Overview and Scope
The passenger information system is an automated system used in public transport terminals to analyze delays and disturbances and anticipate arrival and departure timings. Passenger information systems are crucial to improving customer satisfaction, reducing complaints, increasing service usage, and improving planning.
Sizing and Forecast
The passenger information system market size has grown rapidly in recent years. It will grow from $25.17 billion in 2023 to $27.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to urbanization and public transportation growth, regulatory compliance, enhanced passenger experience, increased mobility and connectivity, safety and security concerns.
The passenger information system market size is expected to see rapid growth in the next few years. It will grow to $42.62 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to personalized passenger services, predictive analytics for service optimization, cybersecurity measures, sustainability and eco-friendly transportation. Major trends in the forecast period include technological advancements in communication, augmented reality (AR) and virtual reality (VR), real-time travel information, integration with mobile devices, multimodal integration.
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Segmentation & Regional Insights
The passenger information system market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Location: On Board, In Station
3) By Transportation Mode: Railways, Roadways, Airways And Waterways
4) By Functional Mode: Multimedia Displays, Audio Systems, Computing Systems, Networking And Communication Devices, Video Surveillance, Content Management System, Other Functional Modes
North America was the largest region in the passenger information system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the passenger information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing number of travelers and passengers is expected to propel the growth of the passenger information system market going forward. The passenger information system provides real-time updates on the status of public transportation and other information that passengers and travelers would use to have a safer and more enjoyable commute. For instance, according to a report by the International Air Transport Association, a Canada-based trade association of the world's airlines, revenue passenger kilometers, or RPKs, which measure total traffic, increased by 76.0% and domestic traffic increased by 11.7% in March 2022 compared to March 2021. Therefore, the growing number of travelers and passengers is driving the growth of the passenger information system market.
Key Industry Players
Major companies operating in the passenger information system market report are Huawei Technologies Co Ltd., Hitachi Ltd., Siemens AG, Airbus SE, Cisco Systems Inc., Mitsubishi Electric Corporation, Toshiba Corporation, Thales Group, Alstom SA, Atos SE, Singapore Technologies Engineering Ltd., Wabtec Corporation, Icon Multimedia, Bombardier Inc., Indra Sistemas S.A., Advantech Co Ltd., LOT Group, Cubic Corporation, Neusoft Corporation, TOYO DENKI SEIZO K.K., Teleste Corporation, LANCom D. O. O., Secheron SA, ENABLE INTERNATIONAL LIMITED, AMiT Transportation, EKE-Electronics Ltd., Quester tangent Corp, Televic Rail, Dittolive Incorporated, Infotek Software & Systems Private Limited Stadler Rail
The passenger information system market report table of contents includes:
1. Executive Summary
2. Passenger Information System Market Characteristics
3. Passenger Information System Market Trends And Strategies
4. Passenger Information System Market - Macro Economic Scenario
5. Global Passenger Information System Market Size and Growth
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31. Passenger Information System Market Other Major And Innovative Companies
32. Global Passenger Information System Market Competitive Benchmarking
33. Global Passenger Information System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Passenger Information System Market
35. Passenger Information System Market Future Outlook and Potential Analysis
36.Appendix
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Global Passenger Information System Market was valued US$ 14.34 Bn in 2017 and is expected to reach US$ 45.54 Bn by 2026, at a CAGR of 15.54% during a forecast period.Passenger information system market is a communication link between a transport agency and passengers.
It empowers to deliver information related to real-time vehicle location status updates, timely announcements, and schedule of the journey.Advancements in the telecommunication sector to enable faster data transfer capabilities, increasing IoT adoption in transportation sector, growing urbanization coupled with rising traffic in public transits, and increasing demand for intelligent transportation systems are the major factors for the growth of the marketGet More Information Passenger Information System Market: https://www.trendsmarketresearch.com/report/sample/6051High cost associated with implementation, managing the passenger information and technical limitation are some of the factors restraining the market growth.
Additionally, lack of awareness, use of legacy systems, and poor internet connectivity in the underdeveloped nations limit the deployment and usage of passenger information systems.Increasing adoption of cloud and big data technologies is expected to provide good opportunities for the market growth.Railway segment is estimated to grow at a significant pace during the forecast period owing to rising the traveling comfort for passengers, giving them real-time information.
So that, we are designing, installing and maintaining passenger information systems for every rail environment.Passenger information mobile applications allow passengers to look at availability of buses, while at home, in the office, hotel.
Addresses safety concerns, makes managing simple, improves efficiency time savings is boosting the passenger information mobile applications segment.North America is the largest share of global passenger information system market owing to technological advancement and developed network architecture.
However, the Asia Pacific and South America are estimated to grow at a higher rate during the forecast period due to the growing population and increased per capita income.Key players in global passenger information system market are Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, Advantech Co., Ltd, Huawei Technologies, Cisco, TE Connectivity, and Toshiba Corporation.Request For Report discount: https://www.trendsmarketresearch.com/report/discount/6051Scope of the Global Passenger Information System MarketGlobal Passenger Information System Market by ComponentHardwareSoftwareServicesGlobal Passenger Information System Market by SolutionInformation Display SystemAnnouncement SystemsInfotainment SystemsPassenger Information Mobile ApplicationsEmergency Communication SystemsGlobal Passenger Information System Market by Mode of TransportationAirwayRailwayRoadwayGlobal Passenger Information System Market by GeographyNorth AmericaEuropeAsia-PacificMiddle East AfricaSouth AmericaKey Players operating in the Global Passenger Information System MarketAlstomCubic CorporationHitachi, LtdIndraMitsubishi Electric CorporationSiemens AGSingapore Technologies Electronics LimitedTeleste CorporationThalesToshiba CorporationAdvantech Co., LtdHuawei TechnologiesCiscoTE ConnectivityReport Description : https://www.trendsmarketresearch.com/report/analysis/MMR/global-passenger-information-system-market View More : Information Technology & TelecommunicationAbout Us:Trends Market Research is one of the leading digital services provider and a result-oriented company based in U.K... We are a team of enthusiastic-driven individuals with top notch skills in SEO, Market research.
Global Passenger Information System Market was valued US$ 14.34 Bn in 2017 and is expected to reach US$ 45.54 Bn by 2026, at a CAGR of 15.54% during a forecast period.Passenger information system market is a communication link between a transport agency and passengers.
It empowers to deliver information related to real-time vehicle location status updates, timely announcements, and schedule of the journey.Advancements in the telecommunication sector to enable faster data transfer capabilities, increasing IoT adoption in transportation sector, growing urbanization coupled with rising traffic in public transits, and increasing demand for intelligent transportation systems are the major factors for the growth of the marketFor more info, Get PDF at: https://www.trendsmarketresearch.com/report/sample/6051High cost associated with implementation, managing the passenger information and technical limitation are some of the factors restraining the market growth.
Additionally, lack of awareness, use of legacy systems, and poor internet connectivity in the underdeveloped nations limit the deployment and usage of passenger information systems.Increasing adoption of cloud and big data technologies is expected to provide good opportunities for the market growth.Railway segment is estimated to grow at a significant pace during the forecast period owing to rising the traveling comfort for passengers, giving them real-time information.
So that, we are designing, installing and maintaining passenger information systems for every rail environment.Passenger information mobile applications allow passengers to look at availability of buses, while at home, in the office, hotel.
Addresses safety concerns, makes managing simple, improves efficiency time savings is boosting the passenger information mobile applications segment.North America is the largest share of global passenger information system market owing to technological advancement and developed network architecture.
However, the Asia Pacific and South America are estimated to grow at a higher rate during the forecast period due to the growing population and increased per capita income.Key players in global passenger information system market are Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, Advantech Co., Ltd, Huawei Technologies, Cisco, TE Connectivity, and Toshiba Corporation.Scope of the Global Passenger Information System MarketGlobal Passenger Information System Market by ComponentHardwareSoftwareServicesGlobal Passenger Information System Market by SolutionInformation Display SystemAnnouncement SystemsInfotainment SystemsPassenger Information Mobile ApplicationsEmergency Communication SystemsYou can Buy This Report from Here @ https://www.trendsmarketresearch.com/checkout/6051/SingleGlobal Passenger Information System Market by Mode of TransportationAirwayRailwayRoadwayGlobal Passenger Information System Market by GeographyNorth AmericaEuropeAsia-PacificMiddle East AfricaSouth AmericaGet Discount on This Report: https://www.trendsmarketresearch.com/report/discount/6051Key Players operating in the Global Passenger Information System MarketAlstomCubic CorporationHitachi, LtdIndraMitsubishi Electric CorporationSiemens AGSingapore Technologies Electronics LimitedTeleste CorporationThalesToshiba CorporationAdvantech Co., LtdHuawei TechnologiesCiscoTE Connectivity
