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Automated People Mover (APM) Market:Executive Summary
The automated people mover (APM) industry hit a significant high in the year 2018 and is expected to rise phenomenally all across the globe. The rise in per capita coupled with increasing frequency of air travels has helped the automated people mover (APM) industry immensely. On the other hand, affordable ticket prices and the booming hospitality standards have worked in favor of the industry. This, in turn, has attracted major investors all across the globe.
When it comes to Automated People Mover (APM), there is a slew of factors that affect the growth prospects of the industry. The rising number of elderly individuals and the effort of the companies to improve their services have helped the industry grow by leap and bound. On the other hand, advancements in the automobile industry and better algorithms for self-driving cars is expected to give a significant push to the industry. The industry has a global application and hence is a massive hit among the investors. However, the growth of self-driving vehicles is expected to pose a significant challenge for the industry.
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However, despite the advantages, the industry is looked at with skeptic's eyes. But despite the consumer sentiments, the analyst remains positive about the growth prospects. The innovation in an automated people mover (APM) has boosted the growth prospects positively. The innovation and the research and development in the space has been the vital driving force for the growth of the industry. However, stiff competition and higher prices may hamper the growth of the sector. The industry has been evolving rapidly, with its application found for recreational or modern-day transit purposes.
Segmentation
The Automated People Mover (APM) can be segmented based on several key factors. The segmentation allows one to have a look at the industry from multiple lenses and hence will enable one to have a picture of the industry from various lenses. These segmentations combined, allows one to have a clear picture of the industry with an unbiased opinion on the same. However, two significant factors based on which the industry can be segmented into are by type and by the application. Based on type, the industry is segmented into a monorail, duo rail, automated guideway transit, and several others. On the other hand, based on application, the industry is segmented into airports, amusement parks, urban transportation, shopping centers or commercial center, and others.
Regional Overview
When it comes to Automated People Mover (APM), the industry can be segmented based on several key factors. The industry finds its largest market in developed regions like the United States and Europe. On the other hand, the Asia Pacific region also shows excellent signs of growth too. The sector is expected to flourish in the next few years in the following area.
Industry News
In a recent piece of news, Los Angeles World Airport has declared that it will work on an Automated People Mover (APM) train that would transport passengers out of Los Angeles International Airport (LAX) Central Terminal Area (CTA).
Continuous…
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