Automated Passenger Counting and Information System Market worth $12.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO , April 21, 2022 /PRNewswire/ -- According to the new research report, the "Automated Passenger Counting and Information System Market by Type (APC Systems and PIS), APC System Market, by Technology (IR, ToF, Stereoscopic Vision), PIS Market by Type (Display Systems, Infotainment Systems), Application - Global Forecast to 2027", published by MarketsandMarkets™, the global Automated Passenger Counting And Information System Market size is projected to grow from USD 8.0 billion in 2022 to USD 12.5 billion by 2027 at CAGR of 9.4% during the forecast period. One of the key driving factors for the growth of the automated passenger counting system market is the government regulations in some countries for the regular reporting of ridership data from fleet operators to government agencies.
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Passenger information systems accounted for a larger share of the market in 2021
Passenger information systems accounted for a larger share of the market in 2021. Passenger information systems enable bus transit operators to determine the passenger traveling patterns to schedule the time and routes of their vehicles. The intense competition among bus operators to enhance their service offerings and gain an increased number of customers is leading to a rise in the adoption of passenger counting systems in buses. These systems provide real-time information to help transit operators in ensuring the smooth and hassle-free functioning of their buses during COVID-19. Passenger information systems are increasingly being used in railways as they provide real-time information related to the occupancy level in vehicles. They are also used for infotainment purposes and ensure the safety of passengers with emergency communication systems in case of any kind of emergency.
Stereoscopic Vision technology is projected to witness the highest CAGR during the forecast period
Stereoscopic Vision technology is projected to witness the highest CAGR during the forecast period. Stereoscopic vision technology has been gaining traction in the market for the past few years as it gathers accurate information from high-volume traffic data. Moreover, this technology can also easily detect the direction wherein passengers are moving. Automated passenger counting systems can be used to detect fraud by comparing passenger counts with ticket sales; increasing the efficiency of transit operations through the proper scheduling of vehicle routes; analyzing the traveling patterns of passengers and evaluating the traffic flow. Stereoscopic vision technology enables bus operators to determine the actual number of passengers at each stop or during each trip. It helps in increasing revenues of bus operators as automated passenger counting systems enable the crosschecking of the number of passengers against the issued tickets.
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Automated passenger counting system market in Asia Pacific is projected to grow at the highest CAGR from 2022 to 2027
The automated passenger counting system market in Asia Pacific is projected to grow at the highest CAGR from 2022 to 2027. The growth of the market in this region can be attributed to the increasing adoption of passenger counting systems in transit vehicles to provide reliable, secure, and timely transportation services. Automated passenger counting systems provide accurate information about the number of passengers who have boarded and alighted transit vehicles, thereby helping transit operators analyze the traveling patterns of passengers for a particular route and their time schedules. The large population base of countries such as China and India and the continuously increasing population of countries such as Australia create requirements for smart transportation networks to ensure a reliable and secure traveling experience for passengers.
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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