Passenger Information System Market Analysis By Component (Hardware, Software, Service), By Solution (Passenger Information Display System, Announcement System, Infotainment System, Passenger Information Mobile Applications, Emergency Communication Systems) & Forecast 2024-2035
- PUBLISHED ON
- 24/03/2023
- NO OF PAGES
- 281
- CATEGORY
- Information Technology
The global Passenger Information System Market was valued at USD valued at USD 20.70 Billion in 2022, and is expected to hit at USD 50.69 billion by 2032 at a CAGR of 22.0% from 2022 to 2032. Passenger Information System (PIS) refers to an automated system that provides passengers with real-time information about their travel journey. The PIS comprises various hardware and software components, including displays, audio announcements, mobile applications, and backend management software. The system displays real-time information about schedules, delays, route changes, and other relevant details that allow passengers to plan their journeys accordingly. PIS helps to improve the overall passenger experience and enhances the operational efficiency of transportation systems.
One of the primary advantages of PIS is that it reduces passenger anxiety and stress by providing them with accurate and up-to-date information. With real-time data, passengers can plan their journeys better, avoid delays, and optimize their travel time. Additionally, PIS enhances operational efficiency by streamlining communication between different departments, improving the accuracy of data, and automating several routine tasks. This helps to reduce errors and delays, leading to better resource utilization and improved service delivery.
PIS has a wide range of uses across various transportation modes, including railways, airports, subways, buses, and taxis. The system can be customized to cater to the specific needs of different transportation modes and can provide information in multiple languages and formats, including audio, video, and text. PIS can also be integrated with other transportation systems, such as ticketing and fare collection systems, to provide a seamless passenger experience.
The adoption of PIS is on the rise due to the increasing demand for improved passenger experience and operational efficiency in transportation systems. The growing use of smartphones and other mobile devices has further fuelled the demand for real-time information, which has led to the development of mobile-based PIS applications. The emergence of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and Big Data has also led to the development of more sophisticated PIS solutions that can provide personalized and context-specific information to passengers.
Rising demand for real-time travel information is driving the growth of the passenger information system market.
The passenger information system market is being driven by various factors such as the increasing demand for real-time transit information, rising investments in smart city projects, and the growing adoption of smartphones and other mobile devices. Passenger information systems provide real-time information about the status and location of public transportation services such as buses, trains, and subways, allowing commuters to make informed decisions about their travel plans. This helps to reduce waiting times, improve overall passenger experience, and increase public transit usage. Furthermore, governments around the world are investing in smart city projects aimed at improving the efficiency of public transportation systems. These projects involve the deployment of advanced technologies, including passenger information systems, to enhance the overall quality of public transportation services. This is expected to drive the growth of the passenger information system market over the coming years. The increasing adoption of smartphones and other mobile devices has also had a significant impact on the passenger information system market. With the widespread availability of mobile internet access, commuters can now access real-time transit information from their mobile devices, eliminating the need for physical displays or other dedicated hardware.
Segmentation:
By Component
• Hardware
• Software
• Service
By Solution
• Passenger Information Display System
• Announcement System
• Infotainment System
• Passenger Information Mobile Applications
• Emergency Communication Systems
Geography:
North America dominated the Passenger Information System market, followed by Europe and Asia Pacific. The dominance of North America in this market is attributed to the high adoption of digital technologies, advanced infrastructure, and government initiatives to modernize transportation systems. Furthermore, the presence of key players in the region also contributes to the growth of the market in North America.
Impact of COVID-19 on the global Passenger Information System Market:
The COVID-19 pandemic has had a significant impact on the global passenger information system market. With the imposition of lockdowns and restrictions on travel, the demand for passenger information systems has decreased. The closure of airports, railway stations, and bus terminals has also contributed to the decline in the market. The COVID-19 pandemic has forced governments and transportation authorities to implement new regulations and guidelines for safe travel. This has resulted in the adoption of new technologies and solutions to ensure passenger safety and prevent the spread of the virus. For example, some passenger information systems now provide real-time information on the number of passengers in a particular vehicle or station, allowing for better crowd management and social distancing.
Overall, the pandemic has created both challenges and opportunities for the passenger information system market. While the initial impact was negative, the adoption of new technologies and solutions in response to the pandemic is expected to drive growth in the long run.
Impact of the Russia-Ukraine War on the global Passenger Information System Market:
The impact of the Russia-Ukraine war on the Passenger Information System (PIS) market in Europe is difficult to measure directly, as the conflict is a complex geopolitical issue with wide-ranging implications. However, the overall economic impact of the war on the region, including its effects on trade, investment, and business confidence, may have indirect effects on the PIS market. The war has led to economic sanctions and political instability in the region, which have had a dampening effect on business activity. Companies may be more cautious about investing in new technology projects, including PIS, in such an uncertain environment. Additionally, disruptions to trade flows and supply chains could make it more difficult for PIS providers to deliver their solutions to customers in the region.
Furthermore, the war has had a significant impact on transportation infrastructure, including railways and airports, in some parts of the region. This could impact the deployment and adoption of PIS, as transportation operators may need to divert resources towards repairing or maintaining damaged infrastructure instead of investing in new technology. However, it is important to note that the impact of the war on the PIS market is likely to be highly localized and dependent on specific circumstances in each affected region. For example, areas directly affected by the conflict may have more pressing infrastructure and safety concerns than PIS deployment, while other regions may see increased demand for PIS as travelers seek out alternative transportation options.
Company Profiles:
• Alstom SA
• Cubic Corporation
• Hitachi, Ltd.
• Indra Sistemas SA
• Mitsubishi Electric Corporation
• Siemens AG
• Singapore Technologies Electronics Limited
• TE Connectivity Ltd.
• Thales Group
• Toshiba Corporation
• Wabtec Corporation
• Global Infotech Co., Ltd.
• Passio Technologies
• Simpleway a.s.
• Xorail Inc.
Historic Year: 2016-2022
Forecast: 2024-2035
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