Robust CAGR of 10.6% to Elevate Passenger Information System Market to US$ 62.6 Billion by 2031

 The Global Passenger Information System (PIS) Market (승객 정보 시스템(PIS) 시장) is on a trajectory of significant growth, projected to expand from USD 25.4 billion in 2022 to an impressive USD 62.6 billion by the end of 2031, representing a robust compound annual growth rate (CAGR) of 10.6% during the forecast period from 2023 to 2031. This growth is underpinned by the rising demand for real-time information, increased smartphone usage, and the adoption of advanced technologies like IoT, cloud computing, and big data analytics.

 

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Passenger information systems have become integral to the public transportation sector, offering real-time and static information to enhance the overall travel experience. These systems not only improve efficiency and effectiveness but also significantly boost customer satisfaction. As urbanization accelerates and the demand for timely information grows, passenger information systems are expected to play a pivotal role in shaping the future of public transportation.

However, the market is not without its challenges. High implementation costs and the lack of advanced infrastructure in certain regions may pose hurdles to widespread adoption. Despite these challenges, the surge in IoT and cloud technologies is creating lucrative opportunities for market players, driving innovation and enhancing the capabilities of passenger information systems.

 

Market Introduction: Passenger information systems are automated platforms that provide real-time updates to passengers about the status of public transportation services. These systems track vehicle locations, predict arrival and departure times, and notify passengers of delays and disruptions. They are vital tools for public transportation agencies, improving customer experience and operational efficiency.

The implementation of passenger information systems can take various forms, including on-board displays, station signage, and mobile applications. These systems are particularly valuable for passengers, offering them timely and accurate information that helps them make informed travel decisions.

 

Key Market Drivers

1. Surge in Smartphone Usage and Internet Services

The global proliferation of smartphones and internet services has revolutionized how passengers access information and interact with transportation systems. Mobile applications have become the primary platform for accessing passenger information, offering real-time updates, personalized notifications, and an intuitive user interface. Passengers can now easily check schedules, plan routes, and receive alerts directly on their smartphones, enhancing their travel experience.

One notable example is the mobile application iPanel by Daitik, which provides passengers with comprehensive information about timetables, delays, and other incidents, all accessible through their smartphones.

As internet connectivity continues to improve, passenger information systems are becoming more integrated with mobile platforms, ensuring that passengers remain informed throughout their journey.

 

2. Adoption of Cloud, IoT, and Big Data Technologies

The integration of cloud technologies into passenger information systems offers scalable and flexible infrastructure, allowing providers to easily adjust resources based on demand. Cloud platforms also enhance system reliability, security, and accessibility, ensuring seamless operations for passengers.

For instance, New York’s John F. Kennedy International Airport leverages a cloud-based software system to monitor and forecast terminal traffic, optimizing resource allocation and improving the overall passenger experience.

IoT technologies further enhance passenger information systems by integrating sensors and devices within transportation networks. These systems collect real-time data on passenger flows, vehicle locations, and traffic conditions, providing accurate and up-to-date information to passengers.

The adoption of big data technologies allows providers to analyze large volumes of data from various sources, gaining valuable insights into passenger behavior and preferences. This data-driven approach enables providers to continuously improve their services, personalize passenger experiences, and optimize resource allocation.

 

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Regional Market Insights

1. North America: A Dominant Force

North America is expected to maintain its dominance in the global passenger information system market (Marché des systèmes d'information des passagers (PIS) during the forecast period. The region's strong presence of leading PIS vendors, coupled with substantial investments in research and development, is driving market growth. The U.S., in particular, benefits from a robust public transportation system and extensive network connectivity, further fueling the demand for advanced passenger information systems.

2. Asia Pacific: Rapid Growth on the Horizon

The Asia Pacific region is anticipated to witness the highest CAGR during the forecast period. Governments in the region are actively pursuing initiatives to digitize and upgrade passenger information systems as part of broader smart city projects. In countries like China and India, large-scale implementations of these systems are transforming the transportation ecosystem, catering to the growing number of passengers and enhancing overall efficiency.

 

Market Segmentation

Component

·         Solutions

·         Display Systems

·         Announcement Systems

·         Emergency Communication Systems

·         Mobile Applications

·         Infotainment Systems

·         Others

·         Services

·         Integration & Implementation Services

·         Support & Maintenance Services

Mass Transit Hub

·         Airport

·         Rail

·         Railways

·         Metros

·         Road

·         Ports

Functional Mode

·         Multimedia Display

·         Audio System

·         Computing System

·         Video Surveillance

·         Others

Location

·         On Board

·         In Station

 

Competitive Landscape

·         Advantech Corporation

·         Alstom SA

·         Cisco Systems Inc.

·         Cubic Transportation Systems

·         Funkwerk AG

·         Hitachi, Ltd.

·         Huawei Technologies Co., Ltd.

·         Indra Sistemas, S.A.

·         Mitsubishi Electric Corporation

·         Siemens AG

·         Simpleway

·         Teleste Oyj

·         Televic Group NV

·         Thales Group

Recent Developments

• In March 2023, Irish Rail initiated the installation of electronic passenger information systems across all train stations on the Cork commuter rail network. This project includes the deployment of dual-language digital screens, public address speakers, CCTV systems, and induction hearing loops, significantly enhancing accessibility and customer experience.
• In January 2023, Deutsche Bahn (DB) rolled out new passenger information systems on regional routes in Germany, offering real-time occupancy information on train displays, helping passengers make informed decisions about their travel.
• In September 2021, Singapore's Land Transport Authority (LTA) began installing new passenger information systems at over 300 bus stops across the country, as part of a broader initiative to enhance public transportation infrastructure.

 

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