Automated Passenger Counting System Market

Global Automated Passenger Counting System Market Size (2024 to 2029):

The global automated passenger counting system market is expected to reach USD 10.11 billion in 2024 and reach USD 15.84 billion by 2029, growing at a CAGR of 9.40% from 2024 to 2029.

Automated passenger counting (APC) systems are computerized mechanisms that count the number of passengers who board and depart at each stop. Along with AVL services, they are the two most critical innovations that every transportation system should have. In the networks that have them, the schedule checkers are replaced by these systems instead of gathering rider data manually. When the Federal Transit Administration is confident that this system is configured correctly, the ridership data they receive can be used to satisfy the National Transit Database requirements.

Global Automated Passenger Counting System Market Drivers:

The government regulations in some countries where the government routinely demands customer information from fleet operators are crucial drivers of the automated passenger counting system market. With the location-wise segmented rider data, fleet operators can concentrate on the high-traffic regions and therefore gain a significant economic advantage by running their operations in these regions. 

Global Automated Passenger Counting System Market Restraints:

The lack of infrastructure for the construction of customer information management systems and a lack of understanding of the benefits provided by passenger counting systems in several countries is a significant factor that is restricting the growth of the automated passenger counting system market.

REPORT COVERAGE:

This research report on the global passenger counting system market is segmented and sub-segmented into the following categories.

Global Automated Passenger Counting System Market - By Application: 

1. Roadways
2. Railways
3. Airways

Of these, Roadways is both the largest and the fastest-growing segment, which accounted for the bulk of the market share. In 2019, the Roadways contributed a market share of 55%. The part is expected to expand at a CAGR of 22% during the forecast period of 2019 - 2024. The reason for such growth of the segment is attributed to the increased usage of automated passenger counting systems in buses to ensure a secure service offering, and they help in the smooth flow of transport operations. Increasing awareness of the benefits of such counting systems among fleet operators further encourages the use of APCs in buses.

Global Automated Passenger Counting System Market - By Technology: 

1. Stereoscopic Vision
2. Infrared
3. Time-of-Flight
4. IP cameras

Of these, Stereoscopic Vision is the most significant segment accounting for a market share of over 40%. The segment is expected to expand at a CAGR of 21.3% during the forecast period of 2019 - 2024. The reason for such growth is attributed to the accurate information provided by stereoscopic vision during heavy-volume traffic situations. It is also to be noted that this accuracy is unaffected by environmental conditions, light, heat, and shadows, unlike Infrared sensors.

Global Automated Passenger Counting System Market - By End-Use:

1. Busses
2. Trains
3. Planes
4. Ferries

Out of these, the Busses segment holds the majority of the market share with over 45%. The reason for such market share is attributed to the frequent use of buses by people. Busses are the most common means of transport in many regions. So, the service providers want to analyze the data of the buses at different times so that they can improve their services in the specific areas where the demand is higher, which will help with their economic development. Also, the Ferries segment is the fastest-growing segment with a CAGR of 24%. The growth of the section is attributed to the increasing ferry vacation culture all around the world.

Global Automated Passenger Counting System Market – By Region:

• North America
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

The demand in the Asia Pacific region is expected to increase at the highest CAGR during the foreseen period. Healthy economic development and growing urbanization are some of the key drivers for the growth of the Asia Pacific automated passenger counting systems market. With highly populated and rapidly developing countries such as China, India, and others, the APAC region is expected to hold the largest market share in the years to follow.

KEY MARKET PLAYERS:

Iris GmbH, Syncromatics Corp, HELLA Aglaia Mobile Vision GmbH, Eurotech S.p.A, Retail Sensing Ltd, Huawei Technology Co. Ltd, Clever Devices Ltd, Trapeze Group, DILAX Intelcom GmbH, Infidel Electronic Designers International Inc, Cisco Systems, Siemens AG. Some of the market players dominate the automated passenger counting system market.

RESEARCH METHODOLOGY:

The research of the Automated Passenger Counting System market takes place in two phases namely-

• Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
• Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirements of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.

MARKET RESEARCH REPORT KEY HIGHLIGHTS:

1. Evaluation of the current stage of the market and future implications of the market based on the detailed observation of Recent key developments.
2. Address the matter by better understanding the market size estimates through CAGR analysis to forecast the future market.
3. Comprehensive segmentation of the market, detailed evaluation of the market by further sub-segments.
4. Address Market Drivers and restraints and provide insights for gaining market share.
5. Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry as it is a result of the competitive environment.

RECENT DEVELOPMENTS IN THE MARKET:

• Syncromatics Corp, a giant in the Automated Passenger Systems Market, signed a contract with the Los Angeles County Metropolitan Authority to model and install real-time bus data signage and service 300 busses in the first quarter of 2017.