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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