Chicago, July 23, 2024 (GLOBE NEWSWIRE) -- The global automated passenger counting and information system market was valued at USD 9.2 billion in 2024 and is estimated to reach USD 15.4 billion by 2029, registering a CAGR of 10.7% during the forecast period.
The automated passenger counting and information system market is being propelled by the growing need for efficient public transportation management, demand for real-time passenger data analytics, and advancements in sensor technology enabling accurate counting and tracking functionalities. Additionally, government initiatives to modernize transportation infrastructure and enhance passenger experience further drive market growth.
To know about the assumptions considered for the study
Major Automated Passenger Counting and Information System Companies Include:
- Eurotech (Italy),
- Iris-GmbH (Germany),
- DILAX Intelcom GmbH (Germany),
- HELLA Agalia Mobile Vision (Germany) and
- Infodev EDI (US).
Automated Passenger Counting and Information System Market Segmentation Analysis:
Based on the technology, the stereoscopic vision segment is expected to account for the largest market share during the forecast period.
Stereoscopic vision technology is poised to contribute to the automated passenger counting system market substantially. This technology, leveraging depth perception from multiple cameras, enhances accuracy in identifying and tracking passengers, particularly in crowded or dynamic environments such as public transit. By capturing 3D images and analyzing spatial data, stereoscopic vision systems offer improved reliability in passenger counting compared to traditional 2D methods. This heightened accuracy translates into more precise ridership data, enabling transit authorities to optimize resource allocation, enhance service planning, and improve overall operational efficiency. As the demand for reliable and efficient passenger counting solutions grows, stereoscopic vision technology is expected to drive market expansion and innovation.
Based on the application, the segment for buses is projected to contribute significantly to the market share during the forecast period
Buses are anticipated to contribute significantly to the market share of the automated passenger counting system market for several reasons. Buses are one of the most widely used modes of public transportation in urban and suburban areas. As a result, there is a substantial demand for accurate and efficient passenger counting solutions to optimize bus operations, improve service quality, and enhance passenger satisfaction. Furthermore, buses typically operate on fixed routes with designated stops, making them conducive environments for implementing automated passenger counting systems. This allows for easier installation and integration of counting sensors and other hardware components.
Additionally, the relatively controlled environment within buses compared to other modes of transportation, such as trains or trams, simplifies data collection and analysis, leading to more accurate and reliable passenger counts. Furthermore, the modular nature of bus-based counting systems allows for scalability and customization to meet the specific needs of transit agencies and operators, further driving their adoption and market penetration. Overall, the widespread use of buses, combined with their suitability for deploying automated passenger counting solutions, positions applications in buses as significant contributors to the growth of the market.
Based on region, Asia Pacific is projected to grow fastest for the passenger information system market
The automated passenger counting and information system market in Asia Pacific includes China, Japan, South Korea, and the rest of Asia Pacific. Projected to exhibit the highest Compound Annual Growth Rate (CAGR) between 2024 and 2029, the Asia Pacific region's automated passenger counting and information system market is poised for significant expansion. This growth is fueled by the escalating adoption of passenger counting and information systems within transit vehicles to deliver dependable, secure, and punctual transportation services. Countries like China and India, boasting vast population bases, alongside the ongoing population growth in nations like Australia, drive the demand for intelligent transportation networks, ensuring passengers a reliable and secure travel experience. The burgeoning transportation sector, sustained investments to enhance public transit services, and the increasing integration of smart solutions within the transportation domain across the Asia Pacific present lucrative growth prospects for the market.
Recent Developments
- In November 2023, At APTA EXPO 2023, iris-GMBH unveiled the IRMA 6 R2 sensor generation and introduced the HYDRA IP video surveillance system. IRMA sensors employ advanced image processing and AI algorithms for real-time passenger and object counting, utilized by over 150 transit agencies across North America.
- In June 2023, The X-Wagen metro by Siemens started passenger service on the Viennese metro lines. The new rolling stock featured an innovative digital passenger information and guidance system, displaying real-time information above each door.
- In September 2022, Eurotech introduced its latest Edge AI solutions tailored for public transportation. These solutions are certified for use in both Road and Rail vehicles, paving the way for advanced mobility applications in the next era of transportation.
