Report : Passenger Information System Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Location (On Board and In Station), Mode of Transportation (Roadways, Railways, and Waterways and Airways), and Functional Model (Multimedia Display, Audio Systems, Computing Systems, Networking and Communication Devices, Video Surveillance, and Content Management Systems)
According to the latest market study on “Passenger Information System Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Solutions and Services), Location (On Board and In Station), Mode of Transportation (Roadways, Railways, and Waterways and Airways), and Functional Model (Multimedia Display, Audio Systems, Computing Systems, Networking and Communication Devices, Video Surveillance, and Content Management Systems),” the market was valued at US$ 19,314.66 million in 2019 and is projected to reach US$ 45,717.11 million by 2027; it is expected to grow at a CAGR of 11.5% during 2020–2027. The report highlights key driving factors and prominent market players along with their developments in the market.
Passenger information system acts as the secured link between a transit agency or authorities and passengers, providing and dispersing the significant information needed for each of its end user. Such systems record and track down the necessary data related to real-time vehicle locations, current status updates, tentative journey schedules, and much more. Therefore, the important information reaches quickly without any defaults or changes to end user; hence such systems hold significance across the world. Passenger information system deploys the use of several interconnected devices, installed on platform or depots or any mode of transportation. They manage data and deliver reliable and accurate real-time transit information, which is significantly promoting the growth of passenger information system market.
The COVID-19 outbreak was first reported in Wuhan, China, in December 2019. Lockdowns, travel bans, and business shutdown measures implemented to mitigate the spread of the novel coronavirus are limiting the supplies of technology, media, and telecommunication solutions and services, which represents a significant loss for passenger information system companies.
Alstom; Cisco Systems Inc.; Cubic Corporation; Dysten Sp. z o.o.; Hitachi, Ltd; Huawei Technologies Co., Ltd; Singapore Technologies Engineering Ltd.; Teleste Corporation; Thales Group, and Wabtec Corporation are among the well-established players operating in the global passenger information system market.
The report segments the Global Passenger Information System market as follows:By Component