IMARC Group, a leading market research company, has recently releases report titled, “Passenger Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global passenger information system market trends, share, size and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the passenger information system market?
|Market Size in 2022||US$ 23.8 Billion|
|Market Forecast in 2028||US$ 46.0 Billion|
|Growth rate (2023 to 2028)||CAGR of 11.51%|
|Base Year of the Analysis||2022|
What is passenger information system?
Passenger information system (PIS) refers to a digital information system that allows real-time monitoring, tracking, and easy handling of passenger data. It is utilized to forecast arrival and departure times and analyze delays and disturbances. It assists passengers in measuring punctuality and regularity of public transport, enhancing customer satisfaction, and providing the route and destination of vehicles. It also offers information about stations covered, emergency contact numbers, services provided inside the vehicle, and previous and upcoming stations. It aids in reducing complaints, providing high functional reliability, and improving traveling comfort. As a result, PIS is widely utilized in various transportation, such as airways, railways, and roadways, across the globe.
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What are the growth prospects and trends in the passenger information system industry?
At present, the rising demand for intelligent public transportation systems among the masses that provide real-time transit information to passengers represents one of the primary factors supporting the market growth. Besides this, the growing adoption of the internet of things (IoT), cloud, and big data solutions in the transportation sector are offering a positive market outlook. Apart from this, technological advancements in the telecommunication industry to facilitate fast data transfer are positively influencing the market. Moreover, the rising demand for mobile application-based PIS due to the increasing adoption of smartphones around the world is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- Advantech Co. Ltd.
- Cisco Systems Inc.
- Cubic Corporation
- Hitachi Ltd.
- Indra Sistemas S.A.
- Infax Inc.
- Mitsubishi Electric Corp.
- Passio Technologies
- Teleste Oyj.
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