Global Passenger Display System Market Expected to Grow with CAGR 10.6% and Study covers Industry Size, Share, Analysis and Forecast to 2027

According to market research study published, the global passenger display system market is predicted to be growing at a CAGR of over 10.6% from 2021 to 2027.

A passenger information system is an electronic display that displays information about a bus or train journey to a user. Such systems can be used for municipal public transportation as well as for individual stops. For example, a dynamic passenger information board can display the arrival time of the next bus or train. Text-to-speech buttons can be used to read details of a timetable. The use of these systems is expected to increase the safety and efficiency of the transport network. Depending on the size of the system, users may want to start with simple features such as automatic vehicle location or computer-aided dispatch. They can also choose to include audio announcements or text-to-speech functionality for users who have difficulty reading. A passenger information system can even be integrated with a hearing loop system and beacons. Real-time information about running times can also help passengers arrive at their destination at the right time.

The global passenger display system market focuses on six regions, such as North America, Asia Pacific, South America, Europe, the Middle East, and Africa.

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Competitive Section:

The report explores the recent developments and profiles of key vendors in the Global Passenger Display System Market, including Alstom S.A., Hitachi, Ltd., Mitsubishi Electric Corporation, Siemens AG, Thales Group, Toshiba Corporation, among others.

Drivers:

The increasing prevalence of commercial cars in the world is expected to fuel the growth of the global passenger display system market over the forecast period. For instance, according to Worldometers, in 2018, there were around 1 billion passenger cars in the world. With a passenger information system, a train's passengers can plan their routes and avoid traffic congestion by knowing how long they'll have to wait. If the train is running late, they can plan their travel elsewhere or do something else to avoid waiting for it. By knowing how long the delay will be, they can be more active. This is also good for the environment. Increasing service launches by key layers in the market is estimated to enhance the growth of the global passenger display system market.

By component:
- hardware
- services
- software

By display type:
- light-emitting diode (LED) display
- liquid-crystal display (LCD)
- others

By mode of transportation:
- airways
- railways
- roadways
- others

Restraints:

The high cost of passenger safety systems is expected to hinder the growth of the global passenger display system market.

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Regional Insights:

North America is expected to dominate the growth of the global passenger display system market, owing to the increasing sales of vehicles in the region. For instance, according to American Automobile Association, in 2019, there were around 276 million registered vehicles and 229 million licensed drivers in the U.S.

The Asia Pacific is estimated to witness significant growth in the global passenger display system market owing to the increasing production and sales of passenger vehicles in the region. Moreover, high investments in the automotive sector are assessed to propel the growth of the market
.

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This release was published on openPR.