NEW YORK, March 30, 2017 /PRNewswire/ -- "Automated passenger counting and information system market expected to grow at a significant rate between 2017 and 2022"
The automated passenger counting system market was valued at USD 105.3 million in 2016 and is expected to reach USD 298.0 million by 2022, growing at a CAGR of 18.6% between 2016 and 2022.
The passenger information system market was valued at USD 3.71 billion in 2016 and is expected to reach USD 11.34 billion by 2022, at a CAGR of 19.9% during the forecast period.
Government regulations such as the requirement of ridership data from transit operators on a regular basis, increasing demand for real-time transit information, increased adoption of advanced solutions in the transport sector, and advantages offered by APC to transit operators in optimizing operational costs are some of the factors driving the growth of the automated passenger counting and information system market. The lack of awareness of the benefits offered by passenger counting systems in some countries and poor infrastructure for installing passenger information systems restrain the growth of the market.
"Infrared-based automated passenger counting systems are expected to lead the automated passenger counting system market during the forecast period"
The automated passenger counting system market for the infrared technology led the market in 2016. Infrared-based passenger counting systems are low cost, simple to install and set up, and require low maintenance. The increasing government mandates for fleet operators to provide ridership data on a regular basis is one of the factors driving the growth of the market.
"Passenger information mobile application-based passenger information systems are expected to grow at a high rate in the passenger information system market during the forecast period"
The mobile applications provide passengers access to information irrespective of the location, enable them to view maps, and allow easy access to station and stop layouts. Moreover, the advancement in technology and the growing use of smartphones among passengers drive the growth of passenger information mobile applications in the market.
"APAC to grow at the highest rate in the automated passenger counting and information system market during the forecast period"
Asia-Pacific includes countries such as China, Japan, India, Australia, Singapore, Malaysia, Thailand, and so on. The healthy economic growth and growing urbanization are some of the driving factors for the growth of the transportation sector, which results in the increasing demand for automated passenger counting and information systems. APAC has developing economies, such as China and India, which are undergoing a huge infrastructural transformation in the transportation sector. Some of the most populated countries in the world are situated in the region, and to fulfill the transportation demand of such a huge population, large numbers of vehicles are necessary. To manage such a huge population for public transport more efficiently, there is a demand for automated passenger counting and information systems in the APAC region. The governments of China, India, and Australia are spending significant amounts of money to develop and improve the transit services. The increasing transport projects in China provide opportunities for the market. As public transport is the most preferred mode of commutation in the region, the transit service must be safe, timely, and reliable, which can be ensured by automated passenger counting and information systems.
Break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 33%, Tier 2 – 48%, and Tier 3 – 19%
- By Designation: C-Level Executives – 35%, Managers – 44%, Others – 21%
- By Region: North America – 30%, Europe – 37%, APAC – 21%, and RoW 12%
The major players in the automated passenger counting and information system market include Iris-GmbH (Germany), HELLA Aglaia Mobile Vision GmbH (Germany), Eurotech S.p.A. (Italy), DILAX Intelcom GmbH (Germany), Infodev Electronic Designers International Inc. (Canada), Cisco Systems, Inc. (U.S.) Siemens AG (Germany), Hitachi, Ltd. (Japan), Huawei Technology Co., Ltd. (China), init innovation in traffic systems AG (Germany), Clever Devices Ltd. (U.S.), Retail Sensing Ltd. (U.K.), Syncromatics Corp. (U.S.), and Trapeze Group (Canada).
The report defines, describes, and forecasts the automated passenger counting and information system market segmented on the basis of APC technology, APC application, PIS type, PIS applications, and geography. It provides detailed information regarding the major factors influencing the growth of the automated passenger counting and information system market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, new product launches and developments, and R&D in the automated passenger counting and information system market.
Reasons to Buy the Report:
- Illustrative segmentation, analysis, and forecast for the market based on technology, type, application, and geography have been conducted to give an overall view of the automated passenger counting and information system market.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the automated passenger counting and information system market.
- The major drivers, restraints, opportunities, and challenges for the automated passenger counting and information system market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
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