Automated Passenger Counting System Market Analysis
The automated passenger counting system market is predicted to touch USD 300 million at a 20% CAGR between 2016- 2022, 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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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 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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