Press release
Passenger Information System Market Size 2022-2027: Growth, Analysis & Forecast
According to the latest report by IMARC Group, titled, "Passenger Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" The global passenger information system market size reached US$ 21.2 Billion in 2021. Looking forward, the market expects to reach US$ 41.6 Billion by 2027, exhibiting at a CAGR of 11.7% during 2022-2027.A passenger information system (PIS) is a communication platform between a transit agency and passengers. It is also known as a customer information system and provides real-time information to users about public transport via voice, visual or other media. PIS helps in obtaining data about schedules, entertainment, news broadcasts, and emergency communication services. In line with this, it allows passengers to get relevant information regarding the status of various transportation mediums and facilitating them to plan their journeys better.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Passenger Information System Market Trends and Drivers:
The growing demand by passengers to receive reliable and accurate real-time transit information is propelling the growth of the passenger information system market. Moreover, the increasing adoption of intelligent transportation systems along with the growing advancements in the telecommunication industry to enable faster data transfer capabilities, is also inducing the demand for the passenger information system. Additionally, the several technological advancements, such as the Internet-of-Things (IoT), cloud computing, and big data analytics, in the transportation sector are also driving the sales of passenger information systems across the globe.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Advantech Co. Ltd.
Cisco Systems Inc.
Cubic Corporation
Hitachi Ltd.
Huawei
Indra Sistemas S.A.
Infax Inc.
Mitsubishi Electric Corp.
Passio Technologies
Siemens
Teleste Oyj.
Passenger Information System Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market on the basis of Mode of Transport, Component, System Type, Location and Region.
Breakup by Mode of Transport:
Airways
Railways
Roadways
Breakup by Component:
Hardware and Software
Services
Breakup by System Type:
Multimedia Displays
Audio Systems
Computing Systems
Networking and Communication Devices
Video Surveillance Systems
Content Management System
Others
Breakup by Location:
On Board
In Station
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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