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According to the latest report by IMARC Group, titled " PassengerInformationSystemMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunityan dForecast2023-2028
," the global passenger information system market size reached US$ 23.8 Billion in 2022.
A passenger information system refers to an automated system that provides real-time information regarding public transport to individuals. It is a digital information system that acts as a communication link between passengers and a transit agency. Generally managed by a transportation company, it can be accessed through a custom smartphone application or a webbased browser.
As a result, it offers customers with various options, including tracking, scheduling and emergency communication services. Besides this, it also assists passengers in attaining relevant information regarding the status of different transportation mediums, which enables them to plan their journey in advance conveniently.
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The global market is primarily driven by significant growth in the telecommunication sector. Moreover, continual technological advancements and the widespread deployment of the Internet of Things (IoT), cloud computing and big data across the sector are acting as major growth-inducing factors. Additionally, the increasing demand for intelligent transportation systems and the rising need to enable faster data transfer capabilities are creating a positive outlook for the market. Furthermore, the penetration of high-speed internet connectivity across the globe and the widespread adoption of smartphones among individuals are significantly influencing the market growth. Apart from this, continuous improvements in the information technology (IT) industry and rising funding and investments in order to upgrade the existing transport industry are providing an impetus to the market growth. Other factors, including rapid urbanization and digitization, especially in the emerging economies, along with extensive research and development (R&D) activities conducted by key players, are further projected to drive the market growth.
Looking forward, IMARC Group expects the market to reach a value of US$ 46.0 Billion by 2028, exhibitingataCAGRof11.51%during2023-2028.
View Report TOC, Figures and Tables:
https://www.imarcgroup.com/passenger-information-system-market
Key Market Segmentation
The research report includes the following segments:
Breakup by Mode of Transport:
• Airways
• Railways
• Roadways
Breakup by Component:
• Hardware and Software
• Services
Breakup by System Type:
• Multimedia Displays
• Audio Systems
• Computing Systems
• Networking and Communication Devices
• Video Surveillance Systems
• Content Management System
• Others
Breakup by Location:
• On Board
• In Station
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Competitive Landscape with Key Players:
• Advantech Co. Ltd
• Cisco Systems Inc
• Cubic Corporation
• Hitachi Ltd
• Huawei
• Indra Sistemas S.A
• Infax Inc
• Mitsubishi Electric Corp
• Passio Technologies
• Siemens
• Teleste Oyj
1. Whatwasthesizeoftheglobalpassengerinformationsystemmarketin2022?
2. Whatistheexpectedgrowthrateoftheglobalpassengerinformationsystemmarketduring 2023-2028?
3. Whatarethekeyfactorsdrivingtheglobalpassengerinformationsystemmarket?
4. WhathasbeentheimpactofCOVID-19ontheglobalpassengerinformationsystemmarket?
5. Whatisthebreakupoftheglobalpassengerinformationsystemmarketbasedonthemodeof transport?
6. Whatisthebreakupoftheglobalpassengerinformationsystemmarketbasedonthe component?
7. Whatisthebreakupoftheglobalpassengerinformationsystemmarketbasedonsystemtype?
8. Whatisthebreakupoftheglobalpassengerinformationsystemmarketbasedonthelocation?
9. Whatarethekeyregionsintheglobalpassengerinformationsystemmarket?
10. Whoarethekeyplayers/companiesintheglobalpassengerinformationsystemmarket?
Clickheretovisitthecompletetableofcontentwithlistoffiguresandtables: https://www.imarcgroup.com/passenger-information-system-market/toc
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