Passenger Information System Market is Projected to Reach $45,679 Million By 2025 |Alstom, Hitachi, Ltd., Indra,

According to a recent report published by Allied Market Research, the global passenger information system market was valued at $13,703 million in 2016, and is projected to reach at $45,679 million by 2025, growing at a CAGR of 14.60% from 2018 to 2025.

The competitive landscape and a strong vendor ecosystem play a crucial role in driving innovation and progress in the Passenger Information System Market. The active competition among technology providers encourages a constant drive for improvements, pushing the development of more advanced and cost-efficient solutions. In this environment, companies aim to outdo one another by introducing state-of-the-art features, enhancing system compatibility, and boosting overall performance.

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The competition to meet and surpass market needs leads to the rapid integration of emerging technologies such as artificial intelligence, IoT, and data analytics into passenger information systems. As vendors compete for market dominance, customers benefit from a wide array of choices, resulting in an accelerated pace of innovation and an expanded range of options. These competitive dynamics within the Passenger Information System Market fuel ongoing enhancements, ensuring the sector remains at the forefront of technological progress and supports sustained market expansion.

Rise in demand for real-time transit information solutions for the passengers, increased adoption of smartphones, increased penetration of IoT solutions in transportation sector, and advancements in telecommunication offerings are anticipated to drive the growth of the global passenger information system market. In addition, surge in adoption of cloud and big data technologies is expected to create lucrative opportunities for the growth of the market. However, high cost 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 are anticipated to hamper the market growth during the forecast period.

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Based on mode of transportation segment, 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 of passenger information system to provide accurate and reliable updates to railway passengers before and throughout their journey.

The global passenger information system market was led by the 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.

An essential aspect to consider is the increasing demand for managed services within the transportation sector. These services involve experts handling maintenance, updates, and security tasks, allowing transportation authorities and companies to concentrate on their primary operations while reducing initial costs and complexities. Additionally, the rising intricacy of Passenger Information System (PIS) solutions, which include real-time data integration, multi-modal information delivery, and AI-driven analytics, necessitates specialized skills in areas such as system integration, configuration, and data analysis. This demand creates a robust market for various services such as consulting, maintenance, and support.

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Moreover, the growing emphasis on improving passenger experience is fueling the need for personalized information delivery and enhanced convenience. This trend is driving the requirement for services like passenger support and data analysis to customize information delivery based on individual preferences. The transition towards subscription-based models for PIS solutions is also advantageous for the services segment, as it generates recurring revenue streams for providers, enables ongoing enhancements, and innovation, thereby attracting more customers.

Lastly, the integration of emerging technologies such as the Internet of Things (IoT), big data, and AI necessitates specialized expertise for successful implementation and maintenance. Service providers excel in offering these capabilities, making them valuable partners for PIS deployments. In a competitive marketplace, providing comprehensive services alongside solutions becomes imperative for setting oneself apart. Services like consulting, maintenance, and support enable providers to move beyond mere product sales and establish enduring partnerships with their clients.

Some of the key players operating in the passenger information system market include Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, and Toshiba Corporation.

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