Overview and Scope
The passenger information system is an automated system used in public transport terminals to analyze delays and disturbances and anticipate arrival and departure timings. Passenger information systems are crucial to improving customer satisfaction, reducing complaints, increasing service usage, and improving planning.
Sizing and Forecast
The passenger information system market size has grown rapidly in recent years. It will grow from $25.17 billion in 2023 to $27.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to urbanization and public transportation growth, regulatory compliance, enhanced passenger experience, increased mobility and connectivity, safety and security concerns.
The passenger information system market size is expected to see rapid growth in the next few years. It will grow to $42.62 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to personalized passenger services, predictive analytics for service optimization, cybersecurity measures, sustainability and eco-friendly transportation. Major trends in the forecast period include technological advancements in communication, augmented reality (AR) and virtual reality (VR), real-time travel information, integration with mobile devices, multimodal integration.
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Segmentation & Regional Insights
The passenger information system market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Location: On Board, In Station
3) By Transportation Mode: Railways, Roadways, Airways And Waterways
4) By Functional Mode: Multimedia Displays, Audio Systems, Computing Systems, Networking And Communication Devices, Video Surveillance, Content Management System, Other Functional Modes
North America was the largest region in the passenger information system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the passenger information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing number of travelers and passengers is expected to propel the growth of the passenger information system market going forward. The passenger information system provides real-time updates on the status of public transportation and other information that passengers and travelers would use to have a safer and more enjoyable commute. For instance, according to a report by the International Air Transport Association, a Canada-based trade association of the world’s airlines, revenue passenger kilometers, or RPKs, which measure total traffic, increased by 76.0% and domestic traffic increased by 11.7% in March 2022 compared to March 2021. Therefore, the growing number of travelers and passengers is driving the growth of the passenger information system market.
Key Industry Players
Major companies operating in the passenger information system market report are Huawei Technologies Co Ltd., Hitachi Ltd., Siemens AG, Airbus SE, Cisco Systems Inc., Mitsubishi Electric Corporation, Toshiba Corporation, Thales Group, Alstom SA, Atos SE, Singapore Technologies Engineering Ltd., Wabtec Corporation, Icon Multimedia, Bombardier Inc., Indra Sistemas S.A., Advantech Co Ltd., LOT Group, Cubic Corporation, Neusoft Corporation, TOYO DENKI SEIZO K.K., Teleste Corporation, LANCom D. O. O., Secheron SA, ENABLE INTERNATIONAL LIMITED, AMiT Transportation, EKE-Electronics Ltd., Quester tangent Corp, Televic Rail, Dittolive Incorporated, Infotek Software & Systems Private Limited Stadler Rail
The passenger information system market report table of contents includes:
1. Executive Summary
2. Passenger Information System Market Characteristics
3. Passenger Information System Market Trends And Strategies
4. Passenger Information System Market – Macro Economic Scenario
5. Global Passenger Information System Market Size and Growth
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31. Passenger Information System Market Other Major And Innovative Companies
32. Global Passenger Information System Market Competitive Benchmarking
33. Global Passenger Information System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Passenger Information System Market
35. Passenger Information System Market Future Outlook and Potential Analysis
36.Appendix
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