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The passenger information system market size is forecast to increase by USD 22.08 billion, at a CAGR of 13.65% between 2022 and 2027. Market expansion hinges on various factors, notably the proliferation of app-driven services for Passenger Information Systems (PIS), the widespread adoption of advanced technologies, and escalating investments by both government and private sectors in railway infrastructure. The availability of app-driven services enhances passenger experience and convenience, driving demand for PIS solutions. Concurrently, the adoption of advanced technologies like IoT, AI, and data analytics optimizes railway operations and enhances system efficiency, further fueling market growth. Moreover, increased investments in railway infrastructure by government bodies and private entities stimulate the demand for modernized PIS solutions to improve passenger safety and satisfaction. These factors collectively contribute to the expansion of the market, reflecting the intersection of technological innovation, evolving consumer expectations, and infrastructure development initiatives within the railway sector.
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The market plays a crucial role for enhancing public transport use by providing real-time travel information to passengers and travelers. These systems, often integrated with cloud-based solutions and big data technologies, offer positive user experiences through intelligent public transportation systems and advanced PIS solutions. They facilitate stress reduction by offering timely announcements, status updates, and schedule of journey information across various transportation modes like bus and flight. Audible and visual communication tools, including indicator panels and screens, ensure effective communication in urbanized areas.
This market report extensively covers market segmentation by component (solution and services), mode of transportation (railways, roadways, and air and waterways), and 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.
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.
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The solution segment was valued at USD 10.44 billion in 2017. 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. Further, 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.
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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.
Further, 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.
Passenger information systems (PIS) play a vital role in modern urbanization by offering travelers real-time updates and enhancing their positive user experience. These systems serve as an essential operating tool for transportation providers, delivering crucial information at stations and transfer facilities. Integrated with cloud and big data technologies, they leverage the telecommunication sector and IoT adoption to ensure efficient communication and data management across various platform for improved transit experiences. 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. Besides, 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.
Thus, through mobile app-based services, the majority of market participants are increasing the geographic scope of their roadside assistance offerings. Further, 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 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.
Moreover, 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 market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market 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.
The market forecast report also includes detailed analysis of the competitive landscape of the market and information of about 20 market 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
Passenger Information Systems (PIS) are the core component of modern transportation networks, empowering passengers with accurate and timely data delivery. They integrate with platform-level signage and third-party applications, utilizing automated public-address systems to provide essential information like arrival and departure times and updates on delays or disruptions. While implementation costs and technical hitches are challenges, advancements in IoT platforms and 5G networks are revolutionizing the field, enabling enhanced communication networks and smart technology elements for safer and more efficient travel experiences.
In the 5G era, Passenger Information Systems (PIS) are advancing with global IoT connections and technological R&D activities to commercialize 5G. These systems leverage smart devices and automation for efficient operations, addressing communication gaps and protocol issues with open interfaces. They cater to connected and autonomous vehicles across roadway and railway segments, ensuring safe travel through real-time displays and AI chatbots. Mobile app integration enhances accessibility for tech-savvy citizens, while data analytics solutions optimize operational procedures for transportation networks in smart cities. Despite challenges like electricity costs and integration issues, PIS facilitates factual information delivery, vital for real-time information systems in metro rail projects and transit agencies.
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 Companies, Market Positioning of Companies, 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 the 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.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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