Automated Passenger Counting and Information Systems Market: Driving Smart Transportation Solutions
Over the projected period from 2022 to 2027, the Global Automated Passenger Counting and Information System Market is anticipated to expand significantly. The market size is anticipated to rise from USD 8.0 billion in 2022 to USD 12.5 billion by 2027, exhibiting a compound yearly growth rate (CAGR) of 9.4%, according to market research.
The market for automated passenger counting systems is expanding as a result of laws requiring fleet operators to provide ridership statistics on a regular basis to government authorities. To improve public transport services and infrastructure development, governments in a number of nations have realised how crucial precise and timely data on passenger numbers and travel patterns are. These regulations mandate the installation of automatic passenger counting systems by fleet operators operating a variety of types of transport, including buses, trains, trams and ferries. These systems precisely track and record passenger data by utilising cutting-edge technologies like sensors, cameras, or other intelligent gadgets.
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Eurotech (Italy), HELLA Aglaia Mobile Vision (Germany), and iris-GmbH (Germany) are some of the key manufacturers of Automated passenger counting system market in Asia Pacific.
Passenger information systems accounted for a larger share of the market in 2021
Passenger information systems began to play a significant role in the industry in 2021. These systems are essential in helping bus transit operators identify customer travel trends, schedule vehicles optimally, and raise overall service standards. The severe competition among bus companies for customers' business has led to a rise in the use of passenger information systems. Transit operators are able to monitor passenger flow, efficiently manage bus routes and timetables, and make choices thanks to these systems' real-time information. By providing real-time occupancy statistics and assisting in maintaining social segregation measures, passenger information systems have been crucial in guaranteeing the smooth and safe running of buses, particularly during the COVID-19 pandemic.
Not only are passenger information systems becoming more popular on buses, but also on trains. These technologies provide up-to-the-minute data on car occupancy levels, enabling train operators to optimise seating layouts and improve passenger transit. These technologies are also used for entertainment, which keeps passengers informed and engaged while they are travelling. Additionally, by including emergency communication systems, passenger information systems enhance passenger safety. These systems allow users to instantly contact authorities and request assistance in the event of emergencies or other unanticipated circumstances, improving overall safety measures.
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Stereoscopic Vision technology is projected to witness the highest CAGR during the forecast period
The largest compound annual growth rate (CAGR) is anticipated for stereoscopic vision technology during the forecast period. Due to its capacity to extract precise information from vast amounts of traffic data, this technology has experienced substantial growth in popularity in recent years. It has benefits like the ability to identify fraudulent activity and track the direction of passenger travel. In many applications, automated passenger counting systems utilising stereoscopic vision technology are essential. One of the main advantages is fraud detection, as these systems can assess ticket sales and passenger counts to spot inconsistencies and possible cases of fare evasion. By ensuring correct revenue collection, this capacity improves the overall effectiveness of transportation operations.
Bus drivers can also determine the precise number of passengers at each stop or during each trip thanks to stereoscopic vision technology. Operators can obtain useful information to analyse travel trends, improve vehicle scheduling and routing, and assess traffic flow by precisely counting passengers. This data-driven strategy improves decision-making and results in more effective transit operations. Additionally, stereoscopic vision technology-based automatic passenger counting systems help bus operators generate revenue. The number of passengers and the tickets issued can be compared, allowing operators to precisely track and confirm fare collection. This increases the revenue potential for bus operators by decreasing revenue losses brought on by underreporting or erroneous ticketing.
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Automated passenger counting system market in Asia Pacific is projected to grow at the highest CAGR from 2022 to 2027
From 2022 to 2027, the Asia Pacific region is predicted to have the greatest compound annual growth rate (CAGR) in the market for automated passenger counting systems. This development might be ascribed to the region's growing use of passenger counting systems in transit vehicles, which aims to give passengers dependable, secure, and punctual transportation services. For accurate reporting of the number of people boarding and alighting transit vehicles, automated passenger counting devices are essential. Transit operators can use this information to analyse the frequency of passenger movement on particular routes and adjust their timetables as necessary. Operators can increase operational efficiency and improve service quality by acquiring information into passenger demand.
The Asia Pacific region is distinguished by its dense population, with significant commuter reliance on public transport in nations like China and India. Additionally, nations like Australia continue to have population expansion. These elements lead to a substantial demand for smart transport networks that can meet the demands of an expanding population while providing passengers with a dependable and secure travel experience. Automated passenger counting technologies must be used if the Asia-Pacific area is to build a transportation infrastructure that is both efficient and sustainable. For decision-making, resource allocation, and route optimisation, these technologies offer useful data. Additionally, they help transportation operators provide better services that are catered to the needs of the diverse and growing population, which increases customer satisfaction.
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