Global Automated People Mover (APM) Modernization Market Expected to Grow at 8% CAGR, Reaching $5.87 Billion by 2029

What Market Size Is the Automated People Mover (APM) Modernization Industry Projected to Reach by 2025?
Recent years have seen substantial expansion in the market valuation for automated people mover (APM) system upgrades, projecting an increase from $3.98 billion in 2024 to $4.31 billion the following year, achieving an 8.4% compound annual growth rate. This upward trend throughout the past period stems from several factors, including escalating needs in metropolitan transit, augmented public funding allocations for mass transportation, burgeoning airport development initiatives, a heightened emphasis on mitigating traffic volume, and the wider incorporation of autonomous mobility solutions.

What Is the Long-Term Growth Forecast for the Automated People Mover (APM) Modernization Market Size Through 2029?
Projections indicate a robust expansion within the automated people mover (APM) retrofitting sector, with its valuation set to reach $5.87 billion by the year 2029, reflecting a consistent year-over-year increase quantified by an 8.0% compound annual growth rate. This anticipated upswing throughout the projection timeline stems from several key factors: a heightened focus on implementing transportation frameworks that prioritize sustainability and energy conservation, escalating needs for updating established transportation networks, a rising consumer inclination towards transit methods that ensure security and dependability, coupled with augmented financial allocations directed toward improving mobility infrastructure. Furthermore, significant developments characterizing this forecast interval encompass progress in technological applications, creative evolution within guidance and motive power apparatuses, increased capital outlay into fundamental and applied investigation, formulation of modernization approaches that conserve energy, and the incorporation of maintenance strategies based on forecasting.

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What Key Drivers Are Powering the Automated People Mover (APM) Modernization Market's Growth Momentum?
Anticipation points towards expanding capital allocation in transit systems fueling the further expansion of the automated people mover (APM) updating sector; this infrastructure encompasses the essential physical frameworks such as roadways, viaducts, rail lines, and air terminals facilitating the conveyance of both individuals and commodities, with this heightened funding being necessitated by the imperative to boost interconnectedness, thereby boosting travel convenience, fostering financial expansion, and ensuring smoother logistics for passengers and cargo alike, directly supporting the modernization of APMs by paving the way for technological implementation and system overhauls, consequently bettering the safety, operational fluidity, and linkage within transit grids, all while championing eco-friendly transit options and elevating passenger satisfaction, exemplified by the October 2024 data from the US Department of Transportation showing bridge venture funding climbing to $635 million this year compared to prior commitments under that specific program, making the surge in transport spending a direct catalyst for the APM modernization market's upward trajectory.

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Which Key Trends Are Poised to Redefine the Automated People Mover (APM) Modernization Market by 2029?
Leading firms within the automated people mover (APM) system enhancement sector are concentrating their efforts on capturing substantial agreements, like those pertaining to APM system overhauls, with the objective of boosting operational performance and passenger handling capabilities at Jeddah Airport. An APM system upgrade contract denotes a formal accord established between a vendor and a site management entity for the purpose of bringing an established automated people mover (APM) installation up to current standards, making improvements, or increasing its scope. To illustrate, in April of 2024, Alstom S.A., a mobility and rail transport specialist headquartered in France, formalized an agreement to modernize the Innovia APM infrastructure located at King Abdulaziz International Airport in Jeddah, Saudi Arabia. This enhancement project encompasses the integration of four additional Innovia APM vehicles into the current rolling stock, the implementation of updated signaling and communication technologies utilizing the Cityflo 650 communications-based train control (CBTC) methodology, the fitting of platform edge doors, strengthening digital security measures, and the creation of a fresh operations command center, all designed to elevate passenger volume limits, optimize system functionality, and foster secure and environmentally conscious airport transportation.

What Are the Leading Segment Types Boosting Automated People Mover (APM) Modernization Market Performance?
The automated people mover (apm) modernization market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By System Type: Monorail, Automated Guideway Transit, Cable-Propelled APM, Other System Types
3) By Modernization Type: Vehicle Upgrades, Control System Upgrades, Infrastructure Upgrades, Others Modernization Types
4) By Application: Airports, Urban Transit, Amusement Parks, Hospitals, Other Applications

Subsegments:
1) By Hardware: Control Systems, Traction Motors, Communication Systems, Braking Systems, Power Supply Units, Doors And Gates, Passenger Information Displays
2) By Software: Operation Management Software, Passenger Management Software, Maintenance Management Software, Security And Surveillance Software, Data Analytics And Reporting Software
3) By Services: Installation And Integration Services, Maintenance And Support Services, Upgradation And Modernization Services, Training And Consultation Services, System Testing And Commissioning Services

Which Companies Are Setting the Pace for Growth in the Automated People Mover (APM) Modernization Market?
Major companies operating in the automated people mover (apm) modernization market are Siemens AG; Hitachi Rail Limited; Sumitomo Corporation; CRRC Corporation Limited; Mitsubishi Heavy Industries Ltd.; Kiewit Corporation; Fluor Corporation; AECOM; Otis Elevator Company; Jacobs Engineering Group Inc.; Balfour Beatty plc; Alstom SA; Parsons Corporation; Keolis SA; Thales Group; Hyundai Rotem Company; Doppelmayr Cable Car GmbH & Co KG; Leitner AG; Intamin Transportation Ltd.; Poma Group

Which Countries or Regions Are Expected to Dominate the Automated People Mover (APM) Modernization Market Landscape?
North America was the largest region in the automated people mover (APM) modernization market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automated people mover (apm) modernization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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