USD 26.63 billion
Passenger Information System Market Size, Share, Growth Analysis, By Offering(Solutions, and services), By Location(On-board, in-station), By Transportation Mode(Railways, Roadways, and Airways & Waterways), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45C2072 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
92
|Figures:
76
Passenger Information System Market Insights
Global Passenger Information System Market size was valued at USD 26.07 billion in 2022 and is poised to grow from USD 29.30 billion in 2023 to USD 74.64 billion by 2031, growing at a CAGR of 12.4% in the forecast period (2024-2031).
There is a rising need for timely journey updates such as the time of arrival, delay information, or changes in services. This requires ensuring such updates come from advanced passenger information system solutions. Moreover, innovations in technological advancements such as Artificial Intelligence, Internet of Things, big data analysis, and mobile applications greatly enhance such capabilities. These approaches allow for better data integration and provide improved user experience. Modernization of public transport systems across the globe has been a growth driver for the consistent growth of the market.
One of the primary reasons for the increased demand for passenger information system solutions is the rapid urbanization in numerous cities, which results in the increased population of modern cities at an extraordinary density. Consequently, the number of people who are reliant on public transport hubs also increases, thus creating the demand for efficient passenger IT solutions. As part of different smart city initiatives and infrastructure projects dedicated to servicing a growing urban population, there is an increased demand for intelligent public transportation modes. Another reason is the Passenger Information System’s high adaptability and its ability to seamlessly integrate with other solutions, examples of which include ticketing platforms, mobile applications, and traffic management software.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Services
Growth Rate
11.9% CAGR
Global Passenger Information System Market ($ Bn)
Country Share for North America Region (%)
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Passenger Information System Market Segmental Analysis
Global Passenger Information System Market is segmented on the basis of offering, location, transportation mode, and region. By offering, market is segmented into solutions, and services. By location, market is segmented into on-board, in-station. By transportation mode, market is segmented into Railways, roadways, and airways & waterways. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Offering
The solution segment is projected to dominate the market and account for the largest revenue share in 2023. The solution component in PIS is defined as the integrated technologies and methodologies used to collect, process, and disseminate information to passengers. Rapid technological progress has made it easier and more cost-effective to implement a sophisticated PIS solution that utilizes big data or cloud computing analytics or machine-learning algorithms. In addition, other technologies and methods that have also facilitated effective information collection include AI, Machine Learning, the Internet of Things, and big data analytics, which can improve predictive capabilities regarding traffic patterns or potential delays.
During the forecast period, the services segment is anticipated to exhibit the highest growth rate. The increasing demand for enhanced passenger experience, ongoing technical advancements, and growing complexities related to transportation networks are some of the factors propelling the growth in the services sector. In addition, the rapid development of the Internet of Things, cloud computing, and mobile devices has allowed for a greater availability of data at a faster pace. Thus, the market has witnessed an upsurge in the demand for dynamic service offerings that can leverage these technological developments.
Analysis by Transportation Mode
As of 2023, the railway segment dominated the market by holding the largest revenue share. Passenger information systems convey alerts about any emergency situation, or service disruption, which adds to safety. In the case of any incident, effective communication through passenger information systems will provide guidance to the passengers and inform them about the procedures of evacuation, thereby avoiding panic and ensuring orderly conduct during the time of crises. The managed passenger information system adopted by the modern scenario is formulated to be inclusive, meeting the needs of passengers with regard to disabilities. Audio announcements along with visual displays would ensure that complete information reaches the passengers, irrespective of their physical abilities.
The roadway segment is anticipated to witness the fastest growth rate over the forecast period. It simply results from using PIS to increase the efficiency, safety, and comfort of travelers. As urban transformations threaten to exacerbate traffic congestion, the need to boost the provision of timely and relevant information grows. Passengers need to know about any changes in traffic movement, including timetables, delays, and bypass options. PIS copes with this function using a full range of available information channels, including electronic displays, mobile applications, and websites. These factors are increasing the growth of the roadway segment in the passenger information system market.
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Passenger Information System Market Regional Insights
North America passenger information system market held the largest demand share in 2023. Due to growing urbanization, the number of urban migrations has increased, surging the demand for efficient public transportation systems that can provide real-time information systems and can manage information is some of the driving factors for the market growth. The technological advancement in the market offers solutions that are advanced in GPS tracking, mobile applications, digital signage, and other features to better manage passenger access for real-time information. Moreover, as the emphasis on safety and security keeps growing, the market is driven by increasing demand for ensuring emergency alerts and data privacy.
Asia Pacific passenger information system market is anticipated to grow at the fastest CAGR over the forecast period as the fast urbanization of the major growing economies in the region has heightened the demand for PIS solutions. In addition, the transformation of markets by selected technologies, particularly by the integration of IoT and AI, has disseminated passenger information, enabled context-aware services and personalization, and incentivized the use of products and services by passengers. Furthermore, the electric vehicle revolution has propelled the growth of the onboard passenger information system market in the Asia Pacific region. Increasing emphasis on public safety in the public transport system has led to the increased demand for real-time information of the journey and surging the demand for the systems with effective transit schedule updates.
Global Passenger Information System Market By Geography
- Largest
- Fastest
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Passenger Information System Market Dynamics
Drivers
Increasing Demand for Smart Transportation
- Smart public transportation systems are particularly customer-oriented, so they effectively help people navigate across the city rather than causing stress by being late or under different conditions. In addition, PIS is one of the core components in intelligent transportation systems, which integrate the respective data from different sources. Thus, informative passenger systems are likely to promote the market in the future.
Urbanization and Smart City Initiatives
- According to research conducted by United Nations research, more than 60% of the world population is expected to live in cities by 2050. Cities are pushed to deploy smarter and more efficient technology because of the rising complexity and demand in urban transportation networks. The use of passenger information systems is closely related to controlling real-time data and linking urban transport systems to improve passenger convenience and operational efficiency.
Restraints
High Costs Associated with Implementing and Maintenance of Passenger Information Systems
- The total cost incurred in the establishment and maintenance of a PIS system is a setback to the growth of the PIS market. The implementation cost includes the cost incurred in the design of the system, and the cost of acquiring and installing the equipment required for the system to work. While the maintenance costs include the total cost of all the inputs required in the operation as well as the maintenance of the real time PIS solutions and services. These costs add up to increase the price burden of the consumers.
Difficulty of Integrating Passenger Information Systems in Legacy Infrastructure and Communication Systems
- Legacy systems refer to outdated computer software and hardware that organizations use even after they have modern technologies. Most of these systems do not have a configuration to deal with many of the developed smart devices and modern communication networks. The PIS market vendors find challenges in integrating the legacy systems with the different smart public transportation ecosystem components.
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Passenger Information System Market Competitive Landscape
Major companies in the market are spending significantly on research and development to increase their product range, driving the market of the passenger information system. The market participants are also involved in several strategic activities to increase their Global presence with significant market developments, which could be new product launches, contracts & agreements, mergers & acquisitions, increased investments & expansions, new chemical Populace or finally other advancements. In order to extend and thrive in a more competitive and rising market climate, the manufacturers must provide cost-effective goods. A key business strategies adopted by the manufacturers is the production of products locally to reduce operational costs.
Top Player’s Company Profiles
- Advantech Co., Ltd. (Taiwan)
- Alstom SA (France)
- Wabtec Corporation (United States)
- Cisco Systems, Inc. (United States)
- Siemens AG (Germany)
- Cubic Corporation (United States)
- Televic (Belgium)
- Huawei Technologies Co., Ltd. (China)
- Hitachi, Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- ST Engineering (Singapore)
- Indra (Spain)
- Medha Servo Drives (India)
- Efftronics (India)
- Dysten (Italy)
- Lunetta (Italy)
- R2P (Germany)
- Icon Multimedia (Spain)
- Passio Technologies (United States)
- Teleste (Finland)
- Lancom D.O.O. (Slovenia)
- Simpleway (Slovenia)
- EKE-Electronics (Finland)
- Quester Tangent (Canada)
- Lot Group (Austria)
Recent Developments
- In April 2024, Alstom SA entered a Memorandum of Understanding with TiB (Tag i Bergslagen) to improve railway technologies. This two-year collaboration is supposed to lead to upgrading of the passenger information system and other innovative solutions.
- In February 2024, Toshiba reported about significant investments into its expansion of passenger information display systems portfolio. The focus is on the real-time type of display which uses audial and visual communication systems. This type of display systems is primary in the process of modernization of the transportation infrastructure with great emphasis on the rail and metro sectors. They help to update passengers efficiently.
- In January 2024, the strategic partnership between Titagarh Railway Systems from Kolkata and Amber Group from Delhi NCR was announced. The partnership is intended to enhance the design and manufacturing of the advanced passenger information systems for those rapidly developing railroads.
Passenger Information System Key Market Trends
- Integration of Advanced Technology: The evolution of IoT facilitates the transfer of data between various electronic devices without any human interference. IoT-based ITS helps in the automation of railways, roadways, airways, and marine items increasing the experience of passenger transport. It is expected that the smart devices incorporated in better connectivity and automation and for control purposes will serve as more self-sustaining and intelligent in the data-distributing arena to the traffic management control centers and the cloud.
- Growing Automation Trends: Cloud computing enables the automation of different modes of transportation, such as railways. With the assistance of cloud technology and data analytics solutions, it is feasible to effectively allocate resources and inexpensively monitor the population of passengers. Increasing use of the mobile, internet as well as the need for timely and factual information to extend the connectivity and smooth transport of passengers and travelers at large are expected to be trends during the forecast period.
Passenger Information System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global passenger information system market has been experiencing tremendous growth in demand. The increasing adoption of the system by transit agencies to offer real-time, reliable and consistent passenger information is the key factor to drive the growth of the global passenger information systems market. Other key factors expected to boost the demand for passenger information system include the growing implementation of advanced technologies such as cloud, big data and IoT to develop such systems, in order to enhance the passenger’s overall experience, and the significant growth of smartphones and improved connectivity to offer passengers real-time information as some of the propelling factors to drive market growth in the upcoming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 26.07 billion |
| Market size value in 2031 | USD 74.64 billion |
| Growth Rate | 12.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Passenger Information System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Passenger Information System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Passenger Information System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Passenger Information System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Passenger Information System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Passenger Information System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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