Automated Passenger Counting System Market Analysis
The automated passenger counting
system market is predicted to touch USD 300 million at a 20% CAGR between 2022-
2027, states the recent Market Research Future (MRFR) analysis. Automated passenger counting (APC) systems are electronic
devices that records passenger boarding as well as alighting in transit cars
for each trip operated. It has wide applications in airways, roadways, and
railways.
Various factors are
propelling the global automated passenger counting system market share.
According to the recent MRFR report, such factors include the regulations by
the government about the need for transit data, demand for advanced solutions
in the transportation industry, demand for real-time transit information from
passengers, deployment of automated passenger counting systems for optimizing
the operational cost of transit agencies, demand for automatic passenger
counting software, increasing use of automatic passenger counting systems for
public transport & proper management of fleet by transit vehicle operators.
Additional factors fuelling market growth comprise the rising need for fleet
optimization, demand for telematic solutions, growing urbanization, rising
technological advances like real-time business location and updates, growing
government regulations to support the use of such systems, growing demand for
ridership data from transit operators to counter terrorism and increase safety,
improve transit time efficiency, and fast resolution of passenger complaints.
On the flip side,
lack of awareness about the benefits of such systems, absence of appropriate
infrastructure, high initial costs, and the impact of the COVID-19 pandemic are
factors that may deter the automated passenger counting system market growth
during the forecast period.
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Automated
Passenger Counting System Market Regional Analysis
Based on the region,
the global automated passenger counting system market report covers the growth
opportunities and recent trends across the Asia Pacific (APAC), North America,
Europe, Latin America & the Rest of the World (RoW). Of these, North
America will spearhead the market over the forecast period. Early adoption of
these systems in the US is adding to the global automated passenger counting
system market growth in the region.
In Europe, the
automated passenger counting system market in Europe is predicted to hold the
second-largest share during the forecast period. The burgeoning demand for
automated passenger counting system as it helps to quickly resolve passenger
complaints and also improve transit time efficacy is adding to the growth of
the market in the region.
In the APAC region,
the automated passenger counting system market in the APAC region is predicted
to develop at a fast pace during the forecast period. Increasing use of
passenger counting systems in transit cars to offer timely, secure, and
reliable transportation services, large population base in India and China,
need for smart transportation networks for secure and reliable traveling for
passengers, booming transportation sector, increasing investments in public
transit services, and increasing adoption of smart solutions in the
transportation sector are adding to the global automated passenger counting
system market growth in the region.
In the RoW, the
automated passenger counting system market is predicted to have steady growth
over the forecast period.
Automated
Passenger Counting System Market Segmentation
The MRFR report
highlights an inclusive segmental analysis of the global automated passenger
counting system market based on end users, applications, and technology.
By technology, the
global automated passenger counting system market is segmented into IP cameras,
time-of-flight, stereoscopic vision, and infrared. Of these, the stereoscopic
vision technology segment will lead the market over the forecast period.
By application, the
global automated passenger counting system market is segmented into airways,
roadways, and railways. Of these, the railways segment will dominate the market
over the forecast period.
By end users, the
global automated passenger counting system market is segmented into ferry
boats, trains, buses, and others. Of these, buses will have a major share in
the market over the forecast period for the growing demand for smart bus.
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Industry Updates:
Jan 2020 Charlottesville Area Transit is planning to
include systems that could have an improved idea of how many people use its
buses and its most standard routes. The Charlottesville-Albemarle Metropolitan
Planning Organization recently accepted to shift money around to support
passenger count systems in its meeting in light of the current global crises.
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Key
Players
Key contenders
profiled in the global automated passenger counting system market report
include Trapeze Group (Canada), Syncromatics Corp. (U.S.), Retail Sensing Ltd.
(U.K.), Clever Devices Ltd. (U.S.), Huawei Technology Co., Ltd. (China),
Hitachi, Ltd. (Japan), Siemens AG (Germany), Cisco Systems, Inc. (U.S.),
Infodev Electronic Designers International Inc. (Canada), DILAX Intelcom GmbH
(Germany), Eurotech S.p.A. (Italy), HELLA Aglaia Mobile Vision GmbH (Germany),
and Ris-GmbH (Germany).
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