Passenger Information System Market 2024-2033: Competitor Assessment, Industry Size And Major Players

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.

Market Overview -
The passenger information system is an automated system used in public transport terminals to analyze delays and disturbances and anticipate arrival and departure timings. Passenger information systems are crucial to improving customer satisfaction, reducing complaints, increasing service usage, and improving planning.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=7562&type=smp

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

Cutting-Edge Digital Passenger Information And Guidance System For Enhanced Travel Experiences
Major companies operating in the passenger information system market are focused on introducing advanced solutions, such as digital systems, to gain a competitive edge in the market. Digital systems are complex hardware circuits that store, process, and communicate information in digital form, using discrete symbols such as binary digits (bits) to represent information. For instance, in January 2022, Wiener Linien, an Austria-based company that provides passenger transportation services, launched a digital passenger information and guidance system. The digital passenger information and guidance system is a device that provides dynamic visual information to enhance the passenger experience, ensuring easy and convenient use of the trains. It provides information-rich content and is strategically positioned above each door. It helps to improve the overall travel experience for passengers.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/passenger-information-system-global-market-report

Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
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 specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.