Enjoy complimentary customisation on priority with our Enterprise License!
The passenger information system market is estimated to grow at a CAGR of 13.65% between 2022 and 2027. The market size is forecast to increase by USD 22.08 billion. The growth of the market depends on several factors, including the increasing availability of app-driven services for PIS, the rising adoption of advanced technologies, and the increase in government and private sector investments in railways.
This passenger information system market report extensively covers market segmentation by component (solution and services), mode of transportation (railways, roadways, and air and waterways), geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The increasing availability of app-driven services for PIS is notably driving the market growth, although factors such as outdated infrastructure and other technical challenges may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing availability of app-driven services for PIS is notably driving the market growth. The demand for telematics and built-in connectivity in cars has sparked technological advancements that aim to improve the overall in-vehicle experience for both drivers and passengers. Consumers expect to interact with their in-car infotainment systems in a similar way to how they do with their personal mobile devices, particularly in terms of the user interface, as they are accustomed to doing.
In order to access better entertainment and information, consumers connect their smartphones and tablets to in-vehicle infotainment systems driven by the growing trend of connectivity in vehicles. Through mobile app-based services, the majority of market participants are increasing the geographic scope of their roadside assistance offerings. This service guarantees prompt service to app users while removing the hassle of contacting roadside assistance service providers. Companies like URGENT. LY INC. and HONK Technologies based in the US are good examples providing on-demand tow truck and roadside assistance mobile app platform. This platform assists in establishing a connection between app users (customers) and providers of roadside assistance services. Vendors' ability to deliver services has been facilitated by such services, which have also helped them gain market share. The demand for app-based roadside assistance services is rising as more smartphone users connect their smartphones to their car's infotainment systems, which is anticipated to propel the growth of the global passenger information system market during the forecast period.
The usage of IoT and big data to drive efficiency is a key trend shaping the market. Large amounts of big data are produced by the transportation sector's connected stakeholders. This information is vital and can be used to raise passenger safety standards as well as station and freight operation effectiveness. Big data structures with various components, such as cloud computing, cyber-physical systems, and the Internet of Things, are needed to build smart railways.
There are many sources from which data is produced as the networks of roads, railroads, and airplanes become more intelligent. For instance, onboard control and monitoring systems transform trains into multi-channel communication hubs that can send pertinent data to network control centers. Similarly, the transportation industry can benefit from the billions of data points generated by sensors and software platforms by increasing efficiency in various sectors. The data, for instance, can be used to decrease unexpected downtime and enhance business planning based on actual and current data. By regulating energy use and lowering maintenance costs by preventing unexpected machine failure, this data can also result in energy and cost savings. Similarly, train location and detection systems let drivers know where other trains are, which lowers the likelihood of collisions and enables trains to run close to one another efficiently and safely.
Outdated infrastructure and other technical challenges impede the growth of the market. The majority of operators in the transportation sector roadway, waterway, and railway continue to use dated legacy software, which is inhibiting the uptake of cutting-edge innovations. Technical difficulties for operators are brought on by integration difficulties over legacy systems and networks. These technical difficulties make it more challenging for the operators to scale their businesses and IT infrastructure.
Many nations in Europe and North America, have outdated road and rail infrastructure. Pressure on this infrastructure is being put on it by both the ongoing use of the railroads and the expectations of the public for better services. There is a greater need for better transportation services due to the population's rapid growth. In addition, a growing number of people are using trains because they are more convenient and cheaper than flying. Additionally, as the infrastructure ages, the likelihood of an accident or a machine failure increases, necessitating the expansion and upgrade of the current infrastructure. However, because legacy systems are still in use, it is difficult to integrate new technologies into them, and interpretability becomes a significant problem. As a result, the railway sector is faced with the difficult task of efficiently updating and replacing antiquated rail systems without interfering with the operation of regular train services.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Passenger Information System Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advantech Co. Ltd. - The company offers passenger information system such as ARS-P3800 railway panel PC.
The research report also includes detailed analysis of the competitive landscape of the market and information of about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the solution segment will be significant during the forecast period. The demand for passenger information systems has risen dramatically in the last decade, driven by a desire to provide exceptional customer experience, real-time passenger data, and operational efficiency for transportation firms. Solutions used in the passenger information system sector include passenger announcement systems, mobile apps, and systems for displays and signage.
Passengers can use their personal devices to access this information through mobile apps, and display and signage systems offer real-time updates on arrivals, departure times, route information, etc. Passenger announcement systems give passengers audible information. The implementation of these solutions is anticipated to increase as governments and transportation authorities invest in modernizing their public transportation infrastructure to improve passenger comfort and relieve congestion, which will fuel the growth of the market in focus during the forecast period.
Get a glance at the market contribution of various segments View the PDF Sample
The solution segment was valued at USD 10.44 billion in 2017 and continued to grow until 2021. The market is expected to grow in focus during the next year as governments and transportation authorities invest significant amounts of money in modernizing their public transportation infrastructure to alleviate congestion and improve passenger comfort.
The focus on these solutions will propel the market forward as governments and transportation authorities invest in modernizing their public transportation infrastructure to reduce congestion and improve passenger comfort.
These solutions are likely to be more widely adopted as governments and transportation authorities continue to modernize their public transportation infrastructure to reduce congestion and improve passenger comfort, fueling the growth of the market in focus during this time. As governments and transportation authorities work to modernize their public transportation infrastructure, these solutions are expected to become more widely used as the market becomes more concentrated in the future. These solutions are likely to be more widely adopted as governments and transportation authorities continue to modernize their public transportation infrastructure to reduce congestion and improve passenger comfort, fueling the growth of the market in focus during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
During the forecast period, it is anticipated that there will be a rise in demand for transportation that is secure, affordable, and more eco-friendly. The passenger information system, which provides real-time information, is becoming more significant in North American railroads. The majority of industrial goods, including their import and export, are transported via railroads, which act as the backbone of industrial activities. For instance, historically coal has produced more electricity than any other fuel, and approximately 70% of the coal is delivered to power plants by rail. Due to the rising demand for rail transportation, overall spending on rail transportation has increased. The need to move more freight will rise along with the region's economies as they develop. For instance, according to a recent estimate by the Federal Highway Administration, total freight shipments in the US are predicted to rise from an estimated 17.8 billion tons in 2017 to a projected 24.1 billion tons in 2040, a 35 percent increase. This rise in freight shipments will increase demand for freight railways from manufacturing plants to ports.
Due to the COVID-19 outbreak in the area, the railway industry saw a sharp decline in passenger traffic. However, the number of passengers increased after vaccination programs and safety measures were implemented at railroad stations. As a result of such factors, cloud computing is being adopted more frequently for tracking passenger data, which will increase the demand for passenger information systems. Additionally, the US Department of Transportation announced in March 2021 that it would invest USD 1.2 billion in Milwaukee, Wisconsins Interstate 94 (I-94) s expansion and reconstruction. As part of the project, overpasses and bridges will be rebuilt, new lanes will be added, and new paths for bikes and pedestrians will be built. By 2025, the project ought to be completed. This expansion includes the US government's USD 2 trillion infrastructure plan, which aims to upgrade roads, bridges, and highways all across the nation. During the forecast period, these developments are anticipated to significantly increase the demand for passenger information systems and will boost the growth of the regional market for these systems.
The passenger information system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the Passenger Information System Market as a part of the global data processing and outsourced services market within the global information and technology (IT) services market. The parent global IT services market covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global data processing and outsourced services market covers providers of commercial electronic data processing and/or business process outsourcing services. It also includes companies that provide services for back-office automation.
Passenger Information System Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.65% |
Market growth 2023-2027 |
USD 22.08 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.87 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advantech Co. Ltd., ALSTOM SA, Cisco Systems Inc., Cubic Corp., Dysten Sp. z o. o, Hitachi Ltd., Huawei Technologies Co. Ltd., ICON MULTIMEDIA SL, Indra Sistemas SA, LUNETTA Pvt. Ltd., Mitsubishi Electric Corp., Passio Technologies Inc., r2p GmbH, Rohde and Schwarz GmbH and Co. KG, Siemens AG, Singapore Technologies Engineering Ltd., Teleste Corp., Televic Group NV, Thales Group, and Wabtec Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.