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Passenger Journey: Passenger Information System Market Report Explores Size, Share, and Growth Strategies
Passenger Information System Market
The Business Research Company offers in-depth market insights through Passenger Information System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The passenger information system market size has grown rapidly in recent years. It will grow from $25.17 billion in 2023 to $27.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to urbanization and public transportation growth, regulatory compliance, enhanced passenger experience, increased mobility and connectivity, safety and security concerns.
The passenger information system market size is expected to see rapid growth in the next few years. It will grow to $42.62 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to personalized passenger services, predictive analytics for service optimization, cybersecurity measures, sustainability and eco-friendly transportation. Major trends in the forecast period include technological advancements in communication, augmented reality (AR) and virtual reality (VR), real-time travel information, integration with mobile devices, multimodal integration.
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Market Segmentation:
The passenger information system market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Location: On Board, In Station
3) By Transportation Mode: Railways, Roadways, Airways And Waterways
4) By Functional Mode: Multimedia Displays, Audio Systems, Computing Systems, Networking And Communication Devices, Video Surveillance, Content Management System, Other Functional Modes
Major Driver - Surge In Travelers Fuels Growth For Passenger Information Systems In Transportation
The growing number of travelers and passengers is expected to propel the growth of the passenger information system market going forward. The passenger information system provides real-time updates on the status of public transportation and other information that passengers and travelers would use to have a safer and more enjoyable commute. For instance, according to a report by the International Air Transport Association, a Canada-based trade association of the world's airlines, revenue passenger kilometers, or RPKs, which measure total traffic, increased by 76.0% and domestic traffic increased by 11.7% in March 2022 compared to March 2021. Therefore, the growing number of travelers and passengers is driving the growth of the passenger information system market.
Competitive Landscape:
Major companies operating in the passenger information system market report are Huawei Technologies Co Ltd., Hitachi Ltd., Siemens AG, Airbus SE, Cisco Systems Inc., Mitsubishi Electric Corporation, Toshiba Corporation, Thales Group, Alstom SA, Atos SE, Singapore Technologies Engineering Ltd., Wabtec Corporation, Icon Multimedia, Bombardier Inc., Indra Sistemas S.A., Advantech Co Ltd., LOT Group, Cubic Corporation, Neusoft Corporation, TOYO DENKI SEIZO K.K., Teleste Corporation, LANCom D. O. O., Secheron SA, ENABLE INTERNATIONAL LIMITED, AMiT Transportation, EKE-Electronics Ltd., Quester tangent Corp, Televic Rail, Dittolive Incorporated, Infotek Software & Systems Private Limited Stadler Rail
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Top Trend - Transforming Airport Operations And Passenger Experiences With Advanced Passenger Tracking Solutions
Major companies operating in the passenger information system market are focused on introducing advanced solutions, such as passenger tracking solutions, to gain a competitive edge in the market. Passenger tracking solutions are technologies designed to monitor the movement of passengers within an airport and respond quickly to issues. For instance, in March 2023, AeroCloud Systems, a UK-based software company, launched AeroCloud Optic. AeroCloud Optic is a passenger tracking solution that uses computer vision to intelligently, anonymously, and accurately track passengers through an airport. It provides real-time passenger flow monitoring and triggers alerts in response to operation bottlenecks, such as extended wait times at check-in or security. It optimizes airport operations, enhances the passenger experience, and maximizes revenue.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Passenger Information System Market Characteristics
3. Passenger Information System Market Trends And Strategies
4. Passenger Information System Market - Macro Economic Scenario
5. Passenger Information System Market Size And Growth
…..
27. Passenger Information System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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