According to the latest report by IMARC Group, titled, “Passenger Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global passenger information system market size reached US$ 21.2 Billion in 2021. Looking forward, the market expects to reach US$ 41.6 Billion by 2027, exhibiting at a CAGR of 11.7% during 2022-2027.
A passenger information system (PIS) is a communication platform between a transit agency and passengers. It is also known as a customer information system and provides real-time information to users about public transport via voice, visual or other media. PIS helps in obtaining data about schedules, entertainment, news broadcasts, and emergency communication services. In line with this, it allows passengers to get relevant information regarding the status of various transportation mediums and facilitating them to plan their journeys better.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Passenger Information System Market Trends and Drivers:
The growing demand by passengers to receive reliable and accurate real-time transit information is propelling the growth of the passenger information system market. Moreover, the increasing adoption of intelligent transportation systems along with the growing advancements in the telecommunication industry to enable faster data transfer capabilities, is also inducing the demand for the passenger information system. Additionally, the several technological advancements, such as the Internet-of-Things (IoT), cloud computing, and big data analytics, in the transportation sector are also driving the sales of passenger information systems across the globe.
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 2022-2027 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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