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The passenger information system market size is forecast to increase by USD 32.8 billion at a CAGR of 16.87% between 2023 and 2028. The market is experiencing significant growth due to the integration of smart technology elements, such as real-time displays and AI chatbots, in various modes of transportation, including trains, planes, and roadways. Tech-savvy citizens' increasing demand for cost-effective, efficient, and convenient transportation solutions is driving investments in advanced PIS technologies. In the trains segment, the focus is on improving navigation and integration with mobile apps. In the aviation industry, real-time information and seamless connectivity are essential. The roadways segment is witnessing the adoption of advanced technologies like IoT and big data to optimize operations and enhance the user experience.
The market is witnessing significant growth due to the increasing demand for real-time travel information and improved user experience. This system plays a vital role in various transportation modes, including buses, trains, and flights, by providing passengers and travelers with essential status updates, schedule information, and timely announcements. Urbanization and the subsequent rise in public transport use have led to an increased need for advanced PIS solutions. The schedule of the journey includes various modes of transportation, such as bus, train, and flight, while leveraging advancements in the telecommunication sector, IoT adoption, and cloud and big data technologies to enhance the travel experience. These systems help transportation providers manage their operations efficiently and reduce passenger stress by keeping them informed about their journey in real-time.
Furthermore, the telecommunication sector's continuous advancement, particularly the adoption of Internet of Things (IoT) technology, is fueling the growth of the PIS market. Cloud-based solutions have become increasingly popular due to their flexibility and scalability, enabling real-time data processing and transmission. Passengers and travelers rely heavily on their mobile devices and indicator panels, such as screens at stations and on vehicles, to access real-time travel information. This constant connectivity ensures that they are always informed about any changes to their schedule or travel plans, allowing them to make necessary adjustments and plan their journeys accordingly. PIS solutions provide numerous benefits, including stress reduction, enhanced safety, and improved operational efficiency.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The solution segment is estimated to witness significant growth during the forecast period. The market has witnessed significant growth in recent years, fueled by the increasing adoption of Intelligent Transportation Systems (ITS) in smart cities. PIS serves as an essential operating tool for transportation providers, delivering factual information to passengers and travelers in real-time. This real-time travel information is crucial for ensuring safe and efficient transportation, enhancing customer experience, and optimizing operational processes. Various solutions are available in the PIS market, including indicator panels, screens, and mobile applications. Indicator panels and screens are strategically placed at transportation hubs to provide passengers with up-to-the-minute information on arrivals, departures, and route details.
Furthermore, mobile applications, on the other hand, enable passengers to access this information on their personal devices, offering convenience and flexibility. Passenger announcement systems provide audible information, catering to passengers with visual impairments or those who prefer auditory updates. The Internet plays a vital role in facilitating data transfer between transportation providers and passengers, ensuring seamless communication and information exchange. As the demand for real-time, accurate, and accessible travel information continues to grow, the PIS market is expected to expand further, revolutionizing the way we travel.
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The solution segment was valued at USD 11.70 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 29% 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.
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In North America, the use of passenger information systems (PIS) in public transportation is becoming increasingly crucial, particularly in railways. Railways play a significant role in the region's industrial sector, transporting a large percentage of goods, including industrial exports and imports. Coal, for instance, which historically generates the most electricity, is primarily transported via railways, accounting for around 70% of its delivery to power plants. As economies in North America expand, the need to transport more freight is expected to rise. Cloud-based PIS solutions are gaining popularity due to their ability to provide real-time information to passengers. Advanced PIS systems offer a positive user experience, reducing stress and empowering passengers with essential travel information.
Furthermore, these solutions include platform-level signage and third-party applications. Transportation providers can benefit from these systems by enhancing passenger satisfaction and improving operational efficiency. PIS systems serve as a core component of modern transportation infrastructure, ensuring a seamless travel experience for passengers.
Our researchers analyzed the data with 2023 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.
Increasing availability of app-driven services for PIS is the key driver of the market. The market has witnessed significant growth due to the increasing demand for real-time information and connectivity in transportation. Delays and disruptions in travel plans have led to the implementation of advanced systems to keep passengers informed. companies are investing in these solutions to provide seamless communication between passengers, logistics companies, and transportation providers. Electricity costs and maintenance costs are essential considerations for the implementation of these systems. IoT platforms and electronic devices are integral components of these systems, requiring skilled professionals for installation and maintenance. Data transfer and technical hitches are common challenges that companies are addressing through automation and control mechanisms.
Furthermore, connectivity is a crucial factor in the success of these systems. companies are integrating mobile applications and mobile devices to provide real-time information and enhance the user experience. Roadside assistance services are being offered through mobile apps, eliminating the need for direct contact with service providers and ensuring prompt services to users. In conclusion, the market is witnessing substantial growth due to the increasing demand for real-time information and connectivity in transportation. companies are addressing challenges such as electricity costs, maintenance costs, data transfer, and technical hitches through automation, control mechanisms, and skilled professionals. Connectivity and mobile applications are essential components of these systems, providing a seamless user experience and enhancing overall transportation efficiency.
IoT and big data driving efficiency is the upcoming trend in the market. In the rapidly evolving transportation sector, smart technology elements are revolutionizing railways, planes, and roadways. Big data generated from interconnected stakeholders is a valuable asset, enhancing passenger safety and optimizing station and freight operations. To build intelligent transportation networks, a strong data infrastructure is essential, comprising cyber-physical systems, the Internet of Things (IoT), and cloud computing.
Furthermore, trains, planes, and automobiles are transforming into integrated communication hubs, with onboard control and monitoring systems transferring data to network control centers for real-time analysis. Billions of data points from sensors and software platforms are harnessed to bring efficiency to various sectors of the transportation industry. Smart technology integration is evident in real-time displays, AI chatbots, and mobile app navigation, catering to tech-savvy citizens' needs. As transportation networks become increasingly connected, data-driven insights will continue to play a pivotal role in improving overall performance and delivering a superior passenger experience.
Outdated infrastructure and other technical challenges is a key challenge affecting the market growth. In the transportation industry, the shift towards advanced technologies, particularly during the 5G era, is becoming increasingly important. However, many operators continue to rely on outdated legacy software and systems, creating integration complexities and communication gaps. These challenges hinder the scalability of businesses and IT infrastructure in the railway, roadway, and water industries. With the global IoT connections expanding, there is a pressing need for modernization. Europe and North America, in particular, have aging transportation infrastructure, putting pressure on operators to enhance services and meet growing population demands.
Furthermore, the adoption of 5G networks and the implementation of computer software and hardware on smart devices with open interfaces can help address these issues. However, protocol and integration concerns must be addressed to ensure seamless communication and efficient operations. It is crucial for operators to navigate these complexities and commercialize 5G technology to remain competitive and meet evolving customer expectations.
The market forecasting 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 market growth analysis strategies.
Customer Landscape
Companies 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 market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the transportation industry, the demand for advanced Passenger Information Systems (PIS) solutions is surging due to urbanization and the increasing use of public transport. Real-time information is a core component of PIS, empowering passengers by reducing stress and providing positive user experiences. Cloud-based solutions enable connectivity and automation, allowing for platform-level signage, third-party applications, and AI chatbots. Implementation costs, maintenance costs, electricity costs, and data transfer are crucial factors in the adoption of PIS. Technical hitches and skilled professionals are required for installation and integration with legacy systems. The 5G era and global IoT connections are commercialized 5G networks, enabling real-time information transfer and communication between transportation providers and passengers.
Furthermore, smart technology elements, such as electronic devices and IoT platforms, play a significant role in PIS. Navigation, mobile app integration, and real-time displays are essential features for tech-savvy citizens. Logistics companies and transportation modes, including trains, planes, and roadways, benefit from PIS. PIS offers factual information for passengers and travelers, ensuring safe travel and timely announcements. Real-time vehicle location, status updates, and schedule of journeys are essential for efficient transportation networks in smart cities. The integration of PIS with IT systems, software services, and information display systems enhances operational procedures and communication gaps. In conclusion, the adoption of advanced PIS solutions is a significant investment in the transportation industry.
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Market Scope |
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Report Coverage |
Details |
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Page number |
181 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.87% |
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Market growth 2024-2028 |
USD 32.8 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
14.03 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 29% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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 WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Mode of Transportation
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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