The automated passenger counting system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automated Passenger Counting System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automated passenger counting system market size has grown strongly in recent years. It will grow from $8.85 billion in 2023 to $9.72 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to the rising need to optimize the operational costs of transit operators, rising urban density and public transportation usage, rising demand for real-time transit information, rising demand for public transportation, and growing environmental awareness are encouraging modal shifts towards public transportation.
The automated passenger counting system market size is expected to see strong growth in the next few years. It will grow to $13.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the growing technological developments in automated passenger counting systems, growing urbanization, demand for analytics, growing public transit ridership, rising demand for smart telematic solutions. Major trends in the forecast period include technological advancements in automated passenger counting systems, integration of advanced analytics and AI, government support amplifies APC system market potential, integration with IoT, multi-modal integration.
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Scope Of Automated Passenger Counting System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automated Passenger Counting System Market Overview
Market Drivers –
The rising public transportation usage is expected to propel the growth of the automated passenger counting system market going forward. Urban public transportation usage refers to the effective and efficient utilization of public transport vehicles and services by the general public. Public transportation usage is on the rise due to increasing traffic congestion, increasing investments in public transportation infrastructure, and rising fuel costs. Automated Passenger Counting Systems (APC) are utilized in urban public transportation to accurately track and monitor passenger numbers, facilitating efficient resource allocation, schedule planning, and service optimization. For instance, in August 2023, according to a report by Seoul Metropolitan Government, a Korea-based local government in Seoul, public transportation was used 9.42 million times on average per day last year, with a 14% (+70,000) increase in daily utilization throughout the day. In 2022, there were 330 million more people using public transportation overall than in 2021, with an average daily increase of 11% (+900,000). Therefore, rising public transportation usage is driving the growth of the automated passenger counting system market.
Market Trends –
Major companies operating in the automated passenger counting system market are developing advanced solutions, such as AI-integrated sensor technologies, to enhance counting accuracy and efficiency. These sensors refer to advanced sensors equipped with artificial intelligence capabilities that accurately detect and count passengers boarding and alighting public transportation vehicles. For instance, in September 2023, iris-GmbH infrared and intelligent sensors, a Germany-based company developing and manufacturing sensor components for automated passenger counting systems, unveiled the IRMA 6 R2 sensor, a new generation of automated passenger counting sensors, in the European region for the first time. The sensor leverages cutting-edge data processing and artificial intelligence algorithms to deliver precise, real-time passenger and object counts. This valuable data empowers operators and transportation authorities to optimize vehicle sizes, routes, and schedules, enhancing operational reliability and passenger satisfaction. The IRMA 6 R2 features a 4-core processing unit for maximum accuracy while also meeting the latest cybersecurity standards and norms.
The automated passenger counting system market covered in this report is segmented –
1) By Type: Display Systems, Mobile Applications, Infotainment Systems, Announcements, Other Types
2) By Technology: Video Analytics, Infrared, Light Detection And Ranging (Lidar), Stereoscopic Vision, Time-Of-Flight, Wi-Fi Tracking
3) By Application: Airports, Buses, Ferries And Cruise Ships, Railways, Trams And Metros, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the automated passenger counting system market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the automated passenger counting system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automated passenger counting system market are Robert Bosch GmbH, Hitachi Ltd., Huawei Technology Co. Ltd., Siemens AG, Cisco Systems Inc., Mitsubishi Electric Corporation, Honeywell International Inc., Thales Group, Hikvision Digital Technology Co. Ltd., Wabtec Corporation, Indra Sistemas S.A., Advantech Co. Ltd., Cubic Corporation, Daktronics Inc., Samsara Networks Inc., Nexcom International Co. Ltd., INIT SE, Teleste Oy, Postec Technology, Cleveron AS, Clever Devices Ltd., Eurotech Holdings Ltd., Iris-GmbH Infrared & Intelligent Sensors, DILAX Intelcom GmbH, HELLA Aglaia Mobile Vision GmbH, Infodev Electronic Design & Information Technologies Ltd., Syncromatics Corporation, Trapeze Group, Euclid Labs, LILEE Systems Ltd.
Table of Contents
1. Executive Summary
2. Automated Passenger Counting System Market Report Structure
3. Automated Passenger Counting System Market Trends And Strategies
4. Automated Passenger Counting System Market – Macro Economic Scenario
5. Automated Passenger Counting System Market Size And Growth
…..
27. Automated Passenger Counting System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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