Global Passenger Information System Market is valued approximately at USD 21.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.2% over the forecast period 2020-2026. Passenger information system is automated system that provides real time information to users of public transport via visual, voice or any other media. It acts as a communication link between a transit agency and passengers, enabling to deliver real time information of vehicle location & status updates, timely announcements and schedule of journey. The passenger information system (PIS) offers new broadcast, weather forecast display, on-demand information, emergency communication and entertainment which attracts large number of passengers across the world. The advanced technologies and development of 4G/LTE communication technologies has enhanced the demand for the display of information on cause of delay, arrival and departure and on mobile devices and smartphones. The rising smartphone penetration with enhanced connectivity, rising frequencies of passenger’s journey through public transport and growing demand for real time and reliable passenger information are the few factors responsible for growth of the market over the forecast period. For instance: Around 66% of individuals adopts smartphone in 2018, an increase from 63% in 2017 and 58% in 2016, globally, as per Zenith’s Mobile Advertising Forecasts 2017. However, high maintenance and implementation costs of PIS is the major factor restraining the growth of global Passenger Information System market during the forecast period.
The regional analysis of global Passenger Information System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world, the region is considered to be the most developed region where the network infrastructure is in sound condition leading to the rising demand for PIS solutions and services. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Advantech Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Mode of Transportation:
Airways & Waterways
By Functional Mode:
Networking and Communication Devices
Content Management System
Other Functional Models
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Passenger Information System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers