for IP cameras with advanced capabilities

such as infrared for enhanced visibility, PTZ and 360 zoom for increased coverage, and

intelligent analytics to trigger alarms in the event of a breach.

Key Competitive Factors

Page 48: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

47Cameras find their application in a number of environments; wall-mounted, outside

fixed box solutions account for ~25% of the global market

Sources: Frost & Sullivan

For law enforcement purposes, cameras are generally located outside. Installation depends on the

urban environment and the surrounding (whilst surface, recessed, and parapet installations favour the use of dome

cameras, wall and pole installations are more suitable for fixed box)

City Surveillance: City Surveillance Installation Type, Global, 2016–2022

Installation TypeSpeed Dome Fixed Box Fixed Dome 360-Degree

Outdoor Indoor Outdoor Indoor Outdoor Indoor Outdoor Indoor

Surface - - - - 20% - - -

Recessed - - - - 5% - - -

Pendant - - - - - - - -

Wall 5% - 25% - 10% - 5% -

Pole - - 15% - 5% - 5% -

Parapet - - - - 5% - - -

Page 49: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

48From a technology perspective, there is a clear shift away to HD IP video cameras

which offer better visibility and more accurate monitoring

Sources: Frost & Sullivan

• The glaring limitations of existing analogue cameras such as poor image quality, poor security, and inability to

perform under intense environmental conditions have driven the need for better, smarter, quicker, and more

scalable surveillance cameras to accommodate user needs more efficiently.

• Law enforcement agencies in cities have increasingly adopted high definition (HD) IP surveillance cameras

with advanced pan, tilt, and zoom capabilities for better visibility and more accurate monitoring and detection

and shorter response time in public places.

• The IR capability of thermal cameras to function under intense environmental conditions such as extreme

weather and poor lighting conditions on a 24x7 day/night basis offers smart cities the perfect solution for public

safety.

• The availability of encoder systems in the market ensures a seamless transition of legacy analogue systems to

IP surveillance cameras, whilst making the exercise cost-effective.

• Decreasing prices IP surveillance cameras will pave the way for their greater deployment and a shift in

investment towards intelligent user analytics and more robust storage systems to accommodate increased

volumes of data.

• The total number of IP cameras for city surveillance is expected to increase steadily from 17.2 million to 21.3

million across the forecast period, recording a CAGR of 3.6%. This is expected to be primarily driven by smart

city projects. On the other hand, analogue camera growth will taper from 7.02 million to 7.7 million, recording a

CAGR of 1.6%. This will provide suppliers with the perfect opportunity to offer IP cameras

with increased functionalities whilst ensuring cost-effectiveness.

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49

Video analytics for traffic management are expected to become hot spots

Sources: Frost & Sullivan

City Surveillance: Key Analytics, Global, 2016-22

Key Analytics

Requirements of

End Users

Parking Space

Analysis

Facial Recognition

Technology

Metadata Searching

Crowd Behaviour

DetectionTraffic Management

Automated Number Plate

Recognition (ANPR)

Privacy Masking

Object Detection and

Classification

Page 51: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

50

...

• TBC

Tourist’s Mobility: Cyber Security

Page 52: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

51The cyber risk to smart cities requires a high level of planning; many governments

today are still grappling with the complexity of the challenge

Sources: Frost & Sullivan

Top Cyber Security Threats for Smart Cities, Global, 2016–2020

Malware in free public Wi-Fi

Hacking of public cameras and traffic

signals (devices and sensors)

Access to private healthcare data by

inducing worms

Altercations in governments’ open data

initiatives

DDoS attacks or ransomware attacks on

smart grids

Identity thefts (digital identity and smart

cards)

Threat Level Type of Solution Needed

Proactive

Proactive

Responsive

Responsive

Deductive

Proactive

Responsive

Reactive

Low High

Threats for Smart Cities

DDoS = Distributed Denial of Service

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52

In general terms, effective cyber security relies on three principal pillars

Sources: Microsoft, Frost & Sullivan

Three Technology Prerequisites of Smart Cities

Robust Cloud Last-mile Connectivity Cyber Security

Three Pillars to Action—Cyber Security in Smart Cities

Protect across all endpoints, from

sensors to the data center

Detect all security issues using machine

learning and monitoring activities

Respond by closing the gap between

discovery and action

P

RDCyber Security

Page 54: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

53With increasing connectivity, areas within cities which attract significant levels of data

exchange are the most open and vulnerable to attacks

Sources: Frost & SullivanCERT = Community Emergency Response Team

Vulnerabilities of Smart Cities and Their Impact, Global, 2016

Impact on Smart Cities

Low

Divided or lack of protocol

Cross platform communication

Poor or no network security

No prior security testing

No CERTs and no incident records

Lack of security awareness

Encryption Issues

No uniform standard across project implementation

Government People/End Users VendorsHigh

Smart City Vulnerabilities Verticals

Page 55: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

54Smart city stakeholders must collaborate to create an integrated, end-to-end security

infrastructure, with a focus on secure citizen services

Sources: Frost & SullivanPPP = Public-private Partnership

Smart City: Roadmap to a Safe Smart City, Global, 2016

Governments People/End Users Vendors

Cyb

er

Se

cu

rity

Ro

ad

ma

p Steps to Address Smart City Cyber Security

Challenges and Vulnerabilities

Participation Level of Stakeholders

Set Up Laws and

Frameworks

Create Awareness

Goal

PPP Infrastructure

and Solutions

Maintain

AB

CD

Low High

• Set up network and information security agency

• Set up national cyber security council

• Security testing before implementation

• Risk mitigation and recovery teams

• Secure digital access, data, and sensors

• Create city and nation-wide CERTs

• Develop frequent security audit teams

• Fix security issues as soon as they are discovered

A

B

C

D

Page 56: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

55Globally, device encryption, biometric & digital ID and smart grid management

solutions are at the forefront of the fight against cyber crimes

Sources: Frost & Sullivan

Cyber Security and Its Relevance to Smart Cities, Global, 2016–2020

Re

leva

nc

e t

o

Sm

art

Cit

y

• Threat and fraud analytics

• Biometrics and digital Identity

• Device encryption solutions

• Threat intelligence solutions

• Large-scale incident monitoring and

response platforms

• Smart gird management security

• Biometrics and digital identity

• Monitoring solutions

• Smart Infrastructure protection solutions

• Video surveillance solutions

• Endpoint security

• Risk assessment solutions

• Command center and communications

• Blockchain implementation

Traffic and Monitoring Energies and Power

Citizen Services

Mobile Applications Internet Connections

Connected (e.g., home,

office, and car)Medium High Very HighNascent

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56

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• TBC

Tourist’s Mobility: Airports

Page 58: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

57Increased digital proficiency across product and services, enterprise operations and

customer experience, will reshape the aerospace industry

Sources: Frost & Sullivan

Digital

Evolution

Digital

Proficiency

Digital

Fundamentals

Product and

Services

Enterprise

Operations

Customer

Experience

Total Airport

Management

Autonomous

Services Augmente

d/Virtual

RealityIntegrated

Security Artificial

IntelligenceSelf-service

Biometrics

IoTMobility

Big

Data

Connectivity

Cloud

Security

Digital Platforms

Common-use

Business

Intelligence

Page 59: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

58For airports, technology offers a solution to challenges, such as high passenger

growth, that legacy systems will not be able to adequately address

High Passenger Growth

New Business Models

Interoperability and Collaboration

Government regulations and

competition have resulted in a

price cap on aeronautical fees.

Operators need to find

innovative business models to

make revenue.

Passenger Satisfaction

High passenger throughput

creates strain on infrastructure.

Many airports are physically

constrained in their efforts to

support rising traffic flow.

Digitalization aids in

management of flows.

Airport infrastructure is fraught

with numerous systems that are

isolated from each other and

generate incompatible data.

These silos render data

collaboration unviable.

Low service quality,

mismanagement of facilities and

resources, long queues,

insufficient parking and complex

journey paths increase

passenger stress and

dissatisfaction.

Sources: Frost & Sullivan

Transition to ‘Smart’ Airport

Development of technology,

the need to reduce costs,

journey time, and automate

services represents a dynamic

shift in the airport business

model.

Operational Efficiency

Stakeholder Alignment

The business priorities and

privacy concerns of various

stakeholders hinders sharing

and collaboration of critical

information. Digital endeavors

can aid in overcoming

challenges.

Stagnant aeronautical revenue,

increasing operational delays

and stringent security measures

highlights the need for a

standardized digital model for

airports that streamlines

processes.

Sources: Frost & Sullivan

Page 60: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

59The pace of change is however slow with only 32% of airports globally having

completed their digital transformation programs by the end of 2017

Top Digital Transformation

Challenges

• Resistance to change

• Training and expertise

required

• Implementation cost/

financial investment required

• Privacy and security

implications

• Ambiguity on standards and

regulatory policies

• Disruption to work processes

• Lack of clear business

information strategy

• Low or uncertain financial

returns / ROI

?

Less than half of global airports have undertaken digital initiatives. Large hubs and large point-to-point airports make up a majority of airports that have implemented digital programs.

Although digital transformation programs are in the nascent stages, airports acknowledge the importance of these programs.

While many departments are averse to the transition from a ‘well-oiled’ system, airports are generally hesitant to adopt digital strategies due to the costs involved, system downtime and limited clarity on standardization.

32% 68%

Done To do

Rate of Adoption

Airport Digital Transformation: Implementation

Progress, Global, 2017

Sources: Frost & Sullivan

Page 61: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

60Overall, spending on technology from airports is forecast to grow at a CAGR of 3.8%

globally to reach $4.63b in 2023 up from $3.56b in 2016

Sources: Frost & Sullivan

Airport Digital Transformation: Airport IT Spending Forecast, Global, 2016–2023

3,56 3,73 3,90 4,05 4,19 4,33 4,48 4,63

3,00

4,00

5,00

2016 2017 2018 2019 2020 2021 2022 2023

Sp

en

din

g

($ B

illi

on

)

Note: The forecast reflects spending on software and related applications that form an integral part of digital technology. IT systems include

operational control systems, common use software and applications (web, mobile), baggage management software, airport management,

Business Intelligence software, billing and revenue management systems. The forecast does not include baggage handling systems, cargo

handling systems, self-service systems, hardware applications, airport equipment and security screening systems.

• Airport spending on digital technology is forecast to grow at a CAGR of 3.8% from $3.56 billion in 2016 to $4.63 billion in 2023.

• Apart from general IT infrastructure and maintenance, airports are investing in passenger service- oriented technology such

as self-service passenger processing solutions, baggage management systems, common use solutions, flight information

display systems and passenger flow management solutions.

• Airport IT spending is growing faster than total airport operating expenditure, making up 6.0% to 9.0% of total

OPEX for a majority of airports.

Page 62: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

61The proliferation of technology suppliers is paving the way for partnerships,

acquisitions and investment in R&D to meet airports’ requirements

Sources: Market participants, Frost & Sullivan

Master Systems

Integration

Global Leaders

Passenger ManagementAirport Management Security ManagementBaggage Management

Infrastructure Management

Information and Communications

Landside Management

IT & Data Storage

IBM

Business Intelligence

Selected players

Page 63: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

62

Digital transformation is making itself felt in all critical operational processes

Source: Frost & Sullivan

Passenger Operations Airport Operations Safety and Security

The adoption of various operations

management systems and

analytical tools provide operators

with greater control over traffic flow

and resource management.

Digital technology has transformed

the passenger journey with the

implementation of solutions that

enhance passenger processing

speeds, reduce queues and ease

the journey.

The implementation of integrated

cameras, access gates and safety

measures across the building

secures passengers, employees

and critical operations from attacks.

Administration and Finance

The proliferation of software tools

and applications have transformed

airport administration and revenue

management from a manual to an

automated process.

Baggage Operations Infrastructure Management

Technology allows operators to

control the airport environment from

a centralized system. The system

helps airports to reduce wastage

and minimize carbon footprint.

A number of digital initiatives have

been implemented to track and

monitor baggage, prevent baggage

loss and ensure passenger is aware

of baggage status.

Page 64: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

63While large and point-to-point airports have invested in digital transformation

programs, technology is not yet a priority for many regional airports

Source: Frost & Sullivan

Airport Digital Transformation: Deployment of Digital Technologies, Global, 2016

Base: All respondents (n=50).Q20. Which of the digital technology listed underneath are already deployed at your airport and which ones are you planning to deploy.

Display Systems

General IT Infrastructure

Baggage Tracking/ Reconciliation

Airside Technologies

Asset Management and Planning

Digital Marketing

Passenger Flow Management

Business Intelligence and Analytics

Self-service Systems

Common Use Platforms

Location-based Service solutions

Collaborative Decision Making

Advanced Screening Systems

Ground Mobility Platforms

Cloud Data Platforms

Biometrics / Smart Security Gates

Smart Parking

68%

70%

44%

58%

44%

50%

48%

46%

48%

50%

42%

34%

28%

26%

29%

22%

20%

28%

22%

38%

24%

34%

26%

28%

30%

26%

22%

22%

26%

32%

32%

25%

24%

22%

6%

12%

12%

12%

16%

18%

20%

24%

26%

28%

20%

36%

32%

37%

42%

36%

6%

10%

8%

10%

16%

8%

6%

10%

6%

6%

96%

92%

82%

82%

78%

76%

76%

76%

74%

72%

64%

60%

60%

58%

53%

46%

42%

Already deployed, upgrade planned Already deployed, no upgrade planned Plan to deploy by 2020 No plans to deploy Don't know

Page 65: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

64

Leading airports are moving from “Airport 2.0” towards a data driven strategy

Source: Frost & Sullivan

Data Ignorant Data Driven Strategy Data Exploitation

• Analogue

• Wired communication

• Multiple and unconnected

IT systems

• Limited data

• Significant data silos

• Digital transformation

• Wireless communication

• Integrating systems and

data

• Increasing data

• Reducing data silos

• Digital Everything

• 4G LTE

• Integrated systems and

agile infrastructure (cloud

based)

• Big Data

• Data driven support and

decision making

• Digital ecosystem and

connected travel

experience

• 5G

• Intelligent infrastructure

(machine learning and

robotics)

• Multi-source data

correlation, and predictive

and prescriptive analytics

LeadersLaggards

2020–2025 2025–2030

Airport 1.0 Airport 3.0 Airport 4.0

Present

Airport 2.0

Data Enlightenment

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65

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Tourist’s Mobility: Airlines

Page 67: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

66Airlines’ digital transformation programs break out into five main work streams and

have the potential to generate an additional $5-10 per passenger

Source: Frost & Sullivan

• A digital transformation program in a medium-sized airline with basic IT infrastructure may take 3-5

years to be completed.

• The incremental value of such a program could reach up to $5-$10 per passenger annually, mainly

generated via improved productivity, cost savings, and new ancillary revenue streams.

Airline Digital Transformation: Digital Transformation Program, Global, 2017

DT Workstream Components

Business IntelligenceData centralization (passenger, finance, performance, budget, capacity, flight/weather information,

baggage/cargo/fueling, commercial, directories), analytics

Digital Marketing Content management, distribution, CRM, loyalty, ancillary products, e-Commerce, m-Commerce

Core Airline Services PSS, revenue management, MRO, flight operations, airport operations, catering systems, network planning

Corporate Services ERP, PMO, finance/billing, SCM, resource management, asset management

Infrastructure IT, data centers, cloud, cyber security, centers of excellence (CoE), sensorization, workplace

1

2

3

4

5

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67

There are a range of market trends that necessitate a digital marketing strategy

Source: Frost & Sullivan

Industry marketing budgets are now being re-directed to digital formats; dominance of digital formats over

traditional media

Growing demand from corporates to connect directly to airlines, bypassing intermediaries, such as travel

agents; this requires direct connect technology

Two opposing forces in product structures: Product Unbundling versus Value-Add Bundling; requires

customer insights

Consolidation in the Online Travel Agent (OTA) industry; airlines need to engage with OTAs and provide

digital data when needed

Emergence of Mobile Travel Agents (MTAs); airlines require right mobile strategy

Emergence of metasearch in flight search; there is need for rich, high quality data from airlines the market

Emergence of customers that are users of new technologies and open to share data; further need for

customization and focus on customer experience

Page 69: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

68Overall, the “digital passenger journey” mirrors the physical journey with digital touch

points all along the way, including in pre-, post and in-travel

Passenger Journey

Inspiration Booking Pre-Flight To/From Airport Post-TravelSearch Flight

Web Mobile Kiosk Social Call CenterAssisted

Service/Sale

Agent Sale/

Service

Digital Touchpoints

Marketing Activities/Intermediaries

Metasearch

Online Ads

Traditional Media

PR

Social Word-of-

Mouth

Metasearch

OTAs

TAs

TMCs

Direct

Destination

Marketing

Self-Service

Airport

Service

Personalization

Loyalty Management

Disruption

Management

Ancillary Cross-

/Up-Sell

Source: Frost & Sullivan

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69

Passenger segmentation is a key prerequisite for effective digital marketing

Source: Frost & Sullivan

Passenger

Interaction

Digital

Management

Enterprise

Information and

Integration

Business

Process

Management

Core Airline

Applications

Digital

Operational

Support

Data

Management

Content Management

System (CMS)

Digital Asset

Management (DAM)

Multi-channel Analytics

Campaign Management

Multi-Variant Testing

Dynamic Creative

Optimisation (DCO)

Key Digital Marketing ProjectsDigital Marketing Process

Management

Focus

Areas

Passenger Segmentation

Loyalty Platform

Mobile Application

New Distribution Capability

Contact Centre Automation &

Virtualization

Branded Fares

Social Media Management

Merchandizing

Page 71: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

70Airports, airlines and others should use digital marketing tools to identify and

influence high value customers and customise their services accordingly

Source: Amadeus, Frost & Sullivan

Airline passenger segmentation starts with the requirement to increase customer satisfaction through cross-channel engagement

When to interact?

Identification of passenger journey stages

that provide the most attractive marketing

opportunities.

What level of personalization?

Customize solutions by building long-term

relationships and making sense of past

interactions.

What type of offer?

Develop the right products and services and

deliver at the right time and place.

What experience?

Understand the passenger needs and

wants. Business travelers are different

from leisure travelers.

How to interact?

Understand the right technologies and

mediums to interact with passengers.

What level of interaction?

What is the right level of interaction with

passengers to enhance their experience and

improve commercial revenues.

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Innovation: The role of Space

Page 73: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

72Regulatory developments across the globe between 2018-2022 will enable the

expansion of the space industry and provide users with new products & services

S TW O

Strengths:

• New technologies

• Cheaper hardware

• Small form factor sensors and payloads

• Multiple commercial players

Threats:

• Reduced government involvement

• Business models not realizing required funding

for commercial operations

• Customers resisting migration to new frequencies

• Lack of suitable terrestrial solutions

Weaknesses:

• Delay in launch schedules

• Expensive launch prices

• Lack of sufficient ground infrastructure

• Irregular capacity usage

• Airspace regulations

Opportunities:

• Dedicated and cheaper launch services

• Connectivity over remote locations

• New high frequency services

• New business models

Source: Frost & Sullivan

Page 74: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

73By 2030, over 13,000 satellites will be launched and space tourism is expected

to be one of many emerging business models

Source: Frost & Sullivan

Timeline

2016-2029

Scheduled small satellites

launch services

(30 potential players)

Spaceport-based

business models (US and

UK leading the game)

8,504 small satellites

to be launched

6 SBAS and 4 GNSS

(and regional) systems delivering

NAV services

Air launched and other

range-independent launch

capabilities

Additive manufactured

space hardware for satellites and

launch vehicles

Serial production of satellite

and launch hardware to meet launch

schedules

Broadband and narrowband

services to remote locations

via satellite

Space tourism business

models and high speed

air travel

13,462 satellites

to be launched

Page 75: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

74Services enabling sub-orbital flights will begin in 2019, leading to high speed air travel

services by 2025 and, eventually, an established “spaceline” market

Source: Frost & Sullivan

Operations

covering sub-

orbital flights and

high speed air

travel by

2025

UK Space Industry

Bill 2017: Enabling

spaceport business

Commercial astronaut training center in the

UK: Blue Abyss: GBP 120 million,

to be ready by 2020

Abu Dhabi building spaceport: High speed

air travel; consequence of

space tourism efforts

SpaceX: Manned orbital

test flights (lunar) in 2018

World View: Multi-day

mission test in 2017; manned balloon flight

by 2020

Virgin Galactic: Test

flights in 2017; scheduled operations by

2018

China‘s Kuang-Chi Science: Balloon- based spaceflight;

complete trials by 2020

Japan‘s PD Aerospace:

Trials by 2020; operations by 2023

New commercial

spaceflight

business models

by 2019

By 2019, the market will be ready for scheduled operations

By 2025, this market will have a $1.2 billion addressable market

INDUSTRY DEVELOPMENTS

Page 76: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

75Orbital flights have the potential to reduce long haul air travel time by 80% and will

need the development of “spaceports”

Source: Frost & Sullivan

Air Breathing Rocket Engines

Single stage to orbit capabilities will enable such high speed air travel operations connecting spaceports across the globe.

Spaceport Dominated Markets

This service will utilize spaceport- based

business models, enabling them to realize

revenues from individuals and organizations

Industry on Its Own

The commercial spaceline business will

represent a market segment of its own,

adding to the orbital launch market

Enhanced Personnel Deployment

Organizations will be able to deploy key

personnel across regions on-demand,

enabling the reduction in remote

participation in events of significance inside

and outside the business

Public Private Partnerships

Collaborative business models engaging government

and private entities will help to scale

up the market, globally

Standardized Production

Scheduled operations will depend on

standardized hardware and production processes

Enabling High Speed Mobility

The business model will be built on existing rocket

technologies, optimized for civilian human travel

Next-gen, Long Haul Flights

Elon Musk’s aspiration is aimed at enabling high speed

mobility across the planet, rendering international long haul

travel synonymous with local short haul travel

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76Later this year, NASA will launch its Ionospheric Connection Explorer which is aimed,

among other things, at supporting the development of space tourism

Orbital

ATK Application

Earth Observation:

Atmospheric Imaging

(Assessment of ionized

gas attributes) for Fringe-

Risk Assessment

Launch Service

Provider

LEO/SmallSatellite

Type

Source: Frost & Sullivan

NASA will also be able to

guide space tourism business

models and help high-speed

air-travel capability developers

better understand the impact of

variables in the fringes.

Space weather services

provider will benefit from this

data.

NASA’s earth observation

mission to understand the

variable nature of the fringes of

earth’s atmosphere.

To better understand the

ambiguities imposed on all

space missions when they

cross the fringe regions and

to plan for data that can

support other atmosphere

bases risk assessment for

space and aeronautics

applications.

Inter-continental ballistic

missile systems will get

suitable upgrades and

revisions to their flight modes

when this data is utilized

extensively. This indicates

the operator is planning to

support the government’s

missile offence and defense

capabilities.

OpportunitiesWhat Why Implications

Source: NASA, Frost & Sullivan

Page 78: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

77Development of the space industry will also enable satellite-guided airport operations

and seamless flight tracking by 2023

Increasing

Commercial Aviation

Traffic

Increasing

UAV Usage

in the Military DomainProliferation of Commercial

Drone Applications

Evolving Satellite

Guided Air-side

Operations

Evolving Regulatory Framework Covering Civil Airspace

Cooperative hunting architectures

evolving towards autonomous,

collaborative UAS missions

Autonomous UAS Missions

FAA is yet to comprehensively

regulate drone-based delivery

capabilities

Future of Drone-based LogisticsPerformance-based navigation

capabilities enabling aircraft access to

airports in low visibility conditions

RNAV Using

Augmentation Systems

Satellite-based flight

tracking for enhanced ETA

assessments and safety

ADS-B-based

Flight Tracking

Legal regulations for commercial drones in

effect since August 2016

Comprehensive Civil Airspace Management

Satcom for Onboard

Wi-Fi and Cockpit

ConnectivitySatellite-based seamless

connectivity for safety and

enhanced passenger experience

• Satellite operators in the connectivity

domain will deliver high throughput

connectivity

• Augmentation systems will deliver

precise navigation services

• Seamless integration of commercial

drones into civil airspace

Air Traffic Management: 2025 and Beyond

Evolving Air Traffic Management

Source: Frost & Sullivan

Page 79: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

78On the ground, automotive OEMs will benefit from the deployment of more

sophisticated satellites to implement their assisted/autonomous driving programmes

Enhanced Navigation Enhanced Assisted Driving

Autonomous

Cars and Fleets

GNSS and

Augmentation

Systems

Satellite Imagery and

Mapping Solutions

Communication

Constellations and

Connectivity Solutions

Safety and Value-

added Services

Enhanced Telematics

Autonomous truck executed

first of its kind fully

automated delivery of

shipment [October 2016]

Autopilot system provides

driver assistance through

system-guided navigation,

vehicle control and

obstruction detection

The Platoon Challenge

in Europe witnessed

automated fleet

operations

2025 and BeyondKey Attributes

Evolved regulatory framework, autonomous vehicles, assisted

driving capabilities, onboard services via telematics

Impacts Enhanced revenue opportunities for incumbent and new

players Entry of new customer groups

Global

PresenceGlobal

Adoption2020 20252023

Source: Market participants, Frost & Sullivan

Page 80: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

79Rail networks across the globe will similarly leverage satellite-based services to

enable fully automated operations by 2030

Source: Frost & Sullivan

SteadyVolume of

Goods Being Transported

Via Rail

ReducingOverall Rail

NetworkCoverage

Increasing Frequency and

Proximity of Locomotives

IncreasingSafety Risks

and Efficiency Losses

EnhancedGuided Rail

Traffic Management Trend

Sequence

Driving

Evolution

• Closely positioned locomotives

• Enhancing the utilization of rail networks

Satellite Guided Navigation Services

• Augmentation Systems and Connectivity

over Remote Locations

Key Space Segment Evolutions to Materialize

Automated rail traffic

management enabling

cross-network safety and

reduced delays and

congestion

2030 and Beyond

8.000.000,0

8.500.000,0

9.000.000,0

9.500.000,0

10.000.000,0

10.500.000,0

20072008200920102011201220132014

Year

Go

od

s T

ran

sp

ort

ed

(Millio

n-t

on

-km

)

Goods Transported via Rail,

Global, 2007-2014

• Enhanced voice and data

communications

• Efficient traffic and logistics

operations

Satcom Capabilities for

Efficient Operations

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80

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Innovation: Flying Cars

Page 82: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

81Flying cars can be segmented into two broad groups; those that can be operated both

on the road and in the air, and those that can be operated in the air

Sources: Frost & Sullivan

Flying Cars: Vehicle Segmentation, Global, 2017

Image sources: Popsci; CNET; Daily Mail; Ehang; Aerofex; Hoversurf

Next-generation Personal Flying Vehicles/Flying Cars

Roadable Aircrafts Roadable Gyrocopters Passenger Drones Hover Bikes

• Terrafugia Transition

• AeroMobil V3

• PAL-V Liberty Pioneer • Ehang 184

• Cormorant Air Mule

• Aerofex Aero-X

• Hoversurf

• Winged aircraft

• Can be operated on

air and land

• Propeller-driven aircraft

• Can be operated on air

and land

• Drones capable of

carrying people

• Can be operated

only in air

• Vehicles resembling

motorbikes, which can hover

• Can be operated only in air

Page 83: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

82The search for alternative modes of transport, a burgeoning suburban population and

ever-improving technologies are all factors driving their development

Political

Economic

Social

Techno-

logical

Legal

Environ-

ment

PESTLE

Issues Impact on Flying Cars Industry

Governments globally are investing in smart

cities and looking for innovative ways to

address traffic congestion.

Governments open to new ideas would augur well for flying

cars to be considered as a serious alternate form of travel for

the future.

Globally, the number of dollar Millionaires

is set to rise 46.2% by 2020

The initial target market for flying cars would be the affluent; it

is positive that the target market is expanding.

In the United States alone, 600,000 people

travel 90 minutes or at least 50 miles to get to

office.

Creates opportunities for flying taxi operators to cater to the

suburban population that travels to cities for work every day

The advent of advanced GPS, sensors,

autonomous and battery technology

Technology suitable for developing a robust and safe flying car

is available now more than ever before

Rules and regulations for flying cars still in the

nascent stage

Rules and regulations are likely to be a big restraint for the

flying car industry to achieve successful mass

commercialization.

Emphasis on conserving forests and reducing

energy consumption

Green energy fuel is key for the success of flying cars. Vertical

takeoff and landing eliminate the need to destroy forests for

developing new airports.

Source: Forbes; Frost & Sullivan

Page 84: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

83Regulatory hurdles and safety issues are the key challenges that OEMs must

overcome to win customers’ confidence and achieve mass commercialization

Source: Frost & Sullivan

Rules & regulations

Human Errors

TakeOff and

Landing

Safety

Hacking

Noise

Fuel Range

Air Traffic Control

• Flying cars have the challenge of meeting both the

stringent air and road rules and regulations.

• In future, when numerous flying cars traverse

the sky, accidents due to human error are a

distinct possibility.

• It is impractical to have long airstrips for

flying cars to take off and land everywhere.

• If airports must be used for this, it again

adds to traffic congestion while travelling

from the airport to the intended destination.

• Flying cars need to have foolproof fail-safe

mechanisms to counter any unexpected

crisis that may arise mid air.

• The efficiency of the flying car depends

on the distance it can travel without

refueling/recharging.

• Range and fuel efficiency are limited in

electric models under development.

• When the airspace is filled with

flying cars, providing an optimal

flight path to ensure that they do

not collide with other or other

obstacles will be a challenge.

• As vehicles become more

digital and software driven,

they are increasingly

susceptible to hacking.

• Noise from the propellers and

engine is a serious issue. If

flying cars are to become a

mainstream mobility solution in

future, this needs to be

addressed.

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0

100.000

200.000

300.000

400.000

500.000

600.000

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Price and Launch Year

Year of Launch

Xplorair PX 200

Ehang 184

PAL-V Liberty

Pioneer

PAL-V Liberty

Sport

Terrafugia

Transition

Volocopter

Aerofex

Aero-X

Joby

S2Malloy

Hoverbike

Pri

ce (

$)

84More than ten specialized flying car manufacturers are racing to launch their vehicles

in the next five years and gain a competitive advantage as first-movers

Source: Market Participants, Frost & Sullivan

• Roadable aircraft and manned drones set

to be launched in the next 5 years are

expected to be in the price range of

$200,000–$600,000

• Hover vehicles such as the Aero-x and

the Malloy Hoverbike are expected to be

priced between $60,000 and $100,000.

• Companies such as Airbus, Cormorant,

Carplane, and Lillium are also expected

to release their versions of flying cars in

the next 5 years, although they have not

revealed the price of their vehicles yet.

Flying Cars: Impending Avalanche of Launches, Global, 2016–2026

Page 86: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

85Tech companies such as Google as well as aircraft and automotive OEMs (e.g. Airbus

or Toyota) are expected to enter the market in the slightly longer term

Source: Market Participants, Frost & Sullivan

Flying Cars: Current Participants Snapshot, Global, 2017–2035

Company Name Notes Industry Sign

Airbus Airbus is developing a flying car that it plans to test by the end of 2017.Airlines

UberUber envisions a flying car taxi service and is working toward enabling the

commercialization of flying cars.Ride Hailing

GoogleGoogle founder Larry Page funded two flying car start-ups Kitty Hawk and Zee.

Aero recently.Technology

Ehang China-based Ehang has developed a passenger drone, which is in the final stages of

testing.Drone

AeroMobil, Terrafugia AeroMobil and Terrafugia are two flying car companies that have developed

prototypes.

Flying Car

Specialists

Northwestern

University

Students from Northwestern University’s start-up incubator are working on developing

a flying car by 2024.Universities

DARPADefense Advanced Research Projects Agency (DARPA) has funded companies to

develop a transformer-type flying car.Defense

Toyota Toyota was recently awarded a patent for “Aerocar,” a shape-shifting flying car.Automotive

Page 87: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

86Flying cars have the potential to address a wide range of public and private end-uses

including personal mobility, recreation, and emergency response

Source: Frost & Sullivan

Flying Cars: Key Applications, Global, 2017–2035

Shuttle service ferrying employees to

workplace, ride hailing service such as Uber

Competitive tournaments beyond just recreation

Assessment of vast lands of crops,

precise delivery of pesticides and fertilizer

Rides in amusement parks, sightseeing,

part of important ceremonies

Mine detection, troop & cargo transportation,

and ambush mitigation, border patrol

Accident response, first aid, airlift of

passengers

Disaster assessment, delivery of essential

commodities, rescue and airlift

Urban policing, riot control, hot pursuit

Military

Air Ambulance

Police Patrol

Disaster Response

Landscape mapping, natural gas pipeline

inspection and repair, logistics escorts

Ownership of flying cars by the general

population for everyday mobility needs

Surveillance

Air Taxi

Flying Car Race

Recreation

Agriculture

Personal Mobility

Service Business Model Profit Business Model

Page 88: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

87Autonomous flying and Vertical Take Off and Landing (VTOL) technologies will be key

and will require manufacturers to make significant R&D investments

Source: Frost & Sullivan

Flying Cars: Technology Mapping, Global, 2017–2035

Pro

jec

ted

Im

pa

ct

on

th

e M

ark

et

High

Impact

Low

Impact

Technology Availability

Low High

High Capacity

Batteries

Autonomous Flying

Artificial

Intelligence

Biometric

Sensors

VTOL

Communications

Low Noise Pro-

pulsion Systems

High Growth Impact

Low Growth

Impact

Medium Growth

Impact

GPS Navigation

Light weight materials

Cybersecurity

Page 89: Tourism Overview · 2 Market Trend #1 Source: Amadeus, Frost & Sullivan Tourists Tribes Frost & Sullivan and Amadeus have segmented travellers into six main “tribes”

88The flying cars industry is nascent but testing is under way and commercial launches

are expected by 2025; in 2040-50, they could become truly disruptive

Source: Frost & Sullivan

Flying Cars: Competitive Analysis—A Peek into the Future, Global, 2000–2050

2000Time

Mark

et

Valu

e

2025 2050

Nascent Pilots Growth Disruptive

Focus on Innovation

• The market is currently in this

stage.

• There are several small and

large participants in this very

nascent market.

• Rules and regulations are

major barriers.

• The market mainly consists of

disruptive start-ups and some

key aerospace companies.

Focus on Safety

• At least 15 different companies

to launch flying cars

• Commercialization to begin with

recreational applications

• Automotive OEMs to enter the

market with prototypes

• Evolution of rules and

regulations

• Evolution of supporting

infrastructure

Focus on Commercialization

• Applications such as security and

recreation will gain traction.

• Some first applications of air taxis

will evolve.

• Emergence of new business

models

• Competitive rivalry among flying

car specialists, aviation,

technology and automotive

companies, with their flying car

models

Focus on Expanding

Commercial Applications

• Could become disruptive and

replace some existing transport

solutions

• Potential of large number of

models in the market

• Application markets will grow

beyond niche if technology

proves sustainable and safe

2030

First testsMore pilot

tests

Limited commercial

applications

Wider

commercial

applicationsNon-automotive

entrantsAutomotive OEMs

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Appendix

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90

Principal abbreviations

AI Artificial Intelligence KG Kilogramme

ANPR Automated Number Plate Recognition LED Light-Emitting Diode

API Application Program interface LTE Long-Term Evolution

AR Augmented Reality M Million

B Billion MRO Maintenance, Repair, Overhaul

CAGR Compound Average Growth Rate MTA Mobile Travel Agent

CERT Community Emergency Response Team OEM Original Equipment Manufacturer

CMS Content Management System OPEX Operating Expenses

CoE Centre of Excellence OTA Online Travel Agent

CRM Customer Relationship Management PMO Project Management Office

DAM Digital Asset Management PSS Passenger Service System

DARPA Defense Advanced Research Projects Agency R&D Research & Development

DCO Dynamic Creative Optimisation ROI Return On Investment

DDoS Distributed Denial of Service SCM Supply Chain Management

DHCP Dynamic Host Configuration Protocol TA Travel Agency

ERP Enterprise Resource Planning TMC Travel Management Company

GNSS Global Navigation Satellite System UAV Unmanned Aerial Vehicle

GPS Global Positioning System UK United Kingdom

HD High Definition US United States

HVAC Heating, Ventilation, Air Conditioning VLC Visible Light Communication

IoT Internet of Things VMS Video Management System

IP Internet Protocol VR Virtual Reality

IPS Indoor Positioning System VTOL Vertical Take Off and Landing

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For further details on Frost & Sullivan’s coverage and services,

please contact Livio Vaninetti, Director of Frost & Sullivan Italy

[email protected]

September 2018

[email protected]

for further information about this report please contact