Automated Passenger Counting and Information System Market worth $15.4 billion by 2029

(IT-NEWSWIRE.COM, June 01, 2024 ) The global automated passenger counting and information system market was valued at USD 9.2 billion in 2024 and is estimated to USD 15.4 billion in 2029 at a CAGR of 10.7% during the forecast period. Several factors create an opportunistic environment for the automated passenger counting and information system market. Firstly, the increasing emphasis on enhancing public transportation efficiency and passenger experience, driven by urbanization and city congestion, presents a compelling opportunity to adopt advanced counting and information systems. Secondly, regulatory mandates in various regions requiring accurate reporting of ridership data to government agencies fuel the demand for such systems. Thirdly, integrating smart city initiatives and pushing for sustainable transportation solutions stimulate market growth. Additionally, technological advancements, particularly in sensors, data analytics, and connectivity, open up new possibilities for innovative solutions that cater to evolving transit needs. Moreover, the rising interest in data-driven decision-making and the need for real-time insights further drive the adoption of automated passenger counting and information systems, creating a conducive environment for market expansion.

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Based on the offering, passenger information system is expected to grow at a significant CAGR in the automated passenger counting and information system market from 2024 to 2029. The growth drivers of passenger information systems in mobility and transportation are driven by several factors, including the growing demand for enhanced passenger experience, the need for efficient route planning and scheduling, regulatory mandates for real-time information dissemination, advancements in technology enabling seamless integration of systems, and the rise of smart city initiatives promoting sustainable and connected mobility solutions. Additionally, the increasing use of mobile applications and IoT devices allows for personalized and accessible information delivery, while data analytics offer insights for optimizing operations and improving overall service quality..

Railways is expected to grow at a significant CAGR in the automated passenger counting and information system market from 2024 to 2029 based on the application of passenger information systems. Railways typically transport many passengers over long distances, necessitating accurate and efficient passenger counting and information systems to manage operations effectively. Railway operators increasingly recognize the importance of providing real-time information to passengers regarding train schedules, delays, and other relevant updates to improve overall customer satisfaction and experience. Thirdly, regulatory mandates in many regions require railways to implement automated passenger counting systems for accurate ridership data reporting. Moreover, technological advancements such as IoT integration and AI-driven analytics enable railways to optimize resource allocation, enhance operational efficiency, and offer personalized passenger services. Additionally, the growing trend towards smart transportation infrastructure and the development of smart cities further drive the adoption of automated passenger counting and information systems in the railway sector, positioning it for significant growth in the coming years.

By region, Europe held the largest share of the automated passenger counting and information system market. This growth is fueled by mandates for installing passenger counting systems on ferries, increased investments in transportation infrastructure and public transport efficiency, efforts to reduce passenger traffic congestion in the UK, and the need to enhance transport services and optimize transit operations. European transit agencies are becoming aware of the importance of automated passenger counting and information systems to optimize operations and enhance the quality of their services. Hence, these agencies are using automated passenger counting and information systems. The region's transportation infrastructure must be upgraded, thereby resulting in the installation of automated passenger information systems. Belgrade (Serbia) has undertaken the largest project of automated passenger counting systems to provide rapid and reliable transport services to passengers.

The automated passenger counting and information system market includes significant Tier I and II players such as Eurotech (Italy), Iris-GmbH (Germany), DILAX Intelcom GmbH (Germany), HELLA Agalia Mobile Vision(Germany) and Infodev EDI (US), Siemens (Germany), Hitachi (Japan) among others are some of the key players in the automated passenger counting and information system market.

These companies possess reliable manufacturing facilities and robust distribution networks in key regions such as North America, Europe, and Asia Pacific. They have established a strong reputation for their products and services, showcasing their industry expertise through a well-developed portfolio. Their substantial market presence is supported by effective business strategies, allowing them to maintain a significant market share.

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Automated Passenger Counting and Information System Market worth $15.4 billion by 2029