USD 26.63 billion
Global Passenger Information System Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Solution(Information Announcement Systems, Display Systems), By Mode of Transportation(Railway, Bus) - Industry Forecast 2024-2031
Report ID:
SQMIG45C2072 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
76
Global Passenger Information System Market Insights
Global Passenger Information System Market size was valued at USD 26.63 billion in 2022 and is poised to grow from USD 29.8 billion in 2023 to USD 73.3 billion by 2031, growing at a CAGR of 11.9% in the forecast period (2024-2031).
In recent years, the global passenger information system market has been experiencing significant growth driven by the rising demand for enhanced passenger experience and the modernization of public transportation systems.
PIS technologies, encompassing real-time information, interactive displays, and communication systems, are crucial in providing timely updates to commuters. Urbanization, coupled with the increasing need for efficient public transport services, further propels market expansion.
Integration of advanced features like mobile applications, GPS, and cloud-based solutions contributes to the market's dynamism. However, challenges such as high installation costs and interoperability issues may impact the market's widespread adoption.
As cities worldwide focus on smart transportation solutions, the Passenger Information System market is poised for continuous innovation and growth.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Services
Growth Rate
11.9% CAGR
Global Passenger Information System Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Passenger Information System Market By Component ($ Bn)
Global Passenger Information System Market By Component(%)
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Global Passenger Information System Market Segmental Analysis
The global passenger information system market is segmented into four major segments i.e. by component, by solution, by mode of transportation, and region. Based on components, it is divided into hardware, software, services. Based on the solution, it is bifurcated as information announcement systems, display systems, emergency communication systems, infotainment systems. Based on mode of transportation it is segregated into, railway, bus, airway, maritime. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by Type
Software is expected to dominate the market due to its integral role in providing the intelligence and functionality of Passenger Information Systems (PIS). The increasing emphasis on data analytics, real-time updates, and system integration fuels the demand for robust software solutions in PIS, making it the dominant component.
Services are anticipated to be the fastest growing component type. As the adoption of PIS increases, there is a growing need for services such as system maintenance, upgrades, and support. The dynamic nature of technology requires ongoing services, and as the market expands, the demand for service-related components is likely to witness rapid growth.
Analysis by Solution
Information Announcement Systems are expected to dominate the market as they form the core of Passenger Information Systems (PIS), providing essential updates and announcements to passengers. The real-time communication and vital information delivery offered by this solution make it a central and indispensable component in various modes of transportation.
Infotainment Systems are anticipated to be the fastest growing solution. The increasing focus on enhancing passenger experience and providing additional services, such as entertainment, advertising, and interactive content, drives the demand for Infotainment Systems. As the industry evolves, the integration of advanced and engaging passenger-centric features positions Infotainment Systems for rapid growth in the Passenger Information System market.
Global Passenger Information System Market By Component, 2023 (%)
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Global Passenger Information System Market Regional Insights
Asia-Pacific is expected to dominate the Passenger Information System market. Rapid urbanization, population growth, and extensive investments in public transportation infrastructure, especially in countries like China and India, contribute to the region's dominance. The increasing demand for smart transportation solutions and the modernization of transit systems fuel the adoption of Passenger Information Systems in the Asia-Pacific region.
The Middle East & Africa is anticipated to be the fastest growing region in the Passenger Information System market. Growing urbanization, ambitious smart city initiatives, and investments in transportation infrastructure in countries like the UAE and Saudi Arabia drive the demand for advanced passenger information solutions. As the region focuses on improving public transportation services, the Passenger Information System market is poised for rapid growth in the Middle East & Africa.
Global Transformer Oil Market By Region, 2024-2031
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- Fastest
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Global Passenger Information System Market Dynamics
Drivers
Increasing Demand for Enhanced Passenger Experience
- The increasing demand for enhanced passenger experience and real-time information in public transportation systems. The modernization of transit infrastructure, coupled with the rise of smart cities, further fuels the adoption of advanced PIS technologies. The integration of innovative features such as mobile applications, GPS, and cloud-based solutions addresses the evolving needs of tech-savvy commuters. Urbanization and the pressing need for efficient and reliable public transportation services globally contribute to the expansion of the Passenger Information System market.
Restraints
High Initial Installation Costs and Complexity
- One of the main market restraints is the high initial installation costs pose a significant challenge, particularly for smaller transit systems and emerging economies. Interoperability issues also hinder seamless integration of PIS across different transportation modes and platforms. Additionally, the complexity of existing transit infrastructure in some regions, coupled with a lack of standardized communication protocols, can impede the widespread adoption of Passenger Information Systems. Privacy and security concerns related to the handling of passenger data present regulatory challenges, requiring careful navigation for market players.
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Global Passenger Information System Market Competitive Landscape
The competitive environment of the passenger information system market is dynamic and characterized by the presence of key players vying for market share through strategic initiatives. Established companies in the PIS sector often focus on product innovations, technological advancements, and geographical expansions to strengthen their market position. Additionally, partnerships and collaborations with transit authorities and system integrators are common strategies to enhance product offerings and market reach. As the demand for advanced passenger information solutions continues to grow, both established players and new entrants are actively engaged in developing and deploying cutting-edge technologies to meet the evolving needs of urban transportation systems.
Top Player’s Company Profiles
- Advantech (Taiwan)
- Alstom (France)
- Wabtec (US)
- Cubic (US)
- Cisco (US)
- Siemens (Germany)
- Hitachi (Japan)
- Huawei (China)
- Thales (France)
- Teleste (Finland)
- Televic (Belgium)
- Mitsubishi Electric (Japan)
- ST Engineering (Singapore)
- DYSTEN (Poland)
- Lunetta (India)
- R2P (Germany)
- Indra (Spain)
- ICON Multimedia (Spain)
- Passio Technologies (US)
- LANCom (Slovenia)
Recent Developments
-
In January 2024, Titagarh Railway System from Kolkata and the Amber Group from Delhi NCR have formed a strategic alliance to enter the railway component and subsystem business together by a joint venture or a special purpose vehicle. Each company will invest around Rs 120 crores to own about 50% of the SPV under this investment. This SPV will establish a new facility in India to manufacture important railway parts used in making trains and metro coaches. Additionally, they will invest in Firma, Italy. Firema will give Titagarh Rail, Sidwal Refrigeration Industries, and the SPV preferred supplier status for their products.
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In February 2024, Spark Minda entered into a strategic alliance with the leading Japanese company for manufacturing of Smart Vehicle Access Systems.
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In December 2023, EHang expanded its presence in UAE with a strategic partnership and sales agreement with Wings Logistic Hub, a subsidiary of Technology Holding company, which is the technology arm of EIH Ethmar International Holding.
Global Passenger Information System Key Market Trends
Rising Shift Towards the Integration of Smart Technologies
- The pronounced shift towards the integration of smart technologies, including real-time updates, mobile applications, and artificial intelligence, enhancing the overall passenger experience. Additionally, the emphasis on eco-friendly and energy-efficient solutions within PIS reflects a broader commitment to sustainability. The growing adoption of cloud-based platforms facilitates seamless data management and accessibility. Furthermore, there is an increasing focus on multi-modal connectivity, allowing passengers to access information across various transportation modes seamlessly.
Global Passenger Information System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global passenger information system market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by a rising demand for enhanced transit experiences and smart transportation solutions, driving technological advancements. However, high installation costs and interoperability issues restrain widespread adoption. Software solutions dominate, with Information Announcement Systems leading the product types. Asia-Pacific dominates the market due to urbanization and transit infrastructure investments. Key trends include the integration of real-time technologies and sustainable, energy-efficient solutions, reflecting an evolving landscape geared towards improved passenger services and efficient public transportation systems.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 26.63 billion |
| Market size value in 2031 | USD 73.3 billion |
| Growth Rate | 11.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Passenger Information System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Passenger Information System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Passenger Information System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Passenger Information System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Passenger Information System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Passenger Information System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Passenger Information System Market Report Snapshots
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