PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1225693
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1225693
The passenger information systems market is anticipated to increase at a CAGR of 21.84% over the course of the forecast period, from US$7.522 billion in 2020 to a total market value of US$29.99 billion by 2027.
The communication channel between a transit agency and its customers is the passenger information system. It makes it possible to transmit information about the schedule of travel, timely announcements, and real-time vehicle position and status updates. Along with these features, it emphasizes improving the travel experience for users by keeping them entertained with infotainment systems. Additionally, these devices can be installed inside a bus, train, or airplane as well as on a platform. The market for passenger information systems is expanding as there is an increase in demand for transit agencies to provide passengers with accurate and trustworthy real-time transit information.
However, these cutting-edge passenger information systems cannot be connected because to the inadequate infrastructure in many areas. Additionally, the expansion of these systems' markets in some areas is being constrained by their high implementation and management cost.
Increasing Adoption of smartphones to drive the market growth
The primary drivers behind the market's expansion include the development of quicker data transfer capabilities in the telecommunications industry, the rapid acceptance of loT in the transportation sector, and the rise in demand for intelligent transportation systems. Through a mobile applications, passengers as smartphone use increases, information systems are gaining ground quickly. Transit authorities also emphasize PIS mobile applications to draw customers and give them access to quick, accurate real-time information via smartphone channels. The development of multi-modal transit apps for public transportation is also advantageous for the market's expansion.
Increasing the use of cloud and big data technologies to boost the market growth
The automation of various forms of transportation, particularly railroads, is facilitated by the use of cloud computing. The bus position is tracked by the passenger information system using cloud computing technology and will be presented on the real-time information system at the bus stop. The cost-effective monitoring of the passenger population and high-efficiency resource allocation is made possible by cloud technology and data analytics tools. Governments are investing a significant amount of money in upgrading the transportation system. Market participants are also heavily investing in R&D to create cutting-edge passenger information systems that can be linked to already-existing infrastructures of varying sizes. These solutions are being more widely used, which is fueling market expansion in numerous locations throughout the world.
Market Developments:
Product Offerings:
Market Segmentation:
Display System
Monitoring System
Computing System
Communication Infrastructure
Others
Airways
Railways
Roadways
North America
§ USA
§ Mexico
§ Canada
South America
§ Brazil
§ Argentina
§ Others
Europe
§ Germany
§ France
§ United Kingdom
§ Italy
§ Others
Middle East and Africa
§ Saudi Arabia
§ UAE
§ Others
Asia Pacific
§ India
§ China
§ Japan
§ South Korea
§ Taiwan
§ Thailand
§ Indonesia
§ Others
Not an exhaustive list