openPR Logo
Press release

Passenger Information System Market will reach to $41.0 billion by 2026

06-01-2021 02:38 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Passenger Information System Market

Passenger Information System Market

According to a new market research report "Passenger Information System Market by Component (Solutions and Services), Location (On Board and In Station), Transportation Mode (Railways (Trains and Trams), Roadways, and Airways and Waterways), and Region - Global Forecast to 2026" published by MarketsandMarkets™, the market size projected to grow from USD 24.1 billion in 2021 to USD 41.0 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. The major factors driving the growth of the Passenger Information System (PIS) market include the rise in demand for intelligent public transportation systems, including real-time transit information of passengers, extensive usage of smartphones and other handheld devices with increased connectivity, increase in the usage of advertising and information systems, advancements in the technological landscape to enhance the passenger experience, and a surge in urban population and traffic in public transportation systems.

Browse in-depth TOC on "Passenger Information System Market”
345- Tables
52- Figures
325- Pages

Browse Full Report @ https://www.marketsandmarkets.com/Market-Reports/passenger-information-system-market-200574830.html

Based on solutions, the mobile applications solutions segment to grow at a higher CAGR during the forecast period

Mobile applications are a new channel for delivering services to help passengers get through the whole process of their journey, starting from buying the ticket to checking in, boarding planes, arriving at their destination, and making their luggage available for them at the other end. Mobile applications are also increasingly deployed in every mode of transportation. In airlines and airports, mobile applications act as a key medium of knowing the entire travel information and helps to have a more personalized service for passengers. Mobile applications can be used to offer real-time transit information to passengers. These applications make transit services more accessible and reliable for new passengers and can encourage people to use public transport

Based on location, the on board segment is expected to lead the market during the forecast period

The on board location is projected to dominate the global PIS location market in terms of market share. The exponential increase in smartphone usage and advancements in network infrastructure enables transport authorities to provide timely status and updates on board in a cost-effective way. These advancements are projected to drive the demand for PIS solutions for On board locations. The PIS on board segment is projected to account for a larger market size during the forecast period. On board, PIS solutions and services can be used to inform passengers about the next/previous stations or stops and provide advanced vehicle information, such as precise arrival and departure information. On board, PIS consists of LCD displays, a public-address system, and emergency intercoms. LCD displays are text-only and advanced LED displays for entertainment purposes.

Based on transportation mode, the roadways transportation mode segment is expected to grow at a higher CAGR during the forecast period

Significant growth in the volume of vehicular traffic across the world over the last couple of decades and the inability of existing transport infrastructure to support the same has led to a rise in focus on the importance of monitoring and managing the vehicular movement, as well as and ensuring smooth traffic flow. Smart transportation is growing in popularity, given the technology’s ability to ease congestion and improve road safety by effective monitoring and management of vehicular traffic. Buses are a primary mode of public transport in various countries, such as the US, Canada, Germany, the UK, China, India, and Australia. There are a large number of buses in the transportation sector, and PIS solutions are increasingly being adopted in buses for reliable and safe service offerings to enhance the overall transit operations. The increase in awareness of benefits offered by PIS solutions among fleet operators is further projected to drive the growth of the market. Also, the growing use of mobility and vehicles has led to an increase in the associated demand for PIS solutions and services in the roadways transportation mode to drive the market growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200574830

North America to hold the highest market size during the forecast period

North America is projected to account for the largest market size among other regions in the PIS market, and the trend is projected to continue until 2026. The US and Canada are the leading countries in the region as they witness significant advancements in terms of the development of smart cities and transportation projects. These countries have sustainable and well-established economic growth, empowering them to increasingly invest in R&D activities, thereby contributing to the development of new technologies in the PIS market.

North America is one of the most developed regions where the network infrastructure is in good condition. This has led to a rise in demand for PIS solutions and services in the market. Most of the transport sectors have implemented PIS solutions and services in the region on a large scale as the network connectivity is available in every corner. The advent of SMEs and the adoption of digitization in the transportation sector, along with high-speed networks, are projected to drive the market growth in North America. In addition, 5G continues to be the backbone for IoT connectivity due to its high speed and low latency. The improved IoT connectivity through 5G solutions is projected to improve transportation processes in the region, which leads to the market growth.

Major vendors operating in the Passenger Information System (PIS) vendors include Advantech (Taiwan), Alstom (France), Wabtec (US), Cubic (US), Cisco (US), Siemens (Germany), Hitachi (Japan), Huawei (Japan), Thales (France), Teleste (Finland), Televic Rail (Belgium), Mitsubishi Electric (Japan), ST Engineering (Singapore), DYSTEN (Poland), Lunetta (India), r2p (Germany), Indra (Spain), ICON Multimedia (Spain), Passio Technologies (US), LANCom (Slovenia), Simpleway (Czech Republic), EKE-Electronics (Finland), Medha Servo Drives (India), Quester Tangent (Canada), and LOT Group (Ukraine).

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=200574830

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/passenger-information-system.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Passenger Information System Market will reach to $41.0 billion by 2026 here

News-ID: 2295592 • Views:

More Releases from MarketsandMarkets™

Feed Premix Market, Global Industry Size Forecast
The global feed premix market size is estimated to be valued at USD 24.3 billion in 2021 and is projected to reach a value of USD 32.9 billion by 2026, growing at a CAGR of 6.2% during the forecast period. The growth of this market is attributed to increasing awareness about feed quality, and the implementation of innovative animal husbandry practices to improve meat quality are the important drivers for
Water-soluble Fertilizers Market is Expected to Grow $23.9 billion in 2028
According to a research report "Water-soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, and Potassic), Mode of Application (Foliar and Fertigation), Form (Dry and Liquid), Crop Type (Field Crop, Horticulture Crops, Turf & ornaments) and Region - Global Forecast to 2028" published by MarketsandMarkets, the water-soluble fertilizers market is estimated at USD 18.3 billion in 2023 and is projected to reach USD 23.9 billion in 2028, at a CAGR of 5.5%.
Population Health Management (PHM) Market worth $53.3 billion by 2027 - Leading Key Players are Cerner Corporation (US), Epic Systems Corporation (US), Koninklijke Philips (Netherlands)
Population Health Management (PHM) Market worth $53.3 billion by 2027 - Leading …
Population Health Management (PHM) Market is projected to grow from USD 27.8 billion in 2022 to USD 53.3 billion by 2027, at a CAGR of 13.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. The Growth in this market is driven by the opportunities offered by the emerging markets in healthcare. However, lack of data management, and interoperability issues are expected to challenge the growth of this
Veterinary Pain Management Market worth $2.5 billion - Leading Key Players are Boehringer Ingelheim International GmbH (Germany), Zoetis Inc. (US), Elanco Animal Health Incorporated (US), Merck & Co., Inc. (US)
Veterinary Pain Management Market worth $2.5 billion - Leading Key Players are B …
Veterinary Pain Management Market is projected to grow from USD 1.8 billion in 2022 to USD 2.5 billion by 2027, at a CAGR of 6.7% from 2022 to 2027, according to a new report by MarketsandMarkets™. The Pain is the physiological term to describe the chemical processes that are at work in the body that receive a stimulus, modify it, and transfer it to the brain for interpretation and reaction.

All 5 Releases


More Releases for PIS

Global Industrial Ethernet Switch in PIS Market Research Report 2021-2026 | Cisc …
(United States, OR Poland): Big Market Research, titled Global Industrial Ethernet Switch in PIS Market 2021 by Company, Regions, Type and Application, Forecast to 2026 covers several well-known organizations, key market players who are leading in the market. The report contains a thorough summary of Industrial Ethernet Switch in PIS Market that includes several well-known organizations, key market players who are leading in terms of sales, variable market change, revenue,
Global Passenger Information System (PIS) Market Analysis by Size, Share, Top Ke …
Passenger information system (PIS) is the communication link between passengers and transit agency. It enables to provide information related to real time vehicle location, and status updates, timely announcements, and schedule of journey. PIS focus on improvements of the transit experience for passengers by entertaining the passengers through infotainment system. Increase in demand for consistent, real time and reliable passenger information is the key driving factor which is expected to
Global Passenger Information System (PIS) Market Trends, Size, Competitive Analy …
The global market for PIS is projected to have considerable CAGR during the forecast period. The market growth is mainly driven due to growing demand of real time passenger information, increasing penetration of smartphone across the globe. Moreover, the growing service offerings by the travel providers to the passengers further supported the growth of PIS market. The other primary factor that is responsible for market growth is the advancements in
Passenger Information System (PIS) Market Growth, Size, Share and Forecast 2019- …
The global market for PIS is projected to have considerable CAGR during the forecast period. The market growth is mainly driven due to growing demand of real time passenger information, increasing penetration of smartphone across the globe. Moreover, the growing service offerings by the travel providers to the passengers further supported the growth of PIS market. The other primary factor that is responsible for market growth is the advancements in
Patient Information System (PIS) Market Trends, Size, Forecast - 2019-2025
The global market for PIS is projected to have considerable CAGR during the forecast period. The market growth is mainly driven due to growing demand of real time passenger information, increasing penetration of smartphone across the globe. Moreover, the growing service offerings by the travel providers to the passengers further supported the growth of PIS market. The other primary factor that is responsible for market growth is the advancements in
Global Onboard Passenger Information System (PIS) Sales and Forecast by (2015-20 …
The research report published by GLOBAL INFO RESEARCH?is a comprehensive study of the global Onboard Passenger Information System (PIS)?market. The subject matter experts and team of highly-skilled researchers have put in hours of work to collate an authentic research report on the global Onboard Passenger Information System (PIS)?market. Analysts have studied the various products in the market and offered an unbiased opinion about the factors that likely to drive the