Automated Passenger Counting System Market Competitor Strategy, Industry Trends, Forecast 2022
Market Scenario:
Automated passenger counting system uses electronic sensors for recording boarding and alighting data of passengers. The global automated passenger counting system market is projected to grow at a CAGR of 20 % during the forecast period of 2016 to 2022.
Market Dynamics:
Explosive Growth And Growing Complexity Of Travel And Tourism Is The Prime Driver Of The Market
The explosive growth of travel and tourism, increasing concern of passenger security, growing complexity, and means of travel, demand for real-time information, and customer satisfaction are the prime drivers of the market. Effective management of crowd help to mitigate concerns of security especially in public transport systems is an essential paradigm behind the adoption of passenger counting system.
Development Of Automation And Sensor Technology, And Advent Of Analytics Is Expected To Be The Future Of The Market
The developments in automation and sensor technology, advent of analytics, benefits of price discovery, cost-effectiveness owing to automation, increasing necessity to achieve fleet optimization, demand for smart telematics solutions forecasting, business and operations intelligence gained by the advantage of the passenger counting systems are driving greater adoption. Elimination of errors resulting from manual paperwork, the convergence of information at a single platform and others are the technological drivers of the market. The real-time information presented by systems which help in forewarning about an untoward event, thereby contributing to take corrective action is another driver of the market. Development of greater functionality such as surveillance, capacity prediction, and others are also fuelling the demand.
The pricing of tickets and upgrading to real-time passenger information systems are the most extensive market opportunities for the automated passenger counting system market. The better accuracy and generation of transit use patterns by linking boarding and alighting data with stop or station location is another market opportunity.
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Lack Of Awareness Is The Prime Deterrent Of The Market
The high cost of installation and maintenance, lack of awareness, and concerns over data security are prime deterrents of the market growth.
The key drivers for the growth of the automated passenger counting system are and growing urbanization. Also, government regulations supporting automated supporting system installations in the North-American region. However, the high initial cost in the price-sensitive emerging economies and relatively quick return on investment is hindering the growth of the market.
Geographically, North America accounted for the most significant market share in the global automated passenger counting system market whereas Asia-Pacific region is expected to grow at a fast pace over the forecast period 2016-2022.
Dominant Players
The prominent players operating in the global automated passenger counting system market report include Ris-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), Clever Devices Ltd. (U.S.), Retail Sensing Ltd. (U.K.), Syncromatics Corp. (U.S.), and Trapeze Group (Canada) and others.
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Segments:
The global automated passenger counting system market is segmented by technology, application, end-users, and region.
By technology, the market is segmented into infrared, stereoscopic vision, time-of-flight, IP cameras.
Based on application, the market is segmented as railways, roadways, airways. Railways accounted for the most significant market share owing to need for real-time information related to train timetables, train delays, current location, emergency announcements, advertisements and infotainment services.
Based on end-users, the market is segmented into buses, trains, ferry boats among others.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific and rest of the World.
Regional Analysis:
North America is dominating the passenger counting system market followed by Europe. Asia-Pacific is anticipated to be the fastest growing markets in China and India dominating the market. The rest of the world is projected to generate a moderate growth. Europe is supposed to be dominated by Germany, France, and Italy.
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