Passenger Information System Market is valued at USD 18.99 2018 Billion in 2018 and expected to reach USD 42.05 Billion by 2025 with the CAGR of 14.67% over the forecast period.
This Passenger Information System Market report also covers the impact of COVID-19 on the global market. The pandemic caused by Coronavirus (COVID-19) has affected every aspect of life globally, including the business sector. This has brought along several changes in Passenger Information System market conditions.
Surge in the passengers need for accurate transit, increasing technological advancement and developed network architecture are the major factors stimulating the growth of the global Passenger Information System market.
The Passenger Information System (PIS) is a system that automated, designed and deployed by public transportation, which includes roads, air routes and railways to show departure and arrival information for scheduled transportation vehicles specific time intervals. The passenger information system serves as a communication link between transit agencies and passengers. It allows you to provide real-time vehicle location and condition information, travel schedules and timely announcements. In addition to these functions, it also undertakes to entertain passengers through the infotainment system, thereby improving the driving experience for passengers. In addition, these systems can be deployed on platforms and inside transport vehicles, such as buses / trains / planes. PIS can be used to predict arrival and departure times, and can analyze delays and interference caused in detail, and can also save human resource costs, as there is no need for operators at each station. It allows passengers to understand information, orient it easily and better plan their trips, thus improving passenger comfort and satisfaction. PIS are widely used at a Station or Stop and even inside the bus or a train.
Global Passenger Information System market is segmented on the basis of component, solution, transportation mode and region. On the basis of component, the market is segmented into hardware, software and solutions. Based on solution, the market is segmented into passenger information mobile applications, information display system, infotainment system, emergency communication systems, and announcement system. Based on transportation mode, the market is segmented into airway, railway and roadway.
The regions covered in this Data Monetization market report are North America, Europe, Asia-Pacific and Rest of the World. Based on the country level market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the Passenger Information System market are,
Passio Technologies Inc.
Mitsubishi Electric Corporation
Singapore Technologies Electronics Limited
Global Passenger Information System Market Dynamics-
The significant factor that is going to boost the growth of the Passenger Information System market is the passengers need for accurate transit information in real time which would help them plan their travel accordingly. In the context of the growing popularity of smartphones, people traveling around the world are increasing the demand for passenger information systems based on mobile applications, which can help them stay on track while traveling. Transport agencies focus on PIS mobile applications to attract passengers and provide them with fast, real-time information via smartphone channels. Additionally, there is rise in the mobile subscribers worldwide with emergence of transit applications for users. AS per the bankmycell data, by 2020, the number of global smartphone users will reach 3.5 billion, or 45.04% of the global population with smartphones. The total number of people with smart and functional phones is 4.78 billion, which represents 61.51% of the world population. However, only a few regions of the world are equipped with such a high technological infrastructure to deploy advanced real-time passenger information systems and the high cost of deploying technical infrastructure should also become an obstacle to the growth of the global passenger information system market. The major opportunity is due to the increased adoption of big data & cloud technologies that is going to boost the growth.
Asia Pacific is expected to Witness a Fastest Growth in the Global Passenger Information System Market
North America has been the market leader so far and is expected to remain dominant in future in the global Passenger Information System market due to the ever increasing technological advancement and developed network architecture. North America is followed by Europe. According to statistics from the International Association of Public Transport (UITP), the total number of passenger journeys by public transport in the EU is around 60 billion per year. In comparison, long-distance railways represent 1 billion passengers and commercial aviation, 800 million passengers. In addition, the passenger capacity of the global metro increased from 45.051 billion passengers in 2012 to 53.768 billion passengers in 2017. Due to increased investment in new rail metro projects in the region, the Asia-Pacific region is expected to gain considerable market share and witness a fastest growth in the global passenger information system market, as the whole region is observing the opening of a new metro system every ten years. According to UITP statistics, during the decade 2010-19, a total of 33 metro systems were opened in the Asia-Pacific region (every ten years).
Key Benefits for Global Passenger Information System Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By component: Hardware, Software, Service
By solution: Passenger Information Mobile Applications, Information Display System, Infotainment System, Emergency Communication Systems, Announcement System,
By transportation mode: Airway, Railway, Roadway
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa