The automated people mover industry in Korea is poised for substantial growth through 2034, with an expected CAGR of 4.4%, particularly in the South Gyeongsang and North Jeolla regions. The demand for automated people movers has become a mainstream industry, and this growth trend is expected to drive the sector to an estimated valuation of around USD 113.65 million in 2024. With a positive outlook and the increasing reliance on online shopping platforms, the demand for automated people movers in Korea is projected to reach an impressive USD 176.29 million by 2034.
South Korea’s automated people mover (APM) industry is witnessing accelerated growth, supported by rapid urban development, increasing passenger traffic in airports, and a focus on sustainable transportation solutions. With the rise of megacities and urbanized regions, APM systems offer a highly efficient and environmentally friendly mode of transportation, helping reduce road congestion and enhance connectivity within urban centers, commercial areas, and major transport hubs. South Korea’s emphasis on smart infrastructure and advanced transit technologies has further propelled the APM market, driving innovations that improve passenger experience and system efficiency.
As South Korea aims to establish smart cities with connected and accessible transit systems, APM solutions play an essential role in achieving these goals. Government initiatives focused on reducing emissions and promoting eco-friendly transportation alternatives align well with the expansion of APM networks. The integration of cutting-edge technology, such as automated control systems and energy-efficient designs, positions South Korea’s APM industry as a pioneer in creating modern, sustainable transit solutions.
Comprehensive Market Insights: Full Report Overview
Key Drivers for the Automated People Mover Industry in South Korea:
- Rapid Urbanization and Population Growth: Increased urbanization has created demand for efficient, high-capacity transit solutions, with APM systems helping address transit needs within crowded urban and commercial areas.
- Government Emphasis on Eco-Friendly Transportation: Policies promoting low-emission, sustainable transit options are driving investments in APM infrastructure and supporting industry expansion.
- Growth of Smart City Development Initiatives: South Korea’s smart city projects integrate APM systems to provide seamless and sustainable mobility options, enhancing urban connectivity and accessibility.
- Technological Advancements: South Korea’s leadership in automation and transit technology enhances the reliability, safety, and efficiency of APM systems, catering to the demands of modern urban transportation.
Key Takeaways:
- Increased Demand for Efficient Urban Transport: With high population density in urban areas, South Korea’s APM systems provide a crucial solution to manage commuter volumes and reduce traffic congestion.
- Supportive Government Policies: Investment in eco-friendly transit and infrastructure development aligns with South Korea’s commitment to sustainable growth, driving APM industry expansion.
- Technological Edge: Advanced automation and control systems used in South Korea’s APMs offer a competitive edge, ensuring enhanced safety, efficiency, and passenger convenience.
- Alignment with Smart City Goals: As South Korea continues its smart city initiatives, APM systems are poised to play a pivotal role in creating accessible, integrated, and eco-conscious urban transport networks.
Some of the Key Players Offering Automated People Mover in Korea
- Siemens AG
- Bombardier Transportation
- Mitsubishi Heavy Industries, Ltd. (MHI)
- Hitachi, Ltd.
- Thyssenkrupp
- Doppelmayr Group
Key Segments Covered in the Korea Automated People Mover Industry Analysis
By System Type:
- Monorail
- Duo Rail
- Automated Guide Way Transit or Maglev
By Application:
- Airport
- Urban Transit
- Amusements Parks
- Shopping or Commercial Centers
- Others
By Province:
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju
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