Market Highlights
Passenger Information System (PIS) are those innovative ICT solutions that create a fully connected digital transportation infrastructure. PIS deliver cloud-based services, broadband connectivity, and well-connected digital devices to help transport operators build safer, smarter, and more efficient transportation systems, improving transportation capacity continuously and driving service innovations. Integrating cloud, IoT, big data, and AI passenger information system helps in ensuring secure, reliable, and efficient operations at transport infrastructure.
Passenger Information System encompasses various components such as multimedia displays, networking devices, communication devices, sensors and others. Now-a-days passengers are becoming demanding and to enhance the passenger experiences, transport service providers started offering other features along with scheduling information and provide additional services for better experience.
The global Passenger Information System (PIS) market has been growing continually, mainly due to the huge technological advances in the transport sector. Rapid urbanization and ever-increasing population demand up-gradation of transportation infrastructures and systems used to manage travelers information. Moreover, the increasing demand to counter security concern at public transports infrastructures escalates the market on the global platform.
Considering the kind of growth, the market is garnering currently Market Research Future (MRFR) in its recently published study report asserts that the global passenger information system (PIS) market would reach a valuation of USD 21.39 BN by 2022, registering a whopping CAGR of 23.17% throughout the forecast period (2016 to 2022).
Due to the rising, threatening situations in the crowded areas security protocols have been tightened at every transport infrastructure, furnishing them with advanced equipment to ensure security. Resultantly, implementations of PIS are rising, which is a key growth driver for the growth of the passenger information system market.
On the flip side, the high cost of components and technical limitation are some of the factors inhibiting the growth of the market. Technological advancements over the period have upgraded these passenger information systems to a great deal.
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Segmentation:
The market is segmented into five key dynamics:
By Transportation Mode: Railways, Airways, and Roadways.
By Services: Cloud and Professional.
By Component: Sensors and Multimedia Devices, among others.
By Solution: Information Announcement Systems, Display Systems, Emergency Communication Systems, Infotainment Systems, Passenger Information, and Mobile Applications among others.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Key Players:
Key players leading the global PIS market include Passio Technologies, Inc. (US), Infax, Inc. (US), General Electric Company (US), DTI Group (Australia), Cubic Transportation Systems (US), Huawei Technologies Co. Ltd (China), Siemens AG (Germany), Medha Servo Drives Pvt. Ltd (India), Advantech Corporation (Taiwan), and Neusoft Corporation (China), among others.
Regional Analysis:
The competitive landscape of global Passenger Information System market is formed by major players of the market and some of the new entrants. North America leads the market for global Passenger Information System market. The technical advancements in the region, developed network architecture and high adoption rate of cloud-based services are driving the market for global Passenger Information System.
The global Passenger Information System market has led by North America in 2016 by generating highest revenue of USD 2 billion and is expected to grow with 23% CAGR. Whereas, Asia-Pacific is projected to be the fastest growing region with 25% CAGR during forecast period 2016-2022.
Asia-Pacific Passenger Information System Market, by country has dominated by China in 2016. It has generated market value of USD 600 million in 2016 and is projected to grow with 25% CAGR. Followed by Japan which has generated second highest market revenue in 2016. Whereas, India is expected to grow with fastest growing 29% CAGR. However, rest of Asia-Pacific which includes countries such as South Korea, Thailand, Malaysia, Australia, Singapore and others would be expected to grow with 16% CAGR during forecast period 2016-2022.
Passenger Information System (PIS) Market – Competitive Landscape
Highly competitive, the passenger information system market appears to be fragmented with the presence of several well-established players. Brand reinforcement, mergers & acquisitions, and innovation remain the key trends for these leading players.
These vendors strive to develop an information solution that can deliver a suite of application offerings to help address the needs at the bus stations, railway stations, and airports. Using time-tested methodologies and best practices, these players try to bring together disparate point systems from multiple providers into a security-rich, integrated environment that addresses resource planning, passenger experience, and asset management.
Industry/Innovation/Related News:
June 11, 2019 ----- Huawei Technologies Co. Ltd. (China), a multinational technology company officially released its new Urban Rail Light Cloud, next-generation LTE-R, and 5G Digital Indoor System (DIS) solutions at the UITP Global Public Transport Summit 2019.
Advanced features of Huawei ‘s next-generation LTE-R solution include multiple trunking services such as Mission Critical Push-to-Talk (MCPTT) voice, video, and data, leveraging one LTE-R network that enables passenger information system (PIS), train control & dispatching CCTV, and other rail services. Supporting 5G-oriented evolution and interconnectivity with GSM-R, the solution will enable a future of intelligent railways where all things are connected.
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List of Figures
FIGURE 1 GLOBAL PASSENGER INFORMATION SYSTEM MARKET STRUCTURE
FIGURE 2 MRFR RESEARH PROCESS
FIGURE 3 GLOBAL PASSENGER INFORMATION SYSTEM MARKET: DRIVERS & RESTRAINTS
FIGURE 4 GLOBAL PASSENGER INFORMATION SYSTEM: SUPPLY/VALUE CHAIN
FIGURE 5 GLOBAL PASSENGER INFORMATION SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 6 GLOBAL PASSENGER INFORMATION SYSTEM MARKET BY SOLUTION, 2016-2022 (USD MILLION)
FIGURE 7 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY COMPONENT, 2016-2022 (USD MILLION)
FIGURE 8 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY SERVICES, 2016-2022 (USD MILLION)
FIGURE 9 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY TRANSPORTATION MODE 2016-2022 (USD MILLION)
FIGURE 10 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY REGION, 2016-2022 (USD MILLION)
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