Blog Information
- Posted By : Marcel Mikaelson
- Posted On : Jun 13, 2023
- Views : 67
- Category : Technology
- Description : The global passenger information system market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.51% during 2023-2028.
- Location : United States
Overview
IMARC Group, a leading market research company, has recently releases report titled, “Passenger Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global passenger information system market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the passenger information system market?
Report Attributes Details Market Size in 2022 US$ 23.8 Billion Market Forecast in 2028 US$ 46.0 Billion Growth rate (2023 to 2028) CAGR of 11.51% Base Year of the Analysis 2022 Forecast Period 2023-2028 What is passenger information system?
Passenger information systems (PIS) are digital information systems that enable real-time monitoring, tracking, and efficient management of passenger data. They play a crucial role in predicting arrival and departure times, analyzing delays and disruptions, and providing valuable information to passengers. PIS helps passengers gauge the punctuality and regularity of public transportation, enhancing their satisfaction by providing route and destination details. Additionally, it offers information about covered stations, emergency contact numbers, onboard services, as well as previous and upcoming stations. By reducing complaints, ensuring high reliability, and enhancing travel comfort, PIS finds extensive application in various modes of transportation worldwide, including airways, railways, and roadways.
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What are the growth prospects and trends in the passenger information system industry?
The market for intelligent public transportation systems is experiencing significant growth, driven by the increasing demand for real-time transit information among the general public. This demand is met by systems that provide up-to-date information to passengers, enhancing their travel experience. Furthermore, the transportation sector is witnessing the adoption of advanced technologies such as the internet of things (IoT), cloud computing, and big data solutions, which are further contributing to the positive market outlook. Additionally, advancements in the telecommunication industry, facilitating fast data transfer, are playing a crucial role in driving market growth. The rising popularity of mobile application-based passenger information systems, fueled by the widespread use of smartphones globally, is also bolstering market expansion.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Mode of Transport:
- Airways
- Railways
- Roadways
Breakup by Component:
- Hardware and Software
- Services
Breakup by System Type:
- Multimedia Displays
- Audio Systems
- Computing Systems
- Networking and Communication Devices
- Video Surveillance Systems
- Content Management System
- Others
Breakup by Location:
- On Board
- In Station
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Advantech Co. Ltd.
- Cisco Systems Inc.
- Cubic Corporation
- Hitachi Ltd.
- Huawei
- Indra Sistemas S.A.
- Infax Inc.
- Mitsubishi Electric Corp.
- Passio Technologies
- Siemens
- Teleste Oyj.
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