Automated Passenger Counting System Market Size & Share

The study utilized four major activities to estimate the automated passenger counting and information system market size. Exhaustive secondary research was conducted to gather information on the market and its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. Finally, market breakdown and data triangulation methods were utilized to estimate the market size for different segments and subsegments.

Secondary Research

In the secondary research process, various sources were used to identify and collect information on the automated passenger counting and information system market for this study. Secondary sources for this research study include corporate filings (such as annual reports, investor presentations, and financial statements), trade, business, and professional associations, white papers, certified publications, articles by recognized authors, directories, and databases. The secondary data was collected and analyzed to determine the overall market size, further validated through primary research.

List of key secondary sources

Primary Research

To gather insights on market statistics, revenue data, market breakdowns, size estimations, and forecasting, primary interviews were conducted. Additionally, primary research was used to comprehend the various technology, application, vertical, and regional trends. Interviews with stakeholders from the demand side, including CIOs, CTOs, CSOs, and customer/end-user installation teams using automated passenger counting and information system offerings and processes, were also conducted to understand their perspective on suppliers, products, component providers, and their current and future use of automated passenger counting and information system, which will impact the overall market. Several primary interviews were conducted across major countries in North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America.

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Market Size Estimation

Both top-down and bottom-up approaches were utilized to estimate and validate the size of the automated passenger counting and information system market and its submarkets. Secondary research was conducted to identify the key players in the market, and primary and secondary research was used to determine their market share in specific regions. The process involved studying top players’ annual and financial reports and conducting extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives. Secondary sources were used to determine all percentage shares and breakdowns, which were then verified through primary sources. All parameters that could impact the markets covered in this research study were accounted for, analyzed in detail, verified through primary research, and consolidated to obtain the final quantitative and qualitative data.

Global Automated Passenger Counting and Information System Market Size: Botton Up Approach

• Identifying verticals that are either using or will use automated passenger counting systems.
• Tracking leading companies and system integrators operating across various verticals.
• Deriving the size of the automated passenger counting system market through the data sanity method; analyzing revenues of more than 25 key providers through their annual reports and press releases and summing them up to estimate the overall market size.
• Analyzing the use cases across different regions and companies
• Tracking the ongoing and upcoming installation contracts, acquisitions, expansions, and product launches by various companies and forecasting the market size based on these developments and other critical parameters.
• Conduct multiple discussions with key opinion leaders to understand automated passenger counting and information system components offered by companies to various applications and analyze the breakdown of the scope of work carried out by each major company providing automated passenger counting and information system components.
• Carrying out the market trend analysis to obtain the CAGR of the automated passenger counting system market by understanding the industry penetration rate and analyzing the demand and supply of automated passenger counting systems in different verticals.
• Assigning a percentage to the overall revenue or, in a few cases, to each company's segmental revenues to derive their revenues from the sale of automated passenger counting systems. This percentage for each company has been assigned based on their product portfolios
• Verifying and crosschecking the estimates at every level through discussions with key opinion leaders, including CEOs, directors, operations managers, and domain experts at MarketsandMarkets
• Studying various paid and unpaid information sources, such as annual reports, press releases, and white papers

Global Automated passenger counting and information system Market Size: Top-Down Approach

The top-down approach has been used to estimate and validate the total size of the automated passenger counting and information system market.

• Information related to the revenue of key manufacturers and providers of Automated passenger counting and information system components was studied and analyzed to estimate the global size of the Automated passenger counting and information system market.
• Multiple discussions were conducted with key opinion leaders to understand the demand for automated passenger counting and information system solutions and analyze the breakdown of the scope of work carried out by each major company.
• Revenue, geographic presence, key applications served, and diverse offerings of all identified players in the Automated passenger counting and information system market were studied to estimate and arrive at the percentage split of different market segments.
• All major players in the Automated passenger counting and information system market were identified through secondary research and verified through brief discussions with industry experts.
• Multiple discussions were conducted with key opinion leaders of all key companies developing Automated passenger counting and information system solutions to validate the market split based on technology, industry, and region.
• Geographic splits were estimated using secondary sources based on factors such as the number of players offering automated passenger counting and information system solutions in a specific country or region and the industries for which these players provide the solutions.

Data Triangulation

Once the overall size of the automated passenger counting and information system market was determined using the methods described above, it was divided into multiple segments and subsegments. Market engineering was performed for each segment and subsegment using market breakdown and data triangulation methods, as applicable, to obtain accurate statistics. To triangulate the data, various factors and trends from the demand and supply sides were studied. The market was validated using both top-down and bottom-up approaches.

Market Definition

Automated passenger counting (APC) systems comprise electronic devices that count the number of passengers boarding and alighting transit vehicles, including buses, trains, and ferries. These systems offer more accurate and reliable results than the traditional method of counting passengers manually. With the help of the automatic passenger counter, every single passenger that goes on board and alights a public transit vehicle at each stop of any route can be monitored and recorded easily, which helps to simplify data collection and enables far greater accuracy and scope for generating database reports on ridership information.

Passenger information systems (PIS) are electronic information systems that provide passengers with real-time information. This information can be about the arrival and departure time of transit vehicles and the nature and cause of disruptions in case of any delays. These systems are installed at transportation hubs or can be used remotely through web browsers and smartphones.

The APC and PIS ecosystem comprises manufacturers of APC and PIS products and solutions. The market is diversified, consisting of companies from different regions of the world competing across its value chain to sustain their positions and increase their market shares. The market will likely witness significant growth in the coming years due to the surging demand for advanced automation solutions in the transportation sector.

Key Stakeholders

• Manufacturers and distributors of components used in automated passenger counting and information systems
• Providers of software used in automated passenger counting and information systems
• Providers of products and solutions used in automated passenger counting and information systems
• Distributors of automated passenger counting and information systems
• End users (fleet operators of buses, trains, and ferries, as well as transport service providers)
• System integrators
• Mobile application developers
• Networking and communication service providers
• Passenger information system software providers
• Governments, financial institutions, and investment communities
• Research organizations

Report Objectives

• To define, describe, and forecast the automated passenger counting and information system market based on offering & application, and region
• To forecast the size of the market segments for four major regions—North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
• To study the complete value chain and allied industry segments and perform a market value chain analysis.
• To provide ecosystem analysis, case study analysis, patent analysis, technology analysis, pricing analysis, Porter’s five forces analysis, key stakeholders and buying criteria, key conferences and events, and regulatory bodies, government agencies, and regulations pertaining to the market
• To strategically profile the key players and comprehensively analyze their market shares and core competencies2.
• Analyzing the opportunities in the market for stakeholders and describing the market's competitive landscape.
• To analyze competitive developments such as collaborations, agreements, contracts, partnerships, mergers & acquisitions, product launches, and research & development (R&D) in the market
• To analyze the impact of the recession on the automated passenger counting and information system market

Available customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to 5)
• Additional country-level analysis of the automated passenger counting and information system market

Product Analysis

• Product matrix, which provides a detailed comparison of the product portfolio of each company in the automated passenger counting and information system market.