Press release
Passenger Information System Market is expected to grow up to 21 Billion USD by 2022
Passenger Information Systems enables the passengers to get relevant information regarding the status of all kind of transportation mediums such as airplanes, trains, and buses. Strident increase in average number of vehicles is leading to traffic congestions. Therefore, public transport services that provide real information to the passengers using the passenger information system are resulting as a better option for passengers. Passenger Information System encompasses various components such as multimedia displays, networking devices, communication devices, sensors and others. Now-a-days passengers are becoming demanding and to enhance the passenger experiences, transport service providers started offering other features along with scheduling information and provide additional services for better experience.
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Regional Analysis
The competitive landscape of global Passenger Information System market is formed by major players of the market and some of the new entrants. North America leads the market for global Passenger Information System market. The technical advancements in the region, developed network architecture and high adoption rate of cloud based services are driving the market for global Passenger Information System.
The global Passenger Information System market has led by North America in 2016 by generating highest revenue of USD 2 billion and is expected to grow with 23% CAGR. Whereas, Asia-Pacific is projected to be the fastest growing region with 25% CAGR during forecast period 2016-2022.
Asia-Pacific Passenger Information System Market, by country has dominated by China in 2016. It has generated market value of USD 600 million in 2016 and is projected to grow with 25% CAGR. Followed by Japan which has generated second highest market revenue in 2016. Whereas, India is expected to grow with fastest growing 29% CAGR. However, rest of Asia-Pacific which includes countries such as South Korea, Thailand, Malaysia, Australia, Singapore and others would be expected to grow with 16% CAGR during forecast period 2016-2022.
Some of the key players in the market are Infax, Inc. (U.S.), Passio Technologies, Inc. (U.S.), General Electric Company (U.S.), Huawei Technologies Co. Ltd (China), DTI Group (Australia), Cubic Transportation Systems (U.S.), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd (India) and Neusoft Corporation (China).
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