Overview
In 2019, the global passenger information system market was valued at USD 14,554.48 million; it is expected to reach USD 32,714.63 million by the end of 2026.
A passenger information system is an automated system designed and deployed by public modes of transport, including roadways, airways, and railways, to display information about the departure and arrival of a transport vehicle scheduled on a particular time interval. The technology advancement in the transport sector drives the market for passenger information systems, which are available in several forms such as LEDs, display boards, information announcement systems, or passenger information mobile applications. Furthermore, the increasing concern of security at public transports and increasing urbanization is also expected to fuel the growth of the global passenger information system market in the next few years.
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Regional Analysis
The geographic analysis of the passenger information system market has been conducted for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
North America is the major region in terms of market share in the passenger information system market. The regional market is characterized by the presence of many passenger information system providers that offer their services at a local and international level. The key driving factors for the growth of the passenger information system market in the region include rapid urbanization, the high adoption rate of IoT, and the quick adoption of innovative technologies to improve efficiency. The North American countries covered in this study are the US, Canada, and Mexico.
The US is a leading country in North America, holding the largest market share. The market in the country is mature. The key players, such as Advantech Corporation and Cubic Transportation Systems, which are based in the US, are investing in the development of passenger information systems. The passenger information system is being deployed on a large scale in the US for more than a decade. Public transportation poses a high risk of safety due to its massive reach and public nature of the service. The transit companies must ensure the safety and security of the travelers while traveling as well as their facilities, including bus stops, transit stations, and halts. Thus, public information systems, voice announcements, and bus signs are witnessing significant demand in the country.
For this study, Asia-Pacific has been categorized into—China, Japan, India, and the rest of Asia-Pacific. The region is expected to be the fastest-growing market from 2018 to 2026. This is attributed to the presence of active players in China, Japan, South Korea, India, and Hong Kong. The companies in Asia-Pacific are Huawei Technologies Co. Ltd (China), SAMSUNG (South Korea), Komachine.com, Co. (South Korea), and Mitsubishi Electric Corporation (Japan). Other key industry players operating in this market are focused on expanding their presence in the regional market by collaborating with telecommunication network providers and transportation operators. China is expected to be a leading country in the regional market.
Competitive Analysis
The key players operating in the global passenger information system market include General Electric (US), Huawei technologies co. Ltd (China), Cubic Corporation (US), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd. (India), Neusoft Corporation (China), INFAX, INC. (US), Passio Technologies, Inc. (US), DTI Group (Australia), ALSTOM (France), CAF (EGYPT), Construcciones Y Auxiliar De Ferrocarriles, S.A. (Spain), Hitachi, LTD. (Japan), and Stadler Rail AG (Switzerland).
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Segmental Analysis
The global passenger information system market has been segmented based on solution, component, services, transportation mode, and region.
By solution, the passenger information system market has been segmented into information announcement system, display system, emergency communication system, infotainment system, passenger information mobile application and others. In 2018, the display systems segment held the largest share of the market.
By component, the passenger information system market is segmented into multimedia display, networking devices, communication devices, sensors, and others. In 2018, the networking devices segment accounted for the largest share of the global market.
By services, the passenger information system market has been classified into cloud services, professional services, and integration services. In 2018, the integration services segment accounted for the largest share of the global market.
Based on transportation mode, the passenger information system market has been classified into roadways, railways, and airways. In 2018, the railways segment held the largest share of the global market.
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