The automated passenger counting system market is predicted to touch USD 300 million at a 20% CAGR between 2016- 2022, states the recent Market Research Future (MRFR) analysis. Automated passenger counting (APC) systems are electronic devices that records passenger boarding as well as alighting in transit cars for each trip operated. It has wide applications in airways, roadways, and railways.
Various factors are propelling the global automated passenger counting system market share. According to the recent MRFR report, such factors include the regulations by the government about the need for transit data, demand for advanced solutions in the transportation industry, demand for real-time transit information from passengers, deployment of automated passenger counting systems for optimizing the operational cost of transit agencies, demand for automatic passenger counting software, increasing use of automatic passenger counting systems for public transport proper management of fleet by transit vehicle operators. Additional factors fuelling market growth comprise the rising need for fleet optimization, demand for telematic solutions, growing urbanization, rising technological advances like real-time business location and updates, growing government regulations to support the use of such systems, growing demand for ridership data from transit operators to counter terrorism and increase safety, improve transit time efficiency, and fast resolution of passenger complaints.
On the flip side, lack of awareness about the benefits of such systems, absence of appropriate infrastructure, high initial costs, and the impact of the COVID-19 pandemic are factors that may deter the automated passenger counting system market growth during the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global automated passenger counting system market based on end users, applications, and technology.
By technology, the global automated passenger counting system market is segmented into IP cameras, time-of-flight, stereoscopic vision, and infrared. Of these, the stereoscopic vision technology segment will lead the market over the forecast period.
By application, the global automated passenger counting system market is segmented into airways, roadways, and railways. Of these, the railways segment will dominate the market over the forecast period.
By end users, the global automated passenger counting system market is segmented into ferry boats, trains, buses, and others. Of these, buses will have a major share in the market over the forecast period for the growing demand for smart bus.
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