Counting the Ways: A Comprehensive Look at the Automated Passenger Counting and Information System Market
It is projected that the global Automated Passenger Counting and Information System Market would reach a value of USD 12.5 billion by 2027, up from USD 8.0 billion in 2022. A research study by MarketsandMarkets goes into detail about this strong growth, which is anticipated to have a Compound Annual Growth Rate (CAGR) of 9.4%. The research includes a thorough market analysis that makes a distinction between PIS (passenger information systems) and Automated Passenger Counting (APC) systems. Based on technology, such as stereoscopic vision, time-of-flight (ToF), and infrared (IR), the APC system market is examined in further detail. In contrast, the PIS market is divided into categories such as Infotainment Systems and Display Systems.
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Government rules in some countries are a major factor driving the growth of the market for automated passenger counting systems. Fleet operators are required by these requirements to submit ridership statistics to government agencies on a regular basis. Automated passenger counting systems have been adopted by transportation authorities due to the need for precise and timely data. These technologies allow for the efficient and accurate tracking of passenger counts across many transport modes in addition to guaranteeing adherence to regulatory standards. The drive from regulations highlights how important it is for the transport industry to have accurate and transparent data.
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Passenger information systems accounted for a larger share of the market in 2021
Passenger information systems asserted a sizable market share in 2021. In the transportation industry, these systems are essential, especially for bus transit operators that want to tailor their schedules to the travel habits of their passengers. The use of passenger counting technologies has increased due to the increased competition among bus operators to provide better services and draw in more passengers. Real-time data from these devices helps transit operators manage bus operations more effectively, which was especially important during the COVID-19 pandemic. Additionally, the railway industry is finding more and more use for passenger information systems, which offer infotainment and real-time occupancy data. By using emergency communication systems, they effectively handle possible crises and enhance passenger safety.
Stereoscopic Vision technology is projected to witness the highest CAGR during the forecast period
Over the course of the projected period, stereoscopic vision technology is expected to grow at the fastest rate (CAGR). Because of this technology's capacity to extract accurate information from large volumes of data flow, it has become increasingly popular in recent years. When it comes to reliably identifying the directions of passenger movement, stereoscopic vision technology shines. By comparing passenger counts with ticket sales, automated passenger counting systems that make use of this technology are crucial in the detection of fraud. Moreover, it facilitates traffic flow analysis, offers insights into passenger travel patterns, and optimises vehicle route scheduling to improve the efficiency of transit operations. More specifically, stereoscopic vision technology enables bus operators to determine the precise number of passengers at each stop or journey.
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Automated passenger counting system market in Asia Pacific is projected to grow at the highest CAGR from 2022 to 2027
Between 2022 and 2027, the Automated Passenger Counting System Market in Asia Pacific is anticipated to grow at the highest Compound Annual Growth Rate (CAGR). The increasing use of passenger counting systems in transit vehicles, which guarantee the provision of dependable, safe, and timely transportation services, is driving this increase. These systems provide accurate information about how many people are getting on and off of transit vehicles, which allows transit operators to examine passenger travel trends and schedule adherence for certain routes. The necessity for intelligent transport networks is highlighted by the sizeable populations of China and India as well as the ongoing population increase of Australia. Despite rising demand, these networks seek to provide travellers with a trustworthy and safe travel experience.
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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