Passenger Information Systems Market to Significant Growth Foreseen by 2025
Passenger information systems, referring to tools and applications commonly used to track details regarding booking, arrival, and departure of a variety of transportation mediums, are increasingly being considered a means of achieving sustainable urban transport by municipal bodies. The ever-expanding scope of urban transportation and the consequent need for adopting fleet optimization and smart telematic solutions are leveraging the scope of digital interventions in transport systems. In the near future, as the transport industry becomes digitally more mature, passenger information systems will emerge as a central medium of connecting travelers with the central information system of transportation mediums.
The rising use of mobile devices such as smartphones and digital interfaces to stay updated on travel-related information is a key factor expected to drive the increased demand for effective passenger information systems across the globe. Advancements in the telecommunications industry and the rising expanse of internet connectivity will also allow the consumer to use passenger information systems to fetch useful information transportation-related information.
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The worldwide trend towards smart cities, wherein digital devices and information and communication technology solutions are integrated in a secure manner to effectively manage a city’s assets, is also expected to be a key driver of passenger information systems in the next few years. The rising implementation of connected transportation, especially in emerging economies with burgeoning urban populace, will allow the increased use of data communication tools such as passenger information systems. This report presents a thorough overview of the present state of development of the global passenger information system market.
Passenger Information Systems: Overview
A passenger information system provides real-time information to the passengers. It is an electronic information system which includes both predictions about arrival and departure time of travel means. In addition, it provides information about the nature and causes of interruptions. A passenger information system can be used physically within a transportation means and remotely with the use of web browsers or a mobile device.
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Previously, passengers needed to get in endless queues to inquire about the arrival and departure time of a train or a bus. Thanks to the passenger information systems, all the information can be now acquired online. Passenger information systems provide in-transit connectivity to the passengers and real-time information. This offers transport service providers an edge over other service providers. Moreover, passenger information system and solutions offer several features such as weather forecast display, news broadcast, emergency communication, on-demand information and entertainment. These features attract a higher number of passengers and help generate more revenues. Development of 3G and 4G LTE communication technologies has stimulated the demand for the display of information on arrival, departure and cause of delay on smartphones and mobiles. It has also opened new avenues for mobile application developers.
Passenger Information Systems: Trends and Prospects
Digitalization has increased the demand for the global passenger information systems market. The number of smartphone users has gone up over the years. With improvements in data connectivity in terms of quality as well as costs, the prospects of a better market and stronger competition in the near future can be predicted. Another reason and a crucial factor for the growth of the market is the steep rise in urbanization, coupled with an increase in number of public transport facilities. Due to better public transport systems, a large volume of passengers are now opting to travel with public transport. Also, the hassle of parking and rising fuel prices are pushing a greater number of daily commuters to opt for public transport. As a result, in-transit connectivity and passenger information services are now attracting transport companies to up their game and increase their customer flow.
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Passenger Information Systems: Key Segments
The passenger information system market is segmented on the basis of systems, mobile applications, components, modes of transportation, and services. Systems include information announcement systems, display systems, emergency communication systems, and infotainment systems. Components include multimedia displays, networking devices, communication devices, routers, and sensors. Services include integration, cloud, and professional. Modes of transportation include railways, roadways, and airways.
Geographically, the market for passenger information system can be segmented into North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. A large percentage of the global passenger information systems market is held by North America and is projected to lead the market in the years to come. With high population and increased per capita income, Asia Pacific and Latin America will soon be registering a high growth rate.
Passenger Information Systems: Key Market Players
The key players in the passenger information systems include Alstom, Huawei, GE Transportation, and Cubic Transportation Systems.
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