Passenger Information System Market to Grow at a CAGR of 11.5% to reach US$ 45,717.11 Million from 2020 to 2027

The passenger information system 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% from 2020 to 2027.

Passenger information system are established to make communication between transit authorities and passengers to delivering real-time data regarding vehicle location, journey schedule, timely announcements, and the overall updates required by passengers. Such types of systems are used to enhance the overall experience of passengers while transit by keeping them updated along with entertaining the passengers using various infotainment systems. Such systems are interconnected set of devices deployed on platform, bus stands, subway, port and others to dissipate real-time information about bus, train or flight. Growing focus over consistent, real-time, and reliable passenger information along with rising frequency of passenger journey through public transport are driving the growth of the passenger information systems market.

In 2019, North America dominated the global passenger information system market. Also, the market in North America is likely to grow rapidly during the forecasted period. The market growth in this region is primarily attributed to the rise in production and consumption of passenger information system in developed and developing economies of North America. The US is considered to be one of the largest markets where the use of cutting-edge technology and strong network infrastructure is significantly high. The region highly contributes to the growth of the passenger information system market owing to factors such as rapid urbanization along with growing use of public transport systems. Further, the rising use of passenger information system solutions and services on large scale basis is expected to promote its growth. The increasing number of government initiatives to digitalize and upgrade the network infrastructural facilities across the public transport is also bolstering the market growth. The presence of prominent manufacturers such as Cubic Corporation, Wabtec Corporation, Cisco Systems Inc. and others is another factor that drives the growth of the market.

The COVID-19 pandemic was first reported in Wuhan, China, in December 2019. As of November 2020, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are among the worst-affected countries in terms of COVID-19 confirmed cases and reported deaths. The pandemic is hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The semiconductor industry is one of the major industries facing serious disruptions—such as office and factory shutdown, and supply chain breaks—as a result of this outbreak. The pandemic has disrupted the supply chain and production process in passenger information system.

Global Passenger Information System Market

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Market Insights

Rising Frequency of Passenger Journey Through Public Transport

Public transportation comprises different transit options such as buses, rail or metros, and airways and subways. Passenger information systems play vital role for those people who cannot drive or do not have access to personal vehicles. Also, these systems are quite cost-effective, safer, and sustainable solution. The rapidly rising population density is changing infrastructural set-up.in urban centers. Moreover, rise in disposable income and shift in working demographic are another factors promoting the demand for public transport across passengers.

As per Pew survey conducted by Research Center in 2015, one-in-ten Americans (almost 11%) uses public transportation on a daily or weekly basis. The public transportation sector is undergoing a technological transformation across the globe. Further, the growing demand for advanced transit operations and rising preference toward interconnected, digitized, smart, and safe journey to uplift the overall experience drive the demand for passenger information system in public transportation. Public transport is gaining rapid momentum across urban infrastructural set-up as governments across the world are offering several transport-related subsidies to the various modes of transportation. The rising frequency of passenger journey through public transport is significantly proliferating the public transport sector; hence, generating the demand for passenger information systems (PIS).

Component Insights

Based on component, the passenger information system market is bifurcated into solution and services. In 2019, the solution segment dominated the market. The PIS solution is aimed to collect and disperse the updated real-time information by integrating several visual and audio components and wireless communications including Wi-Fi/LTE. Such devices are quite capable and effective enough to withstand extreme conditions. Several components categorized under solutions category are display systems, announcement systems, emergency communication systems, mobile applications, infotainment systems, passenger counting systems, and video monitoring systems. Amongst these, the display systems are extensively used by the end users. Display systems are defined as the systems that displays real-time visual information such as news, arrival and departure time in transits, advertisements, safety and emergency pop-ups, and several entertainment content to effectively and immediately deliver the message to the end users.

Location Insights

Based on location, the passenger information system market is bifurcated into on board and in station. The in station segment led the market with a larger share in 2019. The use of passenger information system in station is becoming quite prevalent as such displays provide necessary travel information such as arrival/departure times, platform numbers, destinations, intermediate stations, possible delays, and others to passengers. Such displays possess an open communication protocol and are quite flexible to be easily incorporated into current station management system. For instance, to offer better experience and easy guidance to passengers, the Indian Railways announced the use of new passenger information system at Anakapalle Railway station of the Vijayawada Division in South Central Railway. The use of passenger information and security system in the stations helps to properly dissipate the information. The system comprises displays such as text-only LED, advanced LED, plasma screen, a public address system, emergency intercoms, cameras, controllers for CCTV and media, and much more.

Global Passenger Information System Market, by Application – 2019 and 2027

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Mode of Transportation Insights

Based on mode of transportation, the passenger information system market is segmented into roadways, railways, and waterways and airways. The roadways segment led the market with the highest share in 2019. With the rapid rise in urbanization backed by upsurge in population density across cities, the demand for proper, well-connected, and safe road infrastructure is growing. At the same time, the use of public-transportation facility via roadways is perceived to be one of the best alternative to commute from one city to other without large traffic volumes in urban centers. Hence, the use of passenger information system in roadways set-up has gained prominence over the period of time. The system integrates the use of precise macro and micro location of the real-time panel along with real-time passenger algorithm and proper communication tools. For instance, the use of the Intelligent Transportation System (ITS) as a tool to improve service quality and offer better services to passengers is gaining popularity. The daily operation of a bus system generates the needs of such system which could effectively monitor and record the movement of vehicles on road, along with tracking uncertain conditions such as traffic congestion, unforeseen delays, rise or fall in passenger demand, and others. Under a real-time set-up, the researchers have introduced several flexible control strategies that are helpful to easily operate passenger information system network upon roadways.

Functional Model Insights

Based on functional model, the passenger information system market is segmented into multimedia display, audio systems, computing systems, networking and communication devices, video surveillance, content management systems. In 2019, the multimedia display segment dominated the market. In passenger information system, the multimedia system are entirely designed to provide users a real-time analysis of the route along with dissipating the significant advertising information, by using several content forms such as text, audio, video, and others displayed on screen and monitors. Such type of displays help effectively disperse the useful information or message to the passenger regarding their mode of commutation. For instance, the use of movies, audio-visual animations, or images in between all bus positions for high-resolution, greater brightness, superior legibility, clarity and visibility. The information displayed using multimedia system is widely accepted by disabled people and poorly informed people on the journey of the vehicle. The effective management of multimedia information system helps display the information automatically at local level or in real time with the help of an operating center connected through various types of communication.

Strategic Insights

A few of the key players operating in the passenger information system market are Huawei Technologies Co., Ltd.; Thales Group; Cisco Systems; Cubic Corporation; and Teleste Corporation. These companies provide passenger information system for the diversified industry applications, and operate their system production and distribution services in various countries across the world. These strategies help them in cater a wider customer base. Market players are highly focused on the development of high quality and innovative service offerings to meet the customer’s requirements. The companies are realizing the potential of passenger information system and are expanding their production facilities globally.

Report Spotlights

• Progressive industry trends in the global passenger information system market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2017 to 2027
• Estimation of the demand for passenger information system across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for passenger information system
• Market trends and outlook coupled with factors driving and restraining the growth of the market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the market growth
• Passenger information system market size at various nodes of market
• Detailed overview and segmentation of the market and its dynamics in the industry
• Passenger information system market size in various regions with promising growth opportunities

Global Passenger information system Market, by Component

• Solution
• Services

Global Passenger information system Market, by Location

• On Board
• In Station

Global Passenger information system Market, by Mode of Transportation

• Roadways
• Railways
• Waterways and Airways

Global Passenger information system Market, by Functional Model

• Multimedia Display
• Audio Systems
• Computing Systems
• Networking and Communication Devices
• Video Surveillance
• Content Management System

Company Profiles

• 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
• Wabtec Corporation