Passenger Information System Market Expectations & Grow by Almost USd 24.08 Bn, Globally, At 10% CAGR: Market.us
In 2021, the global passenger information system market was worth USD 24.08 billion. It is projected to grow at a compound annual rate (CAGR) of 10% between 2023-2032.
Transit agencies are required to provide accurate, reliable, and current transit information to their passengers. This is why the market is growing. There are several growth factors in the market, including the increased use of the internet and mobile devices by travellers and passengers to search for factual information. This is important because it allows them to travel more safely and connect with others.
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The market for passenger information systems is growing due to a greater focus on reliable, consistent and reliable passenger information, as well as a rising number of passengers using public transport. A rise in passenger journeys by public transport annually, as well as the growing infrastructure around the globe, is expected to stimulate demand for passenger information systems.
Passenger Information System Market Drivers:
-The Passenger Information System market (PIS Market) has many key drivers, including the growing adoption and an increasing number of software-defined Information centers.
- Cloud-based tools are becoming more popular. Software-defined network companies in the large-area can offer cloud computing services.
- More Smart Phones Adopted
- Cloud & Big Data Technologies Increasingly Popular
Passenger Information System Market Restraint: Stringent transportation regulatory policies
To limit market growth, there are two main factors:
1) High implementation costs
2) Lack of infrastructure for passenger information systems.
Taxi owners in multiple countries need separate licenses and registration papers to conduct their operations. This presents challenges for providers of app-based mobility services as they don't own these vehicles. The vehicle operators cannot provide services on-demand to their customers under the transportation regulatory policies. This has a negative impact on the growth of this segment.
Recent Developments in Passenger Information System Market:
In January 2021, Cubic Corporation launched "UMO" fully integrated suite of platforms for mobility, riders, Service providers and transit agencies to enhance its existing transportation technology portfolio. UMO is a versatile set of solutions that enables passengers plan trips across public and private modes and to pay fares, receive rewards for travelling, and get real-time information to improve their mobility.
Alstom purchased Bombardier Transportation in January 2021. Alstom will increase its leadership position in the rapidly growing sustainable mobility sector by achieving critical size in all geopolitics and integrating additional solutions to better serve its clients around the world as part of this purchase.
In June 2020, Wabtec Corporation launched “BlueFilter”, an air-filtration invention, to provide a healthy, and clean atmosphere for train and metro passengers. BlueFilter in railcars removes more than 90%of impurities every air cycle, TUV tested and meets high safety standards.
Attribute Details
Market
Competitive analysis
Regional Scope
Company Overview Financial Highlights Product Portfolio SWOT Analysis Key Strategies and Developments and more...
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc. Saudi Arabia, UAE, Egypt, Nigeria and South Africa Report coverage
Country Scope
Revenue analysis, Manufacturers Analysis, Volume by Manufacturers, Company Share Analysis, Key segments, Key company analysis, Market Trends, Competitive landscape, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, Strategy for existing players to grab maximum market share and more... No.
Scope of the Report
Size in 2021 USD 24.8 Bn Growth Rate 10% Historical Years 2016-2020 Base Year 2021 Quantitative Units USD In Bn
Report
Report Key Market Segments: By Type Information Display System Announcement System
of Pages in Report 200+ Pages No. of Tables & Figures 150+ Format PDF/Excel Sample
Available - Click here to Get a Sample
Infotainment System and Other Types
By Mode
Airway & Waterway
By Component
Market segment by Region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Frequently Asked Questions:
What is Passenger Information System (PIS), and what does it mean?
What are the driving forces of the PIS market?
What are the main challenges facing the PIS market?
Who are the main vendors in the passenger-information system market?
How does the industry compare in terms of competition?
What is the global passenger information system market worth?
Which region is expected to have the largest passenger information system market share?
What value is the passenger information systems market for the future?
Railway
Roadway
Solution
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