Passenger Information System Market Size Forecast To Reach US$41 billion by 2027
Research Reports
Apr 08, 2022
Passenger Information System Market Report Overview
Passenger Information System Market size is analyzed to grow at a CAGR of 11.2% during the forecast 2022-2027 to reach $41 billion by 2027. Passenger information systems serve as a conduit of communication between a transit agency and its passengers. It enables the delivery of real-time automatic vehicle location and status updates, route schedules, and timely announcements. In addition to these features, it focuses on improving the transit experience for passengers by amusing them with infotainment systems. Furthermore, these devices can be installed on a platform as well as within a transportation vehicle such as a bus, train, or flight. Display systems, announcement systems, infotainment systems, mobile applications, emergency communication systems, passenger counting systems, and video monitoring systems are all part of the passenger information system. Among these, display systems are widely employed to deliver real-time visual data to passengers. The use of LCD (Liquid Crystal Display) and Light-Emitting Diode display in educational railway posters are a major trend in the passenger information system market. As the number of smartphone users connecting their smartphones to their automotive infotainment systems grows, so does the demand for app-based roadside assistance services, which is driving the expansion of the passenger information system market. Display systems, announcement systems, emergency communication systems, mobile applications, entertainment systems, passenger counting systems, and video monitoring systems are some of the components classified as solutions. The major factors driving the growth of the Passenger Information System (PASSENGER INFORMATION SYSTEM) market include increased demand for intelligent public transportation systems, including real-time transit information for passengers, widespread use of smartphones and other handheld devices with increased connectivity, increased use of advertising and information systems, technological advancements to improve the passenger experience, and an increase in urban population.
Passenger Information System Market Segment Analysis – By Location
By Location, Passenger Information System Market has been segmented into On Board, In Station. In 2021, the in-station sector will have a larger market share. The usage of passenger information systems in stations is becoming increasingly common, as such displays give passengers important travel information such as arrival/departure times, platform numbers, destinations, intermediate stations, potential delays, and so on. Such displays use an open communication protocol and are sufficiently adaptable to be easily integrated into existing station management systems. For example, the Indian Railways announced the introduction of a new passenger information system at Anakapalle Railway station of the Vijayawada Division in South Central Railway to provide a better experience and easier assistance to travelers. The usage of passenger information and security systems in stations aids in the proper dissemination of information. The system includes displays such as text-only LED, advanced LED, and plasma screens, as well as a public address system, emergency intercoms, cameras, CCTV and media controllers, and much more. Advantech and VinBus Ecology Transport Services Limited Liability Company (VinBus) inked a strategic collaboration contract in December 2020 to create an intelligent electric bus management system.
Passenger Information System Market Segment Analysis – By Functional Model
By Functional Model, Passenger Information System Market has been segmented into Multimedia Display, Audio Systems, Computing Systems, Networking and Communication Devices, Video Surveillance, Content Management System, Others. The multimedia display sector will dominate the market in 2021. The multimedia system in passenger information systems is entirely designed to provide passengers with real-time analysis of the route as well as disseminate significant advertising information, by employing various content types such as text, audio, video, and others presented on screen and monitors. Such displays aid in successfully disseminating useful information or messages to passengers regarding their mode of transportation. For example, using movies, audio-visual animations, or photos in between all bus positions for high-resolution, increased brightness, enhanced legibility, clarity, and visibility. The information displayed on the vehicle’s voyage utilizing the multimedia system is frequently accepted by disabled individuals and those who are poorly informed. The effective management of multimedia information systems aids in the automatic display of information at the local level or in real-time with the assistance of an operating center linked via various methods of communication.
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Passenger Information System Market Segment Analysis – By Geography
By Geography, Passenger Information System Market has been segmented into North America, Europe, APAC, South America, and RoW. North America is estimated to grow at the fastest CAGR of 20.20% during the forecast period. The United States and Canada are the region’s leaders, with substantial breakthroughs in the creation of smart cities and transportation projects. These countries have established sustainable economic growth, allowing them to increase their investment in R&D operations and hence contribute to the development of new technologies in the PIS market. North America is one of the most developed regions in terms of network infrastructure. This has resulted in an increase in market demand for PIS solutions and services. Because network connectivity is available in every corner, the majority of the transport industries in the region have implemented PIS solutions and services on a big scale. The emergence of SMEs, the adoption of digitization in the transportation sector, and the deployment of high-speed networks are expected to boost market expansion in North America. Furthermore, because of its high speed and low latency, 5G remains the backbone for IoT connectivity. The better IoT connectivity provided by 5G solutions is expected to improve transportation processes in the region, resulting in market growth. In January 2021, Cubic launched Umo, a fully integrated suite of platforms for riders, transit agencies, and mobility service providers to complement its existing portfolio of transportation technology.
Passenger Information System Market Drivers
Increased demand for intelligent public transportation systems, including real-time travel information for passengers is expected to drive market growth:
The growing demand for intelligent public transportation systems that give passengers real-time transit information is expected to fuel the growth of the passenger information system market. As the demand for real-time passenger information grows, transportation service providers and transit agencies are introducing passenger information system systems and services to improve passengers’ travel experiences. The public transportation industry currently needs to improve overall operating efficiency and passenger retention. This can be accomplished by improving the customer or passenger experience. To improve passenger happiness, transportation service providers are modernizing their information systems by introducing new features such as real-time data availability and in-transit network connectivity. The upgraded passenger information system provides travelers with personalized trip information in real-time. Alstom acquired Bombardier Transportation in January 2021. Alstom will improve its leadership in the burgeoning sustainable mobility sector by attaining critical size in all geographies and integrating additional solutions and assets to better serve its clients globally as part of the purchase.
Adoption of IoT, 5G, and automation technologies will help to improve technological optimization and promote market growth:
The evolution of the Internet of Things has facilitated the flow of information between various technological devices without the need for direct human contact. The integration of IoT platforms and PIS is expected to assist in fuel market expansion. According to Ericsson’s Mobility Report and IoT Forecast, almost 18 billion IoT devices will be available by 2022. The Internet of Things (IoT) is a mix of storing, processing, and computing sensor data utilizing data analytics to achieve and help in the successful administration of traffic systems. Intelligent Transportation Systems (ITS) based on IoT help automate trains, roadways, airways, and marine lines, improving passenger travel experiences. In terms of data exchange with transportation management control centers and the cloud, smart devices integrated for greater connection, automation, and control are expected to become more self-governing and intelligent. Wabtec launched BlueFilter, an air-filtration breakthrough, in June 2020 to ensure a clean and healthy atmosphere for metro and train passengers. By eliminating more than 90% of impurities per air cycle, the TÜV-tested filter continuously offers fresh and clean air onboard metro and railcars. BlueFilter’s design eliminates pollutants ranging in size from 0.1 to 1,000 micrometres. Allergens, bacteria, different dusts, and viruses are examples of these.
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Passenger Information System Market Challenges
Complexities in the integration of legacy infrastructure and communication networks are projected to hinder market expansion:
Legacy systems are outdated computer software and hardware that continue to be used even after modern technologies have been installed. Legacy systems are critical for firms because they serve some critical business functions. Organizations must modernize their legacy systems since it is difficult to continue using systems whose vendor services have been withdrawn. Many legacy systems lack the necessary configuration to interface with smart devices and upgraded communication networks. Integrating these legacy systems with the numerous components present in the smart public transportation ecosystem presents problems for PIS market providers. Multiple suppliers are involved in the smart public transportation ecosystem, which integrates multiple technology elements such as software, hardware, and network elements. Because of the lack of an open interface and protocol difficulties, integrating smart technology aspects with legacy transportation systems is extremely difficult. These integration problems would then result in communication gaps between traditional and technologically advanced systems. Furthermore, upgrading legacy systems necessitates significant investment. These complications are projected to limit the growth of the PIS market in the future years.
Passenger Information System Market Landscape
Technology launches, acquisitions, Partnerships, and R&D activities are key strategies adopted by players in the Passenger Information System market. In 2021, the market of Passenger Information System Market share has been fragmented by several companies. Passenger Information System top 10 companies include
- Alstom SA
- Cisco Systems Inc.
- Fujitsu Ltd.
- Funkwerk AG
- Hitachi Ltd.
- Huawei Technologies Co., Ltd.
- Indra Sistemas S.A.
- Mitsubishi Electric Corporation
- Siemens AG
- Simple way Europe
Recent Developments
In January 2021, Cubic launched Umo, a fully integrated suite of platforms for riders, transit agencies, and mobility service providers, to supplement its existing transportation technology portfolio.
In June 2020, Wabtec launched BlueFilter, an air-filtration invention, to create a clean and healthy atmosphere for metro and train passengers. By eliminating more than 90% of impurities per air cycle, the TÜV-tested filter continuously offers fresh and clean air onboard metro and railcars. BlueFilter’s design eliminates pollutants ranging in size from 0.1 to 1,000 micrometers. Allergens, bacteria, different dusts, and viruses are examples of these.
In January 2021, Alstom acquired Bombardier Transportation. Alstom will improve its leadership in the burgeoning sustainable mobility sector by attaining critical size in all geographies and integrating additional solutions and assets to better serve its clients worldwide as part of the purchase.
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Key Takeaways
In 2021, the in-station sector will have a larger market share. The usage of passenger information systems in stations is becoming increasingly common, as such displays give passengers important travel information such as arrival/departure times, platform numbers, destinations, intermediate stations, potential delays, and so on. Such displays use an open communication protocol and are sufficiently adaptable to be easily integrated into existing station management systems.
North America is estimated to grow at the fastest CAGR of 20.20% during the forecast period. The United States and Canada are the region’s leaders, with substantial breakthroughs in the creation of smart cities and transportation projects. These countries have established sustainable economic growth, allowing them to increase their investment in R&D operations and hence contribute to the development of new technologies in the Passenger Information System market.
The growing demand for intelligent public transportation systems that give passengers real-time transit information is expected to fuel the growth of the passenger information system market. As the demand for real-time passenger information grows, transportation service providers and transit agencies are introducing passenger information system systems and services to improve passengers’ travel experiences.
The evolution of the Internet of Things has facilitated the flow of information between various technological devices without the need for direct human contact. The integration of IoT platforms and PIS is expected to assist in fuel market expansion.
Relevant Report Titles:
A. Automated Passenger Counting and Information System Market (2022 – 2027)
https://www.industryarc.com/Research/Automated-Passenger-Counting-And-Information-System-Market-Research-505374
B. Railway Management System Market (2022 – 2027)
https://www.industryarc.com/Research/Railway-Management-System-Market-Research-500759
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