North America Dominates Passenger Display System Market with High Adoption of Advanced Technologies

According to the report, the global passenger display system market garnered $6.77 billion in 2019, and is estimated to reach $17.41 billion by 2027, registering a CAGR of 12.4% from 2020 to 2027.

A Passenger Display System (PDS) typically refers to a system used in various transportation modes, such as airplanes, trains, buses, and ships, to provide information and entertainment to passengers during their journey. It usually includes screens or monitors strategically placed throughout the vehicle or vessel, displaying a range of content.

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The purpose of a Passenger Display System is to enhance the travel experience by providing passengers with useful information, entertainment options, and potentially revenue-generating opportunities for the transportation provider.

Rise in need of transit agencies to keep passengers informed about their journey, rapid growth in mobility, and expansion of the telecommunication industry drive the growth of the global passenger display system market. However, poor infrastructure for installing passenger display system in underdeveloped countries and high cost of deployment and management of this system hinder the market growth. On the other hand, rise in adoption of technologies, such as cloud, Internet of Things (IoT), and Big Data to enhance passenger travel experiences are anticipated to offer new opportunities in the coming years.

Based on components, the hardware segment accounted for more than two-fifths of the global passenger display system market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to increase in use of these display systems to display real-time visual information for passengers at onboard vehicles or stations. However, the services segment is estimated to portray the highest CAGR of 14.9% from 2020 to 2027. Increase in the adoption of passenger display system drives the growth of the segment.

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Based on display type, the LCD segment contributed to the highest market share with more than two-fifths of the global passenger display system market in 2019, and is estimated to maintain its leadership position during the forecast period. This is due to increase in adoption of robust, digital LCD passenger display, as it can withstand a myriad of environmental challenges. However, the LED segment is estimated to generate the fastest CAGR of 14.3% from 2020 to 2027. This is attributed to its features such as power-efficiency and higher light intensity.

Based on region, North America accounted for the highest share based on revenue, holding for nearly two-fifths of the global passenger display system market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is due to the increase in adoption of emerging technologies, presence of large enterprises, and rise in demand among organizations to automate business decision-making process to increase productivity. However, the Asia-Pacific is estimated to generate the fastest CAGR of 16.1% from 2020 to 2027. This is attributed to rise in commercial investments by several companies in the developing countries such as China and India.

North America dominates the passenger display system market, owing to the presence of technological advanced countries, high spending on advanced technologies, and presence of developed network architecture in the region. Rise in ridership in public transport in North America is one of the major growth factors that drive the growth of the market.

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In addition, the need for improving customer satisfaction throughout the journey of passengers by means of communication media is expected to boost the growth of the passenger information system market. Moreover, the government is taking initiatives to digitalize and advance the information system in the public transport sector, which is opportunistic for the market. Adoption of passenger information display systems and services on a large scale in the transport sector of the region further contributes toward the market growth, owing to strong network connectivity in the region.

Some of the key passenger display system industry players profiled in the report include Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, and Toshiba Corporation. This study includes market trends, passenger display system market analysis, and future estimations to determine the imminent investment pockets.

COVID-19 Scenario-

• The demand for the passenger display systems has been decreased during the COVID-19 outbreak due to the global restrictions on the transport sector.

• The operational disruption in electronic industry, due to COVID-19 outbreak, has impacted the passenger display system market.

• Halt in the new installations of the passenger display system due to active lockdown and social distancing has adversely affected the growth of this industry.

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