Global Passenger Information System Market, By Solution (Information Announcement Systems, Display Systems), By Components (Multimedia Displays, Networking Devices, Sensors) By Services (Cloud, Professional, Integration) – Forecast 2022
Market Synopsis of Global Passenger information system Market:
Passenger information system is tool, used by the public transport providers for sharing details about the transport vehicle such as arrival & departure time and delay in the timings of public transport to its customers. By using the passenger information system, the public transport providers can very well set the route and the timing of the buses, trains and flights. It can also be used to communicate the timetable of the public transport system to the customers by using websites, mobile applications and real time SMS among others. The market is driven by rapid developments in the telecommunication technology and the rising trend of using internet for ticket booking and getting information about train/ bus rather than visiting the stations. The customers are becoming more techno savvy and are using internet for checking the details and confirming their bookings for the desired journey, which is expected to drive the global passenger information system market. The shift of population from rural to the urban areas and the increase in disposable income of consumers has made incremental growth in purchasing of the personal vehicles. This dynamic increase in the purchase of private vehicles in the urban areas has led to problems like pollution and traffic. To overcome these problems more and more people are shifting towards public transportation, which is thereby act as an opportunity for passenger information system market. The global passenger information system market is expected to grow from US ~$9.1 Billion in 2016 to US~$ 37.5 Billion by 2022, at an estimated CAGR of 26.4%. The growth of this market can be constrained by the presence of inefficient infrastructure which facilitates the operation of passenger information system.
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Global Passenger Information System Market:
Study Objectives of Global Passenger information system Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Passenger information system market.
- To provide insights about factors affecting the market growth.
- To analyze the global passenger information system market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by solutions, components, services, channels and mode of transportation.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in theglobal Smartphone screen protector market.
The prominent players in the market of Passenger information system market are – Infax, Inc. (U.S.), Passio Technologies, Inc.(U.S.), General Electric Company (U.S.), Huawei Technologies Co. Ltd (China), Cubic Transportation Systems (U.S.), Medha Servo Drives Pvt. Ltd (India), Siemens AG (Germany), Advantech Corp. (Taiwan), Televic Rail NV (Belgium) and Neusoft Corporation (China) among others.
The Global Passenger information system market has been segmented on the basis of solutions, components, services, and mode of transportation. Solutions comprises of information announcement systems, display systems, emergency communication systems, infotainment systems and passenger information mobile applications among others. Components include multimedia displays, networking devices, communication devices, sensors and others. Services are cloud, professional and integration among others. The modes of transportation are roadways, railways and airways.
The North America region has a sound public infrastructure which helps in growth of passenger information system market. The growth of smartphone technology is also driving the passengers to get real time information about the transport services in the region. In Europe region, the public transportation system is highly developed and the public transport providers are connecting the GPS systems on the vehicle with their websites which provides the consumer with accurate data about the
location of the public transport vehicle. All these information helps in reducing the travelling and waiting time of the consumers. The developing nations in the Asia Pacific region such as India and China are facing few concerns like growing population and lack of infrastructure which therefore has increased the dependence of passengers on the public transport vehicle. This region is expected to contribute in the growth of passenger information system market with a higher CAGR in the forecasted period, due numerous initiative taken by the government and investment by various foreign players.
- Passenger information system providers
- Passenger information system operators
- Transit agencies
- Research institute
- End users
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