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Automated Passenger Counting and Information System Market Set to Expand, Anticipated to Reach USD 12.5 Billion by 2027, at a CAGR of 9.4%

02-15-2024 04:09 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Automated Passenger Counting and Information System Market Set

The global Automated Passenger Counting and Information System Market is expected to develop significantly over the next several years, from USD 8.0 billion in 2022 to USD 12.5 billion in 2027. This growth is expected to occur at a remarkable Compound Annual Growth Rate (CAGR) of 9.4% between 2022 and 2027. A thorough analysis from well-known industry research and consulting company MarketsandMarkets details these estimates.

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The public transport sector relies heavily on Automated Passenger Counting and Information Systems (APCIS) to supply essential data and information for smooth operations and enhanced passenger experiences. Numerous factors, such as the growing urbanisation, the focus on boosting the effectiveness of public transportation, and the requirement for precise passenger data, are responsible for this increase. The study analyses important competitors in the global market for automated passenger counting and information systems and examines important market segments, growth factors, opportunities, and challenges.

Key Segments:

Technology Segment: The market includes various technologies, such as Infrared (IR), Time-of-Flight (ToF), and Stereoscopic Vision technology, each offering unique advantages in passenger counting and information systems.

Component Segment: Automated Passenger Counting and Information Systems consist of hardware components like sensors, cameras, and software solutions for data analysis and reporting.
Application Segment: These systems are applied across various public transportation modes, including buses, trams, trains, and subways, as well as at transportation hubs and terminals.

Growth Drivers:

Urbanization and Congestion: The increasing urban population and traffic congestion drive the need for efficient public transportation systems and data-driven decision-making.

Passenger Experience Enhancement: Public transport authorities are leveraging these systems to improve passenger experiences with real-time information on routes and schedules.
Government Initiatives: Government initiatives to promote sustainable transportation and smart city development are accelerating the adoption of these systems.

Challenges:

Data Privacy and Security: Ensuring the privacy and security of passenger data collected by these systems is a significant challenge.

Integration Complexity: Integrating new automated systems with existing infrastructure and legacy transportation systems can be complex and costly.

Opportunities:

IoT Integration: Integration with the Internet of Things (IoT) and data analytics creates new opportunities for system optimization and predictive maintenance.

Global Expansion: As urbanization continues globally, the market presents growth opportunities for providers expanding into new regions.

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Key Players:

The report identifies key players in the global Automated Passenger Counting and Information System Market, including:

Siemens AG: A multinational company providing solutions in the fields of electrification, automation, and digitalization.

Hella Aglaia Mobile Vision GmbH: A manufacturer of intelligent visual perception technology for vehicles.

Clever Devices Ltd.: A provider of comprehensive public transportation solutions, including passenger information systems.

Eurotech S.p.A.: A company specializing in embedded boards and modules, edge computing, and Internet of Things solutions.

DILAX Intelcom GmbH: A provider of technology solutions for capturing and managing passenger data.

The global Automated Passenger Counting and Information System Market is experiencing robust growth, driven by the increasing focus on public transportation efficiency, passenger convenience, and smart city initiatives. As cities expand and mobility solutions evolve, these systems are expected to play a crucial role in shaping the future of public transport.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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