According to the latest report by IMARC Group, titled, “Passenger Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global passenger information system market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.51% during 2023-2028.
Passenger information system (PIS) refers to a digital information system that allows real-time monitoring, tracking, and easy handling of passenger data. It is utilized to forecast arrival and departure times and analyze delays and disturbances. It assists passengers in measuring punctuality and regularity of public transport, enhancing customer satisfaction, and providing the route and destination of vehicles. It also offers information about stations covered, emergency contact numbers, services provided inside the vehicle, and previous and upcoming stations. It aids in reducing complaints, providing high functional reliability, and improving traveling comfort. As a result, PIS is widely utilized in various transportation, such as airways, railways, and roadways, across the globe.
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Passenger Information System Market Trends and Drivers:
At present, the rising demand for intelligent public transportation systems among the masses that provide real-time transit information to passengers represents one of the primary factors supporting the market growth. Besides this, the growing adoption of the internet of things (IoT), cloud, and big data solutions in the transportation sector are offering a positive market outlook. Apart from this, technological advancements in the telecommunication industry to facilitate fast data transfer are positively influencing the market. Moreover, the rising demand for mobile application-based PIS due to the increasing adoption of smartphones around the world is strengthening the growth of the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Advantech Co. Ltd.
- Cisco Systems Inc.
- Cubic Corporation
- Hitachi Ltd.
- Indra Sistemas S.A.
- Infax Inc.
- Mitsubishi Electric Corp.
- Passio Technologies
- Teleste Oyj.
Passenger Information System Market 2023-2028 Competitive Analysis and Segmentation:
The report has segmented the market on the basis of Mode of Transport, Component, System Type, Location and Region.
Breakup by Mode of Transport:
Breakup by Component:
- Hardware and Software
Breakup by System Type:
- Multimedia Displays
- Audio Systems
- Computing Systems
- Networking and Communication Devices
- Video Surveillance Systems
- Content Management System
Breakup by Location:
- On Board
- In Station
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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