Automated Passenger Counting System Market Size and Growth Rate Analysis:
Automated Passenger Counting System Market is expected to reach 370 million USD by 2024, which is a significant increase from 148 million USD in 2019.
Automated Passenger Counting (APC) systems are computerized mechanisms that count the number of passengers who board and depart at each stop. Along with AVL services, they are the two most critical innovations that every transportation system should have. In the networks that have them, the schedule checkers are replaced by these systems instead of gathering rider data manually. When the Federal Transit Administration is confident that this system is configured correctly, the ridership data they receive can be used to satisfy the National Transit Database requirements.
Recent Developments of the market:
Syncromatics Corp, a giant in Automated Passenger Systems Market, signed a contract with the Los Angeles County Metropolitan Authority to model and install real-time bus data signage and service 300 busses in the first quarter of 2017.
Drivers and Restraints:
Drivers:
Restraints:
Lack of infrastructure for the construction of customer information management systems and a lack of understanding of the benefits provided by passenger counting systems in several countries is a significant factor that is restricting the growth of the automated passenger counting system market.
Automated Passenger Counting System Market Segmentation:
By Application:
Of these, Roadways is both the largest and the fastest-growing segment, which accounted for the bulk of market share. In 2019, the Roadways contributed a market share of 55%. The part is expected to expand at CAGR of 22% during the forecast period of 2019 - 2024. The reason for such growth of the segment is attributed to the increased usage of automated passenger counting systems in busses to ensure a secure service offering and as they help in the smooth flow of transport operations. Increasing awareness of the benefits of such counting systems among fleet operators further encourages the use of APCs in buses.
By Technology:
Of these, Stereoscopic Vision is both the most significant segment that accounted for a market share of over 40%. The segment is expected to expand at CAGR of 21.3% during the forecast period of 2019 - 2024. The reason for such growth is attributed to the accurate information provided by stereoscopic vision during the heavy-volume traffic situations. It is also to be noted that this accuracy is unaffected by environmental conditions, light, heat and shadows, unlike Infrared sensors.
By End- Use:
Out of these, the Busses segment holds the majority of the market share with over 45%. The reason for such market share is attributed to the frequent use of busses by people. Busses are the most common means of transport in many regions. So, the service providers want to analyze the data of the busses in different times so that they can improve their services in the specific areas where the demand is more, which will help with their economic development. Also, Ferries segment is the fastest-growing segment with a CAGR of 24%. The growth of the section is attributed to the increasing ferry vacation culture all around the world.
Automated Passenger Counting System Market Region-wise analysis:
Based in the region, Automated Passenger Counting System market can be segmented into:
Regional Growth Insights:
The demand in Asia Pacific region is expected to increase at the highest CAGR during the foreseen period. Healthy economic development and growing urbanization are some of the key drivers for the growth of the Asia Pacific automated passenger counting systems market. With the highly populated and rapidly developing countries such as China, India and others, the APAC region is expected to hold the largest market share in the years to follow.
Leading Key Players mentioned in Market Report are:
Many of these key players focused on technological innovations and aggressive market expansion strategies for staying ahead of the competition.
RESEARCH METHODOLOGY:
The research of the Automated Passenger Counting System market takes place in two phases namely-
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
Global Automated Passenger Counting System Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By End-Use
5.1.1 Introduction
5.1.2 Trains
5.1.3 Busses
5.1.4 Planes
5.1.5 Ferries
5.1.6 Other Vehicles
5.1.7 Y-o-Y Growth Analysis
5.1.8 Market Attractiveness Analysis
5.1.9 Market Share Analysis
5.2 By Technology
5.2.1 Introduction
5.2.2 Stereoscopic Vision
5.2.3 Infrared
5.2.4 Time-of-Flight
5.2.5 IP cameras
5.2.6 Other Technologies
5.2.7 Y-o-Y Growth Analysis
5.2.8 Market Attractiveness Analysis
5.2.9 Market Share Analysis
5.3 By Application
5.3.1 Introduction
5.3.2 Roadways
5.3.3 Railways
5.3.4 Airways
5.3.5 Y-o-Y Growth Analysis
5.3.6 Market Attractiveness Analysis
5.3.7 Market Share Analysis
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By End- Use
6.1.3.3 By Application
6.1.3.4 By Technology
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By End- Use
6.1.4.3 By Application
6.1.4.4 By Technology
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By End- Use
6.1.5.3 By Application
6.1.5.4 By Technology
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 Iris GmbH
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Syncromatics Corp.
8.3 HELLA Aglaia Mobile Vision GmbH
8.4 Eurotech S.p.A.
8.5 Retail Sensing Ltd.
8.6 Huawei Technology Co. Ltd.
8.7 Clever Devices Ltd.
8.8 Trapeze Group
8.9 DILAX Intelcom GmbH
8.10 Infidel Electronic Designers International Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
