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Automated Passenger Counting System Market Size, Growth, Industry Trends, Demand And Forecast To 2033
Automated Passenger Counting System Market
As per the report, 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 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%.
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Impact Of Public Transportation On The Automated Passenger Counting System Market
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.
Development Of High Tech Sensors In The Automated Passenger Counting System Market
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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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.
Contents of the report:
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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