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

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.