Press release
Passenger Information System (PIS) Market 2018 Analysis by General Electric, Infax, Passio Technologies, Huawei Technologies, DTI Group, Cubic Transportation Systems, Siemens AG, Advantech Corp., Neusoft
Key Findings
• Global Passenger Information System Market has generated USD 6.12 billion market value in 2016 and is projected to reach market value of USD 21.39 billion by 2022 growing with 23.17% CAGR
• By Solution: Display Systems is dominating the market and has generated USD 1.9 billion in 2016 and is expected to grow with fastest growing 22% CAGR.
• By Component: Sensors are dominating the market and has generated market value of USD 2.63 billion in 2016. Networking devices are expected to grow with fastest growing 26.48% CAGR
• By Services: Integration service is dominating the market and is projected to grow with 22.27% CAGR. Cloud services is expected to be the fastest growing service with 25.81% CAGR
• By Geography, North America is dominating the Passenger Information System Market followed by Europe. Whereas Asia-Pacific is expected to be the fastest growing region in the coming years.
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Market Scenario:
Passenger information system is an automated system designed and deployed by public transports which include roadways, airways and railways to display information related to departure and arrival of a transport vehicle, scheduled on a particular time interval. The technology advancement in transport sector drives the market of passenger information system which are available in number of forms such as LEDs, display boards, information announcement system, or passenger information mobile application. Further, the increasing concern of security at public transports and increasing urbanization is also expected to fuel the passenger information system market growth in coming years.
The security concerns at public transportation systems are increasing continuously. Effectively managing and controlling crowd in public transportation systems has become an important paradigm for the security authorities of every region. The purpose of adopting passenger information system is to avoid threatening situations in the crowded areas. So, it is fundamental to estimate the number of people traversing that area, depending on which counter plan could be decided when the limit is exceeded. Passenger information systems have wide potential applications such as in video surveillance and video analytics for railways, airports and also public transport buses. The government have rules that specify the maximum capacity of any vehicle but to know if the rule is being followed there is a need for passenger information system so that it becomes mandatory for avoidance of breaking the law. Apart from it, in any emergency incident such as hijackings, bomb threats, and assaults in any public transport, the passenger information system can quickly and accurately determine the location of vehicle in these emergencies. Thus, the increasing security concerns at public transport are driving the Passenger Information System Market.
Increasing security concern at public transportation system, and increasing urbanization coupled with increasing traffic in public transits are some of factors driving the market growth. However, high cost of components and technical limitation are some of the factors hindering the market growth during forecast period 2016-2022.
Regional Analysis
Global Passenger information system market, by region is led by North America in 2016 and has occupied 38% market share. The technological advancement and developed network architecture is expected to drive the passenger information system market in North America. Europe has successfully counted on second position in passenger information system market globally by occupying 33% market share in 2016. Asia-Pacific among all region is considered to be the fastest growing region and has occupied 21% market share in 2016 due to improvement in network infrastructure which thereby fuelling the market growth of passenger information system in the region. However, Rest of the World is growing with slow growth rate and has occupied only 8% market share in 2016.
The prominent players in the Passenger Information System Market are Infax, Inc. (U.S.), Passio Technologies, Inc. (U.S.), General Electric Company (U.S.), Huawei Technologies Co. Ltd (China), DTI Group (Australia), Cubic Transportation Systems (U.S.), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd (India) and Neusoft Corporation (China).
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Segmentation
The Global Passenger information system market has been segmented on the basis of solutions, components, services, and mode of transportation. Solutions comprises of information announcement systems, display systems, emergency communication systems, infotainment systems and passenger information mobile applications among others. Components include multimedia displays, networking devices, communication devices, sensors and others. Services are cloud, professional and integration among others. The modes of transportation are roadways, railways and airways.
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