Automated Passenger Information System Market 2024: Industry Outlook, Key Drivers, and Global Expansion Forecast"

"The Business Research Company recently released a comprehensive report on the Global Automated Passenger Information System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The automated passenger information system market size has grown rapidly in recent years. It will grow from $10.18 billion in 2023 to $12.02 billion in 2024 at a compound annual growth rate (CAGR) of 18.%. The growth in the historic period can be attributed to government regulations and initiatives, passenger numbers, special events, regulatory changes, past passenger data.

The automated passenger information system market size is expected to see rapid growth in the next few years. It will grow to $21.6 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to growing populations in cities, demand for public transportation systems, demand for reliable and convenient information systems, public transportation networks. Major trends in the forecast period include integration of real-time data, enhanced personalization, multimodal connectivity, predictive analytics, smart infrastructure integration.

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Market Drivers and Trends:

Rising demand for public transport is expected to propel the growth of the automated passenger information system market going forward. Public transport refers to the organized transportation system made available for use by the general public, typically managed on a scheduled basis and operating on established routes. With urban expansion, the demand for effective transportation systems increases to facilitate the movement of a large population within cities. Automated passenger information systems are utilized in various modes of public transport to enhance efficiency and provide real-time information to passengers. For instance, in December 2023, according to the National Statistics Institute (Instituto Nacional de Estadística), a Spain-based government agency providing demography and economy statistics, in 2023, the number of public transport passengers increased by 12.1% compared to 2022. The annual growth rates for urban and inter-city transit stood at 15.4% and 10.1%, respectively. Therefore, rising demand for public transport is driving the automated passenger information system market.

Major companies operating in the automated passenger information system market are focused on developing innovative products, such as digital passenger information systems, to strengthen their position in the market. This advanced technology provides customized solutions for various traffic and transportation aspects, such as real-time and static information about their journeys. For instance, in January 2022, Wiener Linien, an Austrian-based public transit service provider, launched an innovative digital passenger information system for the new X-car metro trains. This system provides dynamic visual information to passengers, making their travel experience more convenient and efficient. This advanced passenger information system aims to enhance the overall passenger experience by providing real-time information when needed. Siemens Mobility and Wiener Linien collaborated to create the passenger info plus system for Vienna's public transport. It features screens inside X-cars displaying real-time information, including exit directions, transfer options, and the current train location. This system also ensures passengers receive timely updates on metro network status and other relevant information.

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Major Key Players of the Market:

Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, Cisco Systems Inc., Mitsubishi Electric Corporation, Thales Group, ALSTOM Holdings, GE Transportation, Indra Sistemas S.A., Advantech Co. Ltd., Cubic Corporation, Teleste Oy, Eurotech SpA, Postec Technology, Clever Devices Ltd., Trapeze Group, Infodev Electronic Designers International, Quester Tangent Corporation, DILAX Intelcom GmbH, Iris-GmbH, EKE-Electronics Ltd., GMV Syncromatics, ICON Multimedia SL, Retail Sensing Ltd., Efftronics Systems Pvt. Ltd., Urban Transportation Associates, LOT Group, Lunetta, Medha Servo Drives Private Limited, Passio Technologies Inc., r2p GmbH

Automated Passenger Information System Market 2024 Key Insights:

• The automated passenger information system market is expected to grow to $21.6 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%.
• Rising Demand For Public Transport Growth In Automated Passenger Information System
• Technological Improvements In Automated Passenger Information System
• North America was the largest region in the automated 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 automated passenger information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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