The global passenger information system market exhibited strong growth during 2015-2020.
A passenger information system acts as a communication link between a transit agency and passengers. Also known as a customer information system, it provides real-time data of public transport through voice, visual or other media to users. It helps in tracking details of scheduling, entertainment, news broadcasts, and emergency communication services. Besides this, it assists passengers in attaining relevant information about the status of different transportation mediums and enables them to plan their journeys better, which further increases passenger comfort and satisfaction.
The escalating demand for reliable and accurate real-time transit information by passengers represents one of the key factors propelling the passenger information system market growth. Apart from this, a rise in the demand for intelligent transportation systems, in confluence with advancements in the telecommunication sector to enable faster data transfer capabilities, is also fueling the market growth. Moreover, an increase in demand for intelligent transportation systems and a surge in the adoption of the Internet of Things (IoT), cloud and big data technologies in the transportation sector are driving the sales of passenger information systems across the globe. At present, due to a significant rise in the cases of the coronavirus disease (COVID-19), lockdowns have been imposed by governments of various countries. They are promoting the adoption of social distancing measures to avoid the spread of the pandemic, which is negatively impacting the market growth. However, the market is anticipated to experience growth once normalcy is regained. Looking forward, the analyst expects the global passenger information system market to grow at a CAGR of around 11% during 2021-2026.
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 United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Advantech Co. Ltd., Cisco Systems Inc., Cubic Corporation, Hitachi Ltd., Huawei, Indra Sistemas S.A., Infax Inc., Mitsubishi Electric Corp., Passio Technologies, Siemens and Teleste Oyj.
Key Questions Answered in This Report: How has the global passenger information system market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global passenger information system market? What are the key regional markets? What is the breakup of the market based on the mode of transport? What is the breakup of the market based on the component? What is the breakup of the market based on the system type? What is the breakup of the market based on the location? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global passenger information system market and who are the key players? What is the degree of competition in the industry?
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