Passenger Information System Market is calculated to be mark USD 64.51 billion by 2030, registering a CAGR of 12.14% during the forecast period (2020 - 2030). In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years. The Report provides Market Share and Size, CAGR, Key Players, Growth Drivers and Barriers, Capacity & Volume, SWOT & other analysis, Sales, Revenue & Passenger Information System Market Forecast.
The global passenger information system market is expected to register a 12.4% CAGR from 2020 to 2026. The market is driven by the increasing security concerns regarding public transportation systems, rapid urbanization, and increasing traffic in public transits. The rapid growth in the number of railway and roadway projects across developing countries creates demand for passenger information systems. For instance, in India, in January 2020, the Indian Railway installed a European-style passenger information system. The new passenger information system has been installed at the Anakapalle station of the Vijayawada Division of the South-Central Railway (SCR) zone to provide easier access to important information for passengers at the station. Similarly, countries such as Mexico and the UK have also heavily invested in installing advanced passenger information system. These instances show that the market for passenger information systems is expected to display great opportunity in the coming years.
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According to MRFR analysis, Infax, Inc. (Georgia), Passio Technologies, Inc. (US), General Electric Company (US), Huawei Technologies Co. Ltd (China), DTI Group (Australia), Cubic Transportation Systems (US), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd (India), and Neusoft Corporation (China) were some of the key players of the global passenger information system market as of 2018. The growth of the market vendors depends on the advancements in technology, market conditions, government support, regulatory compliance, and industry development. Thus, the vendors should focus on expanding geographical presence and improving the quality of services
The global market for passenger information systems has been segmented based on solution, component, services, transportation mode, and region.
By solution, the passenger information system market has been segmented into information announcement system, display system, emergency communication system, infotainment system, passenger information mobile application, and others. The display systems segment accounted for the largest market share in 2018, and it is expected to register a 12.0% CAGR during the study period. The passenger information mobile application segment is expected to register the highest CAGR. Passenger information display systems are digital information systems, which display real-time information for passengers. The technology delivers real-time information updates and offers various valued information such as arrival times, departure times, delay information, system maps, and others. The display systems also offer news and entertainment content as well as safety and emergency announcements and others. Thus, all these benefits of display systems drive the display systems segment in the global passenger information system market during the forecast period.
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By component, the passenger information system market is segmented into multimedia display, networking devices, communication devices, sensors, and others. The networking devices segment accounted for the largest market share in 2018; it is expected to register the highest CAGR of 12.9% during the forecast period. The devices that are used for organizing a network, connecting to a network, routing the packets, and strengthening signals are known as network devices. These network devices play a vital role in passenger information systems. The networking devices are used to connect to other networks. The passenger information system is upgrading eventually, and the updated/ advanced passenger information systems feature more connectivity features, online applications, and GPS based devices, among others. Therefore, to establish proper and reliable connectivity, the networking devices are of great use. Thus, the networking devices segment is expected to register notable growth in the global passenger information system market during the study period.
By services, the passenger information system market has been classified into cloud services, professional services, and integration services. The integration services segment accounted for the largest market share in 2018; it is expected to register a 12.5% CAGR during the forecast period. There are various transportation modes available, and each transportation mode has multiple requirements. To fulfill these requirements, different types of passenger information systems with various features and customizations are integrated to provide a complete solution. With the technological advancements, various new features such as GPS tracking and automated solutions and implications of sensors are added to the passenger information systems. Integration services help in upgrading and integrating passenger information systems.
Based on transportation mode, the passenger information system market has been classified into roadways, railways, and airways. The railways segment accounted for the largest market share in 2018, with a market; it is expected to register a 12.6% CAGR during the forecast period. However, the roadways segment is expected to register the highest CAGR.
General Electric (US)
Huawei technologies co. Ltd (China)
Cubic Corporation (US)
Siemens AG (Germany)
Advantech Corporation (Taiwan)
Medha Servo Drives Pvt. Ltd. (India)
Neusoft Corporation (China)
INFAX INC. (US)
Passio Technologies Inc. (US)
DTI Group (Australia)
Construcciones Y Auxiliar De Ferrocarriles
Hitachi LTD. (Japan)
Stadler Rail AG (Switzerland)
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Globally, the passenger information system market has been categorized into four different regions—North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the passenger information system market in 2018. Asia-Pacific is expected to be the fastest-growing market from 2018 to 2026. Additionally, Europe is expected to hold the third position in the passenger information system market in terms of share during the assessment period.
North America is the dominating region in terms of market share. The regional market is characterized by the presence of many passenger information system providers that offer their services at the local and international levels.
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 18
2 MARKET INTRODUCTION
2.1 DEFINITION 19
2.2 SCOPE OF THE STUDY 19
2.3 RESEARCH OBJECTIVE 19
2.4 MARKET STRUCTURE 20
3 RESEARCH METHODOLOGY
4 MARKET INSIGHTS
5 MARKET DYNAMICS
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