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 growth, size, share and trends forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
The global passenger information system market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.51% during 2023-2028.
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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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.
The report has segmented the market into the following categories:
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
The report covers the major market players including:
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.
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