Counting Commuters: The Rapid Growth of the $12.5 Billion Automated Passenger Counting System Market
The Automated Passenger Counting and Information System Market will develop at a substantial rate. According to projections, the market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4% from USD 8.0 billion in 2022 to USD 12.5 billion by 2027.
The research divides the market into two segments: PIS (passenger information systems) and APC (automated passenger counting) systems. It also explores the technologies used in APC systems, such as stereoscopic vision, time-of-flight (ToF), and infrared (IR). Infotainment and Display Systems are included in the PIS market. The anticipated growth is a reflection of the transportation industry's growing need for effective passenger counting and information distribution systems.
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One of the main factors propelling the market expansion for Automated Passenger Counting (APC) Systems is government rules requiring fleet operators to report ridership data on a regular basis to government agencies. Regulatory initiatives in a number of nations require operators to furnish precise and timely statistics on passenger counts in an effort to improve accountability and transparency in the transportation sector. Automated Passenger Counting Systems, which provide a dependable and effective way to gather and report ridership statistics, are essential to meeting these legal criteria. The growing acceptance of APC Systems is attributed to the focus on data-driven insights and adherence to regulatory requirements, which makes them essential elements in the modernization of public transportation and the assurance of a more knowledgeable and responsible transportation environment.
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Passenger information systems accounted for a larger share of the market in 2021
Passenger Information Systems (PIS) accounted for a bigger portion of the market in 2021, which was not surprising given their crucial role in improving bus transit operators' operational efficiency. Operators may analyse passenger travel patterns with PIS, which makes it easier to schedule vehicle routes and schedules optimally. One of the main reasons for the rising use of passenger counting systems is the competitive environment in the bus transit industry, which is characterised by an effort to enhance services and draw in more clients. These systems have proven crucial in guaranteeing the seamless and effective functioning of buses, especially amid the difficulties presented by the COVID-19 pandemic. They are also necessary for the real-time collecting of data. Additionally, Passenger Information Systems—which provide real-time data on vehicle occupancy levels—are becoming more and more popular in the railway industry. Apart from the functional features, these systems fulfil infotainment functions and enhance passenger safety by means of emergency communication systems, hence reinforcing their importance in many transportation modes.
Stereoscopic Vision technology is projected to witness the highest CAGR during the forecast period
The market for Automated Passenger Counting (APC) Systems is expected to see the greatest Compound Annual Growth Rate (CAGR) for Stereoscopic Vision technology throughout the forecast period, demonstrating its increasing relevance. This technique has gained popularity recently since it can extract exact information from large amounts of traffic data. Notably, stereoscopic vision provides sophisticated insights into passenger behaviour by precisely identifying the direction in which passengers are travelling. By comparing ticket sales and passenger counts, automated passenger counting systems with stereoscopic vision are a great tool for identifying fraudulent activity. Additionally, it improves the effectiveness of transit operations by making it possible to schedule vehicle routes optimally, analyse passenger travel patterns, and assess traffic flow. The market for Automated Passenger Counting (APC) Systems is expected to see the greatest Compound Annual Growth Rate (CAGR) for Stereoscopic Vision technology throughout the forecast period, demonstrating its increasing relevance. This technique has gained popularity recently since it can extract exact information from large amounts of traffic data. Notably, stereoscopic vision provides sophisticated insights into passenger behaviour by precisely identifying the direction in which passengers are travelling. By comparing ticket sales and passenger counts, automated passenger counting systems with stereoscopic vision are a great tool for identifying fraudulent activity. Additionally, it improves the effectiveness of transit operations by making it possible to schedule vehicle routes optimally, analyse passenger travel patterns, and assess traffic flow.
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Automated passenger counting system market in Asia Pacific is projected to grow at the highest CAGR from 2022 to 2027
Asia Pacific's Automated Passenger Counting (APC) System market is anticipated to grow at the fastest rate possible between 2022 and 2027. The increased use of passenger counting devices in transit vehicles, which improves the provision of dependable, safe, and prompt transportation services in the area, is blamed for this growth. For reliable information regarding the number of people getting on and off public transport vehicles, automated passenger counting devices are essential. Transport operators can use this data to examine passenger travel trends on certain routes and adjust their schedules accordingly. The need for intelligent transport networks is rising due to the massive populations of nations like Australia and China, as well as the ongoing population growth in other countries.
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.
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