Automated People Mover Market Gears Up for 6.05% CAGR, Envisioning US$ 899.3 Million by 2033 Driven by Airport Connectivity Demand

The global automated people mover market in 2022 was US$ 486.7 million and is estimated to be US$ 499.8 million in 2023. FMI opines that the automated people mover market is predicted to expand at a CAGR of 6.05% between 2023 and 2033, totaling around US$ 899.3 million by 2033.

The high adaptability of automated people mover requires low capital investments whilst providing the requirements of low capital investments ensuring maximum passenger room in the system to accelerate the automated people mover market growth. Additionally, the rise in demand for these movers especially due to the necessity of efficient interconnection between airport terminals and city centers acts as one of the key factors driving the growth of the automated people mover market.

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The rise in demand for sustainable and reliable transport solutions, with urbanization and a surge in investment positively affects the automated people mover market. Further, the surge in preference toward automated people movers over conventional transit systems imposes fewer maintenance costs. While the latter imposes fewer maintenance costs causing high expenses and further influencing the automated people mover market.

Key Takeaways from the Automated People Mover Market Study

The anticipated size of the automated people mover market in 2018 was US$ 299.7 million.
The anticipated size of the automated people mover market in 2022 was US$ 486.7 million.
The global automated people mover market expanded at a CAGR of 5.28% between 2018 and 2022.
North America holds a market share of 76.7% in the automated people mover market.
The United Kingdom expands at a CAGR of 6.97%.
Based on the application segment, airports are projected to hold a market share of 66%.
Based on the system type segment, the duo rail segment is anticipated to expand at a CAGR of 6.0% in terms of value.

"Concentrating on both contracts and commercial opportunities in order to maintain project retention is one of the key opportunities for automated people mover manufacturers", comments a Future Market Insights analyst.

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Competition Landscape

Key automated people mover manufacturers are also working to improve the safety of autonomous movers. Also, contracts and agreements, new product development, and partnerships are among the prominent strategies used by leading players to expand their global presence.

Key Companies Profiled in Automated People Mover Market

Siemens
MITSUBISHI HEAVY INDUSTRIES, LTD.
Doppelmayr Seilbahnen GmbH
PT Len Industri (Persero)
LEITNER AG
Coester Group
HYUNDAI ROTEM COMPANY
IHI Corporation
Alstom
Bombardier
Verdict Media Limited
TPI Composites

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Key Developments of the Key Players in the Automated People Mover Market

In July 2023, Siemens invests €1 billion in Germany and creates a blueprint for the industrial metaverse in Nuremberg metropolitan region.
In April 2023, Siemens Digital Industries Software and IBM announced they are likely to be expanding their long-term partnership by collaborating to develop a combined software solution integrating their respective offerings for systems engineering, service lifecycle management, and asset management.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the automated people mover market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the automated people mover market is segmented based on major By System Type: (Monorail, Duo Rail, Automated Guide Way Transit or Maglev), By Application: (Airport, Urban Transit, Amusements Parks, Shopping or Commercial Centers, Others) and Region: (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa).

Key Segment of Automated People Mover Market

System Type

Monorail
Duorail
Automated Guideway Transit or Maglev

Application

Airports
Urban Transit
Amusement Parks
Shopping or Commercial Centers
Others

Region

North America
Latin America
Europe, Middle East & Africa
East Asia
Asia Pacific

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About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.