Passenger Information System Market Report 2024: Key Insights and Future Outlook

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Passenger Information System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $42.62 billion In 2028 At A CAGR Of 11.3% :

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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Passenger Information System Market Major 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 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.

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Prominent Trend - 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.

Passenger Information System Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the passenger information system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the passenger information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Passenger Information System Market Report Structure
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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