According to a newmarket research report "Passenger Information System Market by Component(Solutions and Services), Location (On Board and In Station), TransportationMode (Railways (Trains and Trams), Roadways, and Airways and Waterways), andRegion - Global Forecast to 2026", published byMarketsandMarkets™, the global PassengerInformation System Market size is projected to grow fromUSD 24.1 billion in 2021 to USD 41.0 billion in 2026, at a Compound AnnualGrowth Rate (CAGR) of 11.2% during the forecast period.
The major factorsdriving the growth of the Passenger Information System (PIS) Market include therise in demand for intelligent public transportation systems, includingreal-time transit information of passengers, extensive usage of smartphones andother handheld devices with increased connectivity, increase in the usage ofadvertising and information systems, advancements in the technologicallandscape to enhance the passenger experience, and a surge in urban populationand traffic in public transportation systems..
Browse and in-depth TOC on “PassengerInformation System Market”
345 – Tables
52- Figures
325 – Pages
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200574830
Based on solutions, the mobile applications solutionssegment to grow at a higher CAGR during the forecast period
Mobileapplications are a new channel for delivering services to help passengers getthrough the whole process of their journey, starting from buying the ticket tochecking in, boarding planes, arriving at their destination, and making theirluggage available for them at the other end. Mobile applications are alsoincreasingly deployed in every mode of transportation. In airlines andairports, mobile applications act as a key medium of knowing the entire travelinformation and helps to have a more personalized service for passengers.Mobile applications can be used to offer real-time transit information topassengers. These applications make transit services more accessible andreliable for new passengers and can encourage people to use public transport
Based on location, the on board segment is expected tolead the market during the forecast period
Theon board location is projected to dominate the global PIS location market interms of market share. The exponential increase in Smartphone usage andadvancements in network infrastructure enables transport authorities to providetimely status and updates on board in a cost-effective way. These advancementsare projected to drive the demand for PIS solutions for On board locations. ThePIS on board segment is projected to account for a larger market size duringthe forecast period. On board, PIS solutions and services can be used to informpassengers about the next/previous stations or stops and provide advancedvehicle information, such as precise arrival and departure information. Onboard, PIS consists of LCD displays, a public-address system, and emergencyintercoms. LCD displays are text-only and advanced LED displays forentertainment purposes.
Based on transportation mode, the roadways transportationmode segment is expected to grow at a higher CAGR during the forecast period
Significantgrowth in the volume of vehicular traffic across the world over the last coupleof decades and the inability of existing transport infrastructure to supportthe same has led to a rise in focus on the importance of monitoring andmanaging the vehicular movement, as well as and ensuring smooth traffic flow.Smart transportation is growing in popularity, given the technology’s abilityto ease congestion and improve road safety by effective monitoring andmanagement of vehicular traffic. Buses are a primary mode of public transportin various countries, such as the US, Canada, Germany, the UK, China, India,and Australia. There are a large number of buses in the transportation sector,and PIS solutions are increasingly being adopted in buses for reliable and safeservice offerings to enhance the overall transit operations. The increase inawareness of benefits offered by PIS solutions among fleet operators is furtherprojected to drive the growth of the market. Also, the growing use of mobilityand vehicles has led to an increase in the associated demand for PIS solutionsand services in the roadways transportation mode to drive the market growth.
Request Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=200574830
North America to hold thehighest market size during the forecast period
NorthAmerica is projected to account for the largest market size among other regionsin the Passenger Information System Market, and the trend is projected tocontinue until 2026. The US and Canada are the leading countries in the regionas they witness significant advancements in terms of the development of smartcities and transportation projects. These countries have sustainable andwell-established economic growth, empowering them to increasingly invest inR&D activities, thereby contributing to the development of new technologiesin the PIS market.
NorthAmerica is one of the most developed regions where the network infrastructureis in good condition. This has led to a rise in demand for PIS solutions andservices in the market. Most of the transport sectors have implemented PISsolutions and services in the region on a large scale as the networkconnectivity is available in every corner. The advent of SMEs and the adoptionof digitization in the transportation sector, along with high-speed networks,are projected to drive the market growth in North America. In addition, 5Gcontinues to be the backbone for IoT connectivity due to its high speed and lowlatency. The improved IoT connectivity through 5G solutions is projected toimprove transportation processes in the region, which leads to the marketgrowth.
Majorvendors operating in the Passenger Information System Market include AdvantechCo., Ltd. (Advantech), Alstom (Alstom), Wabtec Corporation (Wabtec), CubicCorporation (Cubic), Cisco Systems, Inc. (Cisco), Siemens AG (Siemens),Hitachi, Ltd. (Hitachi), Huawei Technologies Co., Ltd. (Huawei), Thales Group(Thales), Teleste Corporation (Teleste), Televic Rail (Televic), MitsubishiElectric Corporation (Mitsubishi Electric), ST Engineering (ST Engineering),DYSTEN Sp. z o.o. (DYSTEN), Lunetta (Lunetta), R2P GMBH (r2p), Sistemas, S.A.(Indra), ICON Multimedia S.L. (ICON Multimedia), passiotech.com (PassioTechnologies), LANCom Systems GmbH (LANCom), Simpleway Europe a.s. (Simpleway),EKE-Electronics Ltd (EKE-Electronics), Medha Servo Drives Private Limited(Medha Servo Drives), Quester Tangent (Quester Tangent), and LOT Group (LOTGroup).
About MarketsandMarkets™
MarketsandMarkets™provides quantified B2B research on 30,000 high growth niche opportunities/threatswhich will impact 70% to 80% of worldwide companies’ revenues. Currentlyservicing 7500 customers worldwide including 80% of global Fortune 1000companies as clients. Almost 75,000 top officers across eight industriesworldwide approach MarketsandMarkets™ for their painpoints around revenuesdecisions.
Our850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global highgrowth markets following the "Growth Engagement Model – GEM". The GEMaims at proactive collaboration with the clients to identify new opportunities,identify most important customers, write "Attack, avoid and defend"strategies, identify sources of incremental revenues for both the company andits competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants(Positioning top players across leaders, emerging companies, innovators,strategic players) annually in high growth emerging segments.MarketsandMarkets™ is determined to benefit more than 10,000 companies thisyear for their revenue planning and help them take theirinnovations/disruptions early to the market by providing them research ahead ofthe curve.
MarketsandMarkets’sflagship competitive intelligence and market research platform,"Knowledgestore" connects over 200,000 markets and entire valuechains for deeper understanding of the unmet insights along with market sizingand forecasts of niche markets.
Contact:
Mr. AashishMehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/passenger-information-system.asp
Report: https://www.marketsandmarkets.com/Market-Reports/passenger-information-system-market-200574830.html
