Passenger Information System Market Set to Witness Steady Growth through 2017-2025
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Previously, transportation users needed to wait in long queues to inquire about the departure and arrival time of a bus or a train. With the advent of the passenger information systems, all the information is now available online. This helps transport service providers to have competitive edge over other service providers. Moreover, passenger information system (PIS) provide several functions such as news broadcast, emergency communication, weather forecast display, on-demand information and entertainment. These features attract a higher number of passengers and help generate more revenues. Development 4G/LTE communication technologies has further enhanced the demand for the display of information on cause of delay, arrival and departure and on mobile devices and smartphones.
The main drivers for growth of global passenger information system market is due to rapid increase in demand of smartphones and better connectivity. These factors are helping in passenger’s demand for real time information and in transit connectivity. The global passenger information system market is expected to grow during the forecast period due to growing demand of providing better passenger experience by various transport providers. With the advent of smart cities, wherein information and communication technology solutions and digital devices are integrated securely to effectively manage entire city, is also expected to boost overall global passenger information system market during the forecast period.
The global passenger information system market can be categorized on the basis of products, modes of transportation, and region. In global passenger information system market, the product segment can further be classified into hardware, software and services. On the basis of hardware segment, the global passenger information system market can again be categorized into information announcement systems, multimedia display systems, networking and communication systems, sensors and others. On the basis of software segment, the global passenger information system market can be categorized into mobile applications and others. On the basis of service, the global passenger information system market can be categorized into professional services, integration services and others. On the basis of transportation, the global passenger information system market can be categorized into airways, roadways and waterways. On the basis of geography, the global passenger information system market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.
North America is the largest share of global passenger information system market and is expected to have a steady growth over the forecast period. Also among the regions in global passenger information system market Asia Pacific region and South America is expected to grow at a higher rate during the forecast period mainly due to growing population and increased per capita income.
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The major players in passenger information system market are Alstom, GE Transportation, Cisco, Hitachi, Huawei, Siemens AG, TE Connectivity, Advantech Corporation, Thales Group and Cubic Transportation Systems among others. These companies are investing a lot in their research and development (R&D) so as to incorporate new technologies in their systems and develop new products to excel in global passenger information system market.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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