Global Passenger Information System Market by Mode (Roadway, Railway, Airway & Waterway), by Component (Services, Solutions) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global passenger information system market was worth USD 19.9 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 9.6%) between 2020 and 2027. This market's current growth can be attributed largely to increasing demand for accurate, reliable and timely transit information from passengers. There has been an increase in the use of mobile devices and internet. This has led to a greater need for information from passengers and travelers in real time, which will allow them to travel more safely and connect with others. A rise in passenger journeys by public transport, as well as a growing infrastructure around the globe, is expected to increase demand for passenger information systems.

The passenger information system (PIS), which allows passengers to access relevant information about the state and nature of transport mediums such as buses, trains and airplanes, as well as information on boat ferries and boats, is called the Passenger Information System. According to the International Civil Aviation Organization, the number of passengers traveling worldwide climbed to 4.3 billion in 2018, which is 6.4% more than the previous year. The United Nations also predicted that urban areas will see an increase in public transport use, such as rail and transit buses, due to increasing urbanization. Over the forecast period, the 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 on-board services. Digitalization of transit operations has been a result of passengers' increasing demands. This will allow for the continued growth of the market.

Machine learning, artificial intelligence, big data, and Internet of Things (IoT) are the most important accelerators for the next industrial revolution. This will likely help to expand transportation infrastructure. IoT, machine learning technologies, AI, and machine learning will be used to enhance the passenger information system and communicate with the network technology. This will improve connectivity and speed up the dissemination of transit information. Transport IT solution providers want to be able 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.

Market growth will likely be driven by government initiatives to develop smart cities and smart transport. This will also contribute to the adoption passenger information systems in relation to intelligent transportation systems. In 2018, the U.S. Department of Transportation funded over USD 63.0 million to major transportation infrastructure projects in the U.S. Data security and privacy are a major concern for organizations. The use of information, storage and transmission must all be protected digitally. The market's short-term growth may be impeded by the resource-intensive nature of data collection as well as the difficulty in coordinating data sharing among multiple public transport agencies and organizations.

COVID-19 Impact insights

The World Health Organization (WHO), in response to the spread of COVID-19, declared a state of emergency on December 19, 2019. The countries' travel bans and quarantine measures have had a negative impact on the economy and the industries. According to the IATA's latest estimates, the airline industry will lose around USD 113--252 billion annually. Similar trends are expected to be observed in the rail and public transport industries. This will likely lead to temporary market repercussions in the next year. The global restrictions on travel and public transport have been lifted, so passenger information systems are expected to see a positive increase in use after 2022.

Type Insights

The largest share, 26.0%, was attributed to the information display system in 2019. A large number of transit stations use information display systems due to their compact size and low cost. Transit operators are increasingly using interactive kiosks, TFT screens and human-machine interfaces to provide reliable information to passengers. Technology advancements and the growing demand for smartphones, tablets and other handheld devices will increase the demand for information display systems segments.

In the next few years, the passenger information mobile solution will be the fastest-growing segment of the passenger information market. Passenger demand for mobile-based PIS apps is growing in response to the increasing use of smartphones and mobile devices. To attract passengers, transit agencies are focusing more on mobile applications. They offer quick, reliable and current information via mobile devices channel. The growth of the passenger information market is expected to be boosted by the introduction of multi-modal public transport applications and the increase in mobile subscribers.

Mode Insights

The largest market share in terms of revenue was 38.6% for the roadway segment in 2019. This is due to the fact that it is the most popular mode of public transportation around the globe. The market can be divided into three types of transport: roads, railways and airway. Due to the rapid growth of vehicle traffic around the world and the lack of infrastructure to support it, there has been a rise in concern for managing vehicular flow and management. This segment will see significant growth due to rising initiatives like India's Smart Cities Initiative and China's Intelligent Transportation System Association. These initiatives are aimed at improving traffic management systems and implementing intelligent transport systems.

Market growth is expected to be phenomenal due to the increase in urbanization and increased use of public transport such as trams, buses, metro, and rail. 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 a rise 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 market growth over time.

Component Insights

With over 75.0% of the market, the solution segment held the largest share in 2019, accounting for more than 75%. This growth can be attributed largely to an increasing demand for software and hardware equipment needed in transportation infrastructure. This solution segment covers equipment such as 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. Not only are the benefits of the passenger information system useful for passengers at airports and stations, but also in emergencies where critical information can be sent in real time at remote locations. The rise of professional consulting in emerging countries like India, Brazil, South Asia, and other South Asian countries will drive the services market to expand rapidly in the future. There are many support programs available that can be tailored to the specific needs of passengers.

Regional Insights

North America held a market share exceeding 30.0% in 2019. This was due to the increased focus on transportation infrastructure development and high investments by both private and public sector companies in intelligent transportation systems. According to the U.S. Department of Transportation in 2018, USD 63.9 billion was invested in major transportation infrastructure projects throughout the country. The European Union (EU), which has made significant investments in its transport infrastructure, totaling USD 390.0 billion through its Cohesion Policy (2004-2020). A number of 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.

Asia Pacific will likely be the fastest-growing region in the market during the forecast period. Both the government and the private sector are involved in digitalizing and upgrading the information systems in the public transport sector. A majority of transport sector departments in China and India have also implemented large-scale passenger information systems as part of their smart cities initiatives. This is a step towards creating an integrated transport system. The region is expected to see a rise in international travelers and a growing number of passengers using public transport.

Market Share Insights & Key Companies

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 market's growth will be supported by the proliferation of transportation apps, such as wanderu Inc, sontra (Sontra Solucoes Em Transporte Ltda) and 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 USD 3.7 million contract before this one included cameras, flat-screen LCD screens, and smart interactive boards. The new contract includes seven projects, including improved real-time baggage displays and digital signsboards for meet and greet. The market leader in passenger information systems is:

• Advantech Co., Ltd.

• Alstom

• Cisco Systems, Inc.

• Cubic Transportation Systems

• Hitachi, Ltd.

• Huawei Technologies Co., Ltd.

• Siemens AG

• TE Connectivity

• Thales Group

• Wabtec Corporation

Up Market Research published a new report titled “Passenger Information System Market research report which is segmented by Mode (Roadway, Railway, Airway & Waterway), by Component (Services, Solutions), By Players/Companies Huawei Technologies Co Ltd, Siemens AG, Thales Group, Advantech Co Ltd, TE Connectivity, Wabtec Corporation, Alstom, Cisco Systems Inc, Cubic Transportation Systems, Hitachi Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Passenger Information System Market Report Segments:

The market is segmented by Mode (Roadway, Railway, Airway & Waterway), by Component (Services, Solutions).

Passenger Information System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Passenger Information System Market

Overview of the regional outlook of the Passenger Information System Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Passenger Information System Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Passenger Information System Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Roadway

                2. Railway

                3. Airway & Waterway

                1. Services

                2. Solutions

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Passenger Information System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Passenger Information System Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.