Passenger Information System Market by Mode of Transportation and Geography - Forecast and Analysis 2021-2025

The passenger information system market share is expected to increase by USD 15.37 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 13.52%.

This passenger information system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers passenger information system market segmentation by mode of transportation (railways, roadways, and air and waterways) and geography (North America, Europe, APAC, South America, and MEA). The passenger information system market report also offers information on several market vendors, including Advantech Co. Ltd., ALSTOM SA, Cisco Systems Inc., Cubic Corp., Hitachi Ltd., Huawei Investment and Holding Co. Ltd., Siemens AG, Teleste Corp., Thales Group, and Wabtec Corp. among others.

What will the Passenger Information System Market Size be During the Forecast Period?

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" Federal Highway Administration, the total freight shipments in the US are expected to increase from an estimated 17.8 billion tons in 2017 to 24.1 billion tons in 2040, a 35% increase"

Passenger Information System Market: Key Drivers and Challenges

The increasing availability of app-driven services is notably driving the passenger information system market growth, although factors such as outdated infrastructure and other technical challenges may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the passenger information system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Passenger Information System Market Driver

The growing trend of connectivity in vehicles has resulted in consumers connecting their smartphones and tablets to the in-vehicle infotainment systems to access enhanced entertainment and information. Most vendors in the market are expanding their roadside assistance services coverage through mobile app-based services. This service has eliminated complexity from contacting roadside assistance service providers while ensuring prompt services to app users. Such services have eased the service delivery process of vendors and have also aided in increasing their market share. With an increase in the number of smartphone users connecting their smartphones to their automobile infotainment systems, the demand for app-based roadside assistance services is increasing, which is driving the growth of the passenger information system market. 

Key Passenger Information System Market Challenge

Most of the railway, roadway, and water industry operators still use legacy software that is outdated, which in turn is affecting the adoption of advanced technologies. Integration complexities arise over legacy systems and networks, which creates technical challenges for operators. These technical challenges increase the difficulty faced by the operators to scale their business and IT infrastructure. Due to the use of legacy systems, it is not easy to integrate new technologies into old systems, and interpretability becomes a major issue. Hence, the railway industry is renewing and replacing legacy railway systems in an efficient manner, but without disrupting regular train service operations, which is a major challenge. Moreover, even if the operators try to deploy the latest systems, technological changes will require workers to acquire specific skills to operate such systems. The lack of a skilled workforce is another challenge faced by the operators. Thus, the presence of legacy infrastructure and aging systems is expected to hinder the adoption of passenger information systems and adversely affect the growth of the market in focus. 

This passenger information system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Market Overview

The parent global IT spending market covers revenue generated from the sales and subscription of IT services, communications services, cloud services, IT hardware, and IT software. Technavio calculates the global IT spending market size based on various IT solutions spending by various end-user industries such as healthcare; banking, financial services, and insurance (BFSI); retail; transportation; media and entertainment; and construction. Growth in the global IT spending market will be driven by the following factors: Increasing government investments in IT infrastructure: Government agencies in several countries lack employees possessing expertise in current IT skills.

Who are the Major Passenger Information System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Advantech Co. Ltd.
• ALSTOM SA
• Cisco Systems Inc.
• Cubic Corp.
• Hitachi Ltd.
• Huawei Investment and Holding Co. Ltd.
• Siemens AG
• Teleste Corp.
• Thales Group
• Wabtec Corp.

This statistical study of the passenger information system market encompasses successful business strategies deployed by the key vendors. The passenger information system market is fragmented and the vendors are expanding their product portfolio to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The passenger information system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Passenger Information System Market?

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31% of the market's growth will originate from North America during the forecast period. The US is a key market for passenger information systems in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The use of automation and data analytics in freight rail will facilitate the passenger information system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Mode of Transportation Segments in the Passenger Information System Market?

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The passenger information system market share growth by the railways segment will be significant during the forecast period. In the railways segment, passenger information systems have specific applications and are integrated to help operators make intelligent use of all rail assets, from tracks to trains, to meet the increasing consumer demand for efficient and safe transportation services. As an increasing number of operators are investing in updating infrastructure and emerging technologies, the segment is expected to grow and continue to have the largest share of the market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the passenger information system market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Passenger Information System Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive passenger information system market growth during the next five years
• Precise estimation of the passenger information system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the passenger information system industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of passenger information system market vendors

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