Passenger Information System Market
Passenger Information System Market (Component: Hardware [Display Systems, Networking Systems, and Audio Communication Systems], Software [PIS for Station and On-Board PIS], Mobile PIS, and Professional Services [Integration & Implementation Services and Support & Maintenance Services]; and Mass Transit Hub: Airport, Rail [Railways and Metros], Road, and Ports) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Demand for Display Systems Surges amidst COVID-19 Outbreak to Float Educational Posters
The ongoing battle with COVID-19 (coronavirus) has compelled transport agencies to adopt display systems to float messages about COVID-19 preventive measures. Hence, companies in the passenger information system market are capitalizing on this trend and increasing their production capabilities to increase the availability of display and audio communication systems. This trend is prominent in the Indian Railway industry. Indian transport agencies are adopting Bollywood-themed COVID-19 messages that grab the attention of individuals traveling through public transport.
Educational railway posters, with the help of LCD (Liquid Crystal Display) and LED (Light Emitting Diode) displays are a prominent trend in the Indian passenger information system market.
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Cost-efficient SaaS Platforms Create Incremental Opportunities for Vendors
Software as a Service (SaaS) is increasingly becoming the new trend in modern transit systems. SaaS models have facilitated the introduction of subscription-based account, which helps a user to fetch information from the cloud. As such, the subscription economy has been exploding in the past couple of years and holds promising potentials in the passenger information system market. For instance, LIT Transit— a provider of mobility technology solutions, is increasing its efficacy in SaaS-based passenger information systems (PIS) to provide flexibility in transit management.
The passenger information system market is undergoing a revolution from hardware dependent systems to hardware independent software. Transport agencies are increasingly adopting SaaS platforms, owing to its advantages of constant innovations and cost efficiency. Many agencies have experienced a boost in their performance levels after the deployment of SaaS platforms.
Next-gen On-board PIS Deploys Combined Infotainment and Commercial Content
Companies in the passenger information system market are profiting by increasing the availability of on-board PIS. For instance, Nomad Digital— a provider of passenger and fleet connectivity solutions, is building its portfolio in on-board passenger information systems that involve on-train screens and the delivery of journey information in the rail industry. Innovative on-board passenger information systems are bolstering the growth of the passenger information system market, which is estimated to reach US$ 65.3 Bn by the end of 2030.
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The demand for on-board passenger information systems is surging in the global market landscape, owing to needs of infotainment and content management. As such, commercial content is being controlled via scheduled programming technology, thus eliminating the need for employees in transport agencies. Vendors are increasing their R&D capabilities to develop single platform on-board PIS solutions for the rail industry.
Open Data Resources Deliver Real-time Information in U.K. Public Transport Industry
The passenger information system market is projected to advance at a robust CAGR of ~13% during the assessment period. This is evident, as transport agencies are harnessing the advantages of data in the public transport sector. As such, the public transport industry is pervasively becoming more digitalized. However, there is a lack of open and shared resources for data that adhere to privacy laws and General Data Protection Regulation (GDPR) in the European Union. Hence, companies in the passenger information system market are increasing their R&D efforts to tap into opportunities in the Internet of Things (IoT) in order to collect and share data to the people in real time.
Transportation in London is leading the way for open data in the U.K. Transportation agencies are using predictive analytics to study data and use the data to counter problems before they occur.
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Passenger communication in public transportation has become vital amidst the COVID-19 crisis where display and audio communication systems are maintaining public confidence in transport services. Autonomous ticketing is offering a plethora of advantages to passengers. However, there is a still a need for mobile apps that are integrated with the technology of both software and an algorithm to meet the convenience of passengers. Hence, companies in the passenger information system market are identifying such growth opportunities in mobile apps, and are developing apps that require shorter training time and less mobile storage space. Flexible content management in on-board passenger information systems has become important for transport agencies.
Passenger Information System Market: Overview
- The global passenger information system market is expected to reach US$ 65.3 Bn by 2030 from US$ 18.6 Bn in 2020, expanding at a CAGR of ~13% from 2020 to 2030
- The global passenger information system market is currently driven by increasing adoption of mobile PIS (Passenger Information System) among end users. The passenger information system market in Asia Pacific is projected to expand at a high CAGR during the forecast period. The growing adoption of passenger information systems in airports, metros, as well as ports has propelled the demand for passenger information systems in the region.
- China is the most attractive market in Asia Pacific. The incremental opportunity is significantly higher for China, as it accounts for a dominant share of the passenger information system market in the region.
Passenger Information System: Market Definition
- The passenger information system market report provides analysis of the global passenger information system market for the period 2018 - 2030, wherein 2019 is the base year, 2020 is the estimated year, and 2021 to 2030 is the forecast period. Data for 2018 has been included as historical information.
- Passenger information systems are a set of IT solutions, hardware, and services that provide public transport status information through voice, visual, or other mediums
- In this report, we analyze the challenges end users face in acquiring the right passenger information systems that can cope with rapidly changing world. The report also highlights the total revenue generated through the sale of passenger information systems across various key regions worldwide.
North America Passenger Information System: Market Snapshot
- The passenger information system market in North America is anticipated to expand at a rapid pace during the forecast period, followed by Europe. North America remains the leading market for passenger information systems, with revenues in 2020 estimated at US$ 6,887.4 Mn.
- Strong presence of passenger information system vendors, along with high spending in R&D in North America is a crucial factor fueling the passenger information system market. New enhancements related to passenger information systems are primarily introduced in the U.S. and then marketed around the world. Strong public transportation systems and network connectivity in the U.S. has increased the demand for passenger information systems. Increasing air passenger traffic in the U.S. and Canada is expected to propel the demand for advanced passenger information systems during the forecast period in the region.
Key Growth Drivers of Passenger Information System Market
- Customer Inclination for Rich Experiences – Today’s commuters are highly demanding and seek enduring travel experiences. Real-time information about routes, connections, disruptions, etc., not only helps commuters in better planning and optimum utilization of time but also indicates a professional set up and good reputation of the transport service provider. Quality of service plays a pivotal role in influencing the commuters’ decision to opt for the same transport again. Providing real-time information to commuters is a win-win situation for both the transport service provider and commuters. This radical practice is driving the passenger information system market toward significant growth.
- Rising Demand for Real-time Passenger Information Systems – The increasing demand for real-time passenger information systems for every mode of transport (rail, road, air, sea) is a key factor driving the market. Integration of the AVL system in public transportation systems help to provide real-time vehicle location to passengers so that they can analyze the arrival of public vehicles and manage their time accordingly.
Key Challenges Faced by Passenger Information System Market Players
- Passenger information system installation is costly, as it requires an overhaul of the existing system. In most countries, railways and city bus services are initially controlled by the government. As governments worldwide prioritize on developing airports and metros, railways and buses often get low budgets/investments. Furthermore, considerable bureaucracy and paperwork at multiple levels slows down the decision making process impacting the adoption of new technologies, such as passenger information systems.
Passenger Information System Market: Competition Landscape
- In December 2019, Indian Railways launched a new passenger information system at Anakapalle station in Vijayawada Division
- In July 2019, Simpleway signed a strategic partnership with Infax, Inc. to provide travel hubs with an intuitive audio-visual, passenger communication platform. With this partnership, companies are expected to offer a robust unified software system to end- users for passenger communication.
Passenger Information System Market: Company Profile Snapshot
- Advantech Corporation: Incorporated in 1983, Advantech Corporation is a Taipei, Taiwan based company that designs, develops, and markets industrial computing and automation solutions. The company provides various hardware, software, and services.
- Cubic Corporation: Cubic Corporation is a U.S.-based technology driven company that provides innovative, mission-critical solutions. The company designs, integrates, and operates systems, products, and services for transportation, communication, computers, information systems, etc.
- Other major players operating in the global passenger information system market and profiled in the report include
- Alstom SA
- Cisco Systems Inc.
- Fujitsu Ltd.
- Funkwerk AG
- Hitachi Ltd.
- Huawei Technologies Co., Ltd.
- Indra Sistemas S.A.
- Mitsubishi Electric Corporation
- Siemens AG
- Simpleway Europe a.s.
- Teleste Corporation
- Televic Group NV
- Thales Group
Passenger Information System Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global passenger information system market, to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the passenger information system market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the passenger information system market is expected to progress during the forecast period 2020-2030.
The report offers intricate dynamics about the different aspects of the passenger information system market that aids companies operating in the market in making strategic development decisions. TMR’s study elaborates on the significant changes that are highly anticipated to configure the growth of the passenger information system market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the passenger information system market, and estimate statistics related to the market progress in terms of value (US$ Mn).
The study covers a detailed segmentation of the passenger information system market, along with cross-country analysis, key information, and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the passenger information system market, wherein, various developments, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Passenger Information System Market
The report provides detailed information about the passenger information system market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the passenger information system market, so as to help them make successful strategies and take target-driven decisions.
- Which regions will continue to remain the most profitable regional markets for passenger information system market players?
- Which factors will induce a change in the demand for passenger information systems during the assessment period?
- How will changing trends impact the passenger information system market?
- How will COVID-19 impact the passenger information system market?
- How can market players capture low-hanging opportunities in the passenger information system market in developed regions?
- Which companies are leading the passenger information system market?
- What are the winning strategies of stakeholders in the passenger information system market to upscale their position in this landscape?
- What will be the Y-o-Y growth of the passenger information system market between 2020 and 2030?
- What are the winning imperatives of market frontrunners in the passenger information system market?
Research Methodology – Passenger Information System Market
The research methodology adopted by analysts to compile the passenger information system market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the passenger information system market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the passenger information system market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the passenger information system market.
Passenger Information System Market – Segmentation
TMR’s research study assesses the passenger information system market on the basis of component, mass transit hub, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the passenger information system market.
Mass Transit Hub