Government regulations such as requirement of ridership data from transit operators on a regular basis driving the Growth of Automated Passenger Counting System Market

(IT-NEWSWIRE.COM, March 17, 2020 ) The automated passenger counting system market is expected to reach USD 298.0 million by 2022, at a CAGR of 18.6% between 2017 and 2022. The passenger information system market was valued at USD 3.7 billion in 2016 and is expected to reach USD 11.3 billion by 2022, at a CAGR of 19.9% between 2017 and 2022. Factors such as the increasing demand for real-time transit information, government regulations such as requirement of ridership data from transit operators on regular basis, advantages offered by APC to transit operators in optimizing operational cost, and increased adoption of advanced solutions in transport sector would provide ample growth opportunities for the automated passenger counting and information system market in the future.

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Driver: Government regulations such as requirement of ridership data from transit operators on a regular basis

Given the continuously increasing population worldwide, there is a growing need for proper management of transport services to provide services more efficiently to the passengers. Governments in many countries are taking initiatives to maintain the database of all passengers’ trips through all modes of public transports such as bus, trains, and ferries. One of the major driving factors for the market is the government regulations in some countries where the government requires the ridership data from fleet operators on a regular basis. The government agencies demand this data from transit agencies to keep track of the industry, regional development planning, trends analysis, and multi-year comparison. This mandate of providing data to government significantly drives the automated passenger counting system market. According to the Federal Transit Administration (FTA), an agency within the U.S. Department of Transportation, every transit agency is required to submit the transit data such as monthly ridership, transit trends, and so on to the National Transit Database (NTD).

“APAC is expected to dominate the automated passenger counting and information system market between 2017 and 2022”

The APAC region comprises highly populated and rapidly developing countries such as China, India, and so on. These countries are investing huge amounts of money for developing the transportation sector to match the economic and cultural standards of developed countries, which would drive the automated passenger counting and information system market in the region. The increasing adoption of automated passenger counting and information systems in transit vehicles, including trains, metros, and buses, in the countries such as India, Australia, China, and others spurs the growth of the automated passenger counting and information system market.

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).

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Government regulations such as requirement of ridership data from transit operators on a regular basis driving the Growth of Automated Passenger Counting System Market