Global Passenger Information System Market By Type (Information Display System, Announcement System, and Other Types), By Mode (Airway & Waterway, Railway, and Roadway), By Component (Solution and Services) and by Region and Companies Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.

Passenger Information System Market Overview:

The global passenger information system market was valued at USD 24,079 million in 2021. It is expected to grow at a compound annual growth rate (CAGR of 10%) between 2023 and 2032.

This market’s current growth can be attributed primarily to the increasing demand for accurate, reliable, and timely passenger transit information. There has been an increase in mobile devices and the internet. This has led to a greater need for information from passengers and travelers to be able to access it instantly. A rise in passenger journeys by public transport and a growing infrastructure around the globe is expected to increase demand for passenger information systems. This market report provides a detailed analysis of the passenger information system market size, share, growth, key trends, and other key factors.

Market Scope:

Type Analysis

28.0% was the largest percentage attributed to information display systems in 2021 based on the type. Technology advances in displays will make information display system segments in high demand. This is due to a growing demand for tablets and smartphones as well as other handheld devices. Because of their small size and low price, many transit stations use information display systems. To provide reliable information to passengers, transit operators increasingly use interactive kiosks, TFT screen screens, and human-machine interfaces.

The passenger information mobile solution segment will grow rapidly in the coming years. The increasing popularity of smartphones and other mobile devices is driving passenger demand for mobile-based PIS applications. Transit agencies are now focusing on mobile apps to attract passengers.

Transit agencies are focusing more on mobile applications to attract passengers. They provide reliable and timely information via mobile devices. Multi-modal public transport apps and an increase in mobile subscribers are expected to boost the growth of the passenger information industry.

Mode Analysis:

The Passenger Information System market can be divided into four types of transportation: roads, rails, airways, and waterways. The largest market share in terms of revenue was 39% for the roadway segment in 2021. This is due to the fact that it is the most popular mode of public transport around the globe. Due to the huge increase in vehicular traffic worldwide and the absence of infrastructure to support it, there has been a growing focus on managing vehicular movement and its smooth flow. This segment will see significant growth due to rising initiatives like China’s Intelligent Transportation System Association and India’s Smart Cities initiative in intelligent transport systems and improvements in traffic management systems.

Market growth is expected to be phenomenal due to increased urbanization and increased use of public transport such as trams, buses, metros, and trains. The market is poised to grow rapidly with improvements in connectivity and mobile device penetration, as well as a rise of transportation technology aggregators.

Public transport has seen an increase in passengers choosing public transport. In addition, rising fuel costs and the inconvenience of parking vehicles are driving people to choose public transport. This will increase Passenger Information System market growth over time.

Component Analysis

With a 76.6% market share in 2021, the solution segment held the largest market share. This growth can be attributed largely to the increasing demand for software and hardware equipment used in transportation infrastructure. This solution segment covers multi-media devices, communication devices and networking devices, sensors, routers, and routers. These solutions allow passengers to access information either physically in a transport vehicle or remotely via mobile apps or web browsers.

The passenger information system provides a range of information about transit, including real-time arrival and departure statuses of public transport vehicles, highlight vehicle delays, and other emergency notifications. The benefits of the passenger information system are useful for passengers at airports and stations but also in emergencies where critical information can be sent in real-time at remote locations. Many vendors offer support programs tailored to passengers’ needs. The rise of professional consulting in emerging countries like India, Brazil, and other South Asian countries will drive the services market to expand rapidly.

Key Market Segments:

By Type

•  Information Display System
• Announcement System
• Infotainment System
• Other Types

By Mode

•  Airway & Waterway
• Railway
• Roadway

By Component

•  Solution
• Services

Market Dynamics:

Passenger information systems (PIS) allow passengers to access relevant information about the state and nature of transport mediums such as buses, trains, and airplanes. According to the International Civil Aviation Organization, the number of passengers traveling worldwide will climb to 6.3 billion in 2021, 7.2% more than the previous year. The United Nations also predicted that urban areas will increase public transport use due to increasing urbanization by 2032. Over the forecast period, the Passenger Information System market will likely grow due to the increasing number of passengers and travelers as well as the expansion of global public transport infrastructure.

Rail and bus companies must differentiate themselves in an increasingly connected world by offering more appealing services to passengers and travelers. In addition, passengers expect consistent, reliable, real-time information. They want accurate information on key parameters like arrival times, connections, and alternative routes, as well as disruptions and onboard services. Digitalization of transit operations has been a result of passengers’ increasing demands. This will allow for the continued growth of the market.

Artificial Intelligence, Machine Learning, the Internet of Things, and Big Data are the most important accelerators for the next industrial revolution. This will likely aid in the growth of the transportation infrastructure. IoT, machine learning technologies, AI, and machine learning, will be added to the passenger information system. This will improve connectivity and speed up the dissemination of transit information. Transport IT solution providers want to respond quickly and efficiently to the changing needs of passengers. The Innovation in traffic systems SE (INIT) Departures Live App is one example. Comfortably supports cross-media communication to provide real-time emergency and passenger information.

Regional Analysis

North America held a Passenger Information System market share exceeding 32.1% in 2021 due to its greater emphasis on transportation infrastructure development and high investments by private and public sectors in intelligent transportation systems. According to the U.S. Department of Transportation, in 2021, US$ 65 billion was invested in major transportation infrastructure projects throughout the country.

The European Union (EU) has made significant investments in its transport infrastructure, totaling US$ 396.0 billion through its Cohesion Policy (2004-2020). Several key players, such as Advantech Co., Thales Group, Siemens AG, Alstom, and Siemens AG, will likely drive significant market growth in Europe over the forecast period.

Over the forecast period, Asia Pacific will likely be the fastest-growing Passenger Information System market region. Both the government and the private sector are involved in digitalizing and upgrading the information systems in the public transport sector. Most transport sector departments in China and India have also implemented large-scale passenger information systems as part of their smart cities initiatives to create an integrated transport system. The region is expected to see a higher demand for passenger information systems due to increased ridership in public transport and an increase in international travelers.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Industry players will be able to access emerging markets quickly and improve their technological capabilities by forming partnerships, strategic mergers, and acquisitions. The market will benefit from product differentiation and the enhancement of solutions. The Passenger Information System market’s growth will be supported by the increasing number of transportation website aggregators as well as the proliferation of transport apps like Wanderu Inc, Sontra Solucoes Em Transporte Ltda, and Zendrive (Zendrive Inc.).

The contract for the enhanced technology upgrades at Tampa International Airport (Florida) was increased to USD 7.9 Million by Audio Visual Innovations Inc. in December 2019. The new contract includes seven projects, including improved real-time baggage displays and digital sign boards for meet and greet. Before this one, the USD 3.7 million contract had cameras, flat-screen LCD screens, and smart interactive boards. The market leader in passenger

Маrkеt Кеу Рlауеrѕ:

These are some prominent Passenger Information System Market companies:

•  Advantech Co., Ltd.
•  Alstom
•  Cisco Systems, Inc.
•  Cubic Transportation Systems
•  Hitachi, Ltd.
•  Huawei Technologies Co., Ltd.
•  Siemens AG
•  TE Connectivity
•  Thales Group
•  Wabtec Corporation
•  Other Key Players

For the Passenger Information System Market research study, the following years have been considered to estimate the market size: