Passenger Information System Market 2020: Strong Growth Continues with New Products to Continue beyond 2026

The rise in demand for real-time transit information solutions for the passengers increased adoption of smartphones, increased penetration of IoT solutions in the transportation sector, and advancements in telecommunication offerings are anticipated to drive the growth of the global passenger information system market. The global passenger information system market was valued at $13,703 million in 2016 and is projected to reach $45,679 million by 2025, growing at a CAGR of 14.60% from 2018 to 2025.

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A surge in the adoption of cloud and big data technologies is expected to create lucrative opportunities for the growth of the market. However, high costs associated with implementation, managing the passenger information and dearth of advanced infrastructure facilities among the developing economies of Asia-Pacific and LAMEA for installing these systems is anticipated to hamper the market growth during the forecast period.

The roadway segment led the passenger information system market in 2016 and is projected to maintain its dominance in the future. However, the railway segment is expected to witness the highest growth, owing to its increased need for passenger information systems to provide accurate and reliable updates to railway passengers before and throughout their journey.

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The global passenger information system market was led by North America in 2016 and is projected to maintain its dominance during the forecast period. However, the Asia-Pacific is anticipated to witness the fastest growth, registering a CAGR of 20.20% during the forecast period.

Some of the key players operating in the passenger information system market include,

o Alstom
o Cubic Corporation
o Hitachi Ltd.
o Indra
o Mitsubishi Electric Corporation
o Siemens AG
o Singapore Technologies Electronics Limited
o Teleste Corporation
o Thales
o Toshiba Corporation.

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Key questions answered in the Passenger Information System Market research study:

o What is the market growth rate of Passenger Information System Market from 2019-2026?

o What will be the global market size of the market from 2019 to 2026?

o Who are the leading global players in the Passenger Information System Market?

o What are the current trends and predicted trends?

o What are the challenges faced in the Passenger Information System Market?

o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

o Which will be the anticipated growth rates for your own Passenger Information System Market economy altogether and also for every segment inside?

o Which will be the Passenger Information System Market application and types and forecast accompanied closely by producers?

o What are the conclusions of the Passenger Information System Market report?

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