The global automatic passenger counting and information system market is riding high credited to the ample opportunities it is receiving from the passenger information system (PIS) industry and the automatic passenger counting (APC) industry.
Automatic passenger counting is a highly developed technology that assists transit agencies in enhancing the efficacy of their operations by providing the most accurate passenger-count data, whereas, a passenger information system or PIS is an electronic information system that delivers real-time passenger information. This system may include both, forecasts about the time of arrival and departure, as well as information about the nature and reasons of disturbance, if any.
Incredulity Concerning Accuracy of APC Technology Restricting Market Growth
The PIS industry is a experiencing an augment in the market attributed to the progression in technologies coupled with declining operational costs, increasing growth rate in telecommunication industry, and urbanization.
On the other hand, the government policies concerning the ridership data, the increased requirement for smart telematics solutions, and the rise in the demand for fleet optimization are the key driving forces behind the growth of the APC market. But, the incredulity regarding the accuracy of APC technology is a major concern. Additionally, fleet owners are taking APC technology as a threat, which is also adding to the troubles of this industry. However, the active pricing model and the expansion to the current real-time passenger information systems are the main opportunity-rich areas for the global APC market.
APC Market in Americas to Grow at 22% CAGR during Forecast Period
The global APC and PIS industry is analyzed on various fronts such as systems, devices and components, application, and regional markets. On the basis of systems, the market is classified into infotainment systems, announcement systems, display systems, emergency communication systems, and mobile applications systems. By devices and components, the public announcements, multimedia displays, sensors, and networking and communication devices markets are the segments of this industry. Furthermore, on the basis of applications, railways, roadways, airways, and waterways are market segments of the global APC and PIS markets.
Regionally, the global automatic passenger counting and information system market is distributed among the markets in North America, South America, Europe, Asia pacific, and the Rest of the World. The market in the Americas held a total share of around 55% in 2013. It is expected that this market will rise at a CAGR of approximately 22% between 2014 and 2020. Asia Pacific is likely to exhibit remarkable growth with 24% CAGR during the period of the forecast of this report.
Iris-GmbH, DILAX Intelcom GmbH, Siemens AG, Hella Aglaia Mobile Vision GmbH, Urban Transportation Associates, Inc., Cisco systems, Inc., GE Transportation, Huawei Technologies Co. Ltd., Hitachi, Ltd., Eurotech SpA, and Alstom are the major companies operating in the global APC and PIS market.
On the global front, the legacy systems, inadequate infrastructure, and lack of appropriate guidelines for ridership in the emerging economies are the major challenges, the automatic passenger counting and information system market is facing at present. However, the increasing acceptance of Cloud and big data technologies in developed as well as developing economies is expected to create opportunities for this market.