The automated people mover market is set to grow at a 5% CAGR from 2019-2029, driven by airport and urban transit needs, with North America leading in revenue.
Automated people movers enable efficient interconnection between airport gates and city centers at several airports. Low capital investments and relatively lesser operational costs would remain the primary factors driving adoption of automated people movers. Future Market Insights (FMI) recently published a research report on automated people mover market that projects a healthy 5% CAGR for revenue growth of the market during 2019-2029. By the end of forecast period, automated people mover sales are expected to account for revenues worth ~US$ 4 Bn.
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Key Takeaways – Global Automated People Mover Market Report
“Technologically advanced automated people movers offer design advantages in addition to cost benefit. Several automated people movers are further enhanced with safety features that enable manufacturers to gain a competitive edge in the consolidated market. The equipment is generally made-to-order, which means that winning contracts is crucial for manufacturers. Acquiring contracts for operations & maintenance will also remain an important strategy adopted by prominent companies in automated people mover market.”
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Key Segment
System Type
Application
Region
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Competitive Landscape Analysis
The automated people mover market is characterized by a high degree of consolidation, as a result of the presence of limited players. Tier-I companies account for over 3/4th of the total market value. Some of the leading manufacturers, such as Bombardier Inc., Mitsubishi Heavy Industries, Ltd., and Siemens AG, are prioritizing joint ventures for developing innovative automated people mover systems. With LAX’s Automated People Mover, a number of public private partnership (PPP) projects are projected to shape up at the U.S. airports in the near future. Companies are also expected to focus on expanding their sales footprint in emerging markets, such as Asia Pacific and Middle East & Africa. Such players have been establishing offices and sales partnerships in these regions.
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article discusses the growth of the automated people mover market, projected to grow at a 5% CAGR from 2019-2029.
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