Automated Passenger Counter Market growth is attributed to the Technological Advancements in Automated Passenger Counter Machines.
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Buses Segment is Dominate the Automated Passenger Counter Market
The buses segment is expected to account for a larger revenue share in 2021 and the segment is projected to grow at significant CAGR over 2022 and 2028 owing to several cities across the world, have adopted passenger information systems to improve the traveling experience of passengers. Automated passenger counters are becoming more widely employed in buses because they give real-time data on vehicle occupancy levels. They're also utilized for entertainment and to keep passengers safe with emergency communication systems in the event of an emergency.
Asia-Pacific Leads Automated Passenger Counter Market
The Asia Pacific is likely to hold the highest revenue share in 2021 in the global automated passenger counter market and the market is projected to grow at a significant CAGR over the forecast years owing to the increase in the use of automated passenger counting technologies in transit vehicles in order to provide safe, dependable, and punctual transportation services Furthermore, as the population grows, smart transportation networks will be required to provide passengers with a dependable and secure traveling experience, boosting the rise of automated passenger counting market during the forecasting period. Moreover, technological advancements in the field of passenger information systems, North America is expected to see considerable growth over the forecast timeframe.
Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Automated Passenger Counter market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant traction across the globe. For instance, In March 2020, to enhance its visibility in the market, HELLA Aglaia partnered with Germany-based VIDEO to sell people-sensing products. In April 2020, Eurotech expanded its range of automotive services with the launch of DynaGate 20-30. It is featured with advanced features like addressing the challenges of next-generation applications for intelligent mobility and connected vehicles.
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The automated passenger counter market detailed segmentation
Based on the Technology, the market is segmented into the following:
• IP Cameras
• Stereoscopic Vision
Based on the end-user, the market is segmented into the following:
• Ferry Boats
Based on Geography, the market is segmented into the following:
• North America
• Asia Pacific
• Latin America
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