Passenger Information System Market

Passenger Information System Market Statistics: 2025

Passenger information system market acts as the communication link between a transit agency and passengers. It enables to deliver information related to real-time vehicle location & status updates, schedule of journey, and timely announcements. Along with these functionalities, it focuses on improvement of the transit experience for passengers by entertaining the passengers through infotainment systems. Moreover, these systems can be deployed on platform and inside the transportation vehicle such as bus/train/flight. Passenger information system market was valued at $13,703 million in 2016, and is expected to hit at $45,679 million by 2025, growing at a CAGR of 14.60% from 2018 to 2025.

Rise in demand for transit agencies to deliver reliable and accurate real-time transit information to passengers drives the growth of the passenger information system market. Furthermore, advancements in the telecommunication sector to enable faster data transfer capabilities, surge in IoT adoption in transportation sector, and increase in demand for intelligent transportation systems are the major factors responsible for the growth of the market. In addition, rise in adoption of cloud and big data technologies is expected to provide lucrative opportunities for the market growth. However, high cost associated with implementation and management of these system impedes the growth of this market.

The roadway segment led the market in 2016, and is expected to dominate in the near future. However, the railway segment is expected to grow at a significant pace during the forecast period. Furthermore, Asia-Pacific is expected to show high growth rate, as it experiences the highest demand for passenger information system.

The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porters Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

Segment review

The global passenger information system market is segmented based on component, solutions, mode of transportation, and geography. By component, the market is divided into hardware, software, and services. On the basis of solution, it is categorized into information display system, announcement systems, infotainment systems, passenger information mobile applications, and emergency communication systems. Depending on mode of transportation, it is fragmented into airway, railway, and roadway. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global passenger information system market is dominated by the key players such as Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, and Toshiba Corporation.

Top impacting factors

Increase in demand by passengers for accurate real-time transit information, advancements in telecommunication sector to offer faster data transfer, and rise in adoption of cloud & big data technologies among transportation sector drive the demand for PIS market. However, dearth of advanced infrastructure facilities to install passenger information system and high cost associated with implementation of these systems hamper the market growth.

Increased adoption of smartphones

Mobile application-based passenger information systems are rapidly gaining traction due to increased penetration of smartphones. Furthermore, around 5.3 billion unique mobile subscribers were registered in June 2018 with the Y-o-Y growth of around 3.5%. In addition, transit agencies are focusing on mobile applications of PIS to attract the passengers and provide them with quick and reliable real-time information through smartphone channel. Moreover, emergence of multi-modal transit app for public transport is opportunistic for the growth of the market.

Rise in adoption of cloud & big data technologies

Cloud computing is adopted for the automation of different modes of transportation, especially railways. The passenger information system utilizes cloud computing technology to track the position of buses in the area and calculate the arrival time to be displayed on the real-time information system at the bus stop. Cloud technology and data analytics solutions aid in providing high efficiency in allocating resources and monitoring the passenger population in a cost-effective manner.

Dearth of advanced infrastructure for installing passenger information system

The lack of advanced and technologically updated system infrastructure is hindering the growth of passenger information system market. In some underdeveloped regions of Africa and Asia, the conditions of roads and transportation facilities are still in the development stage. In addition, lack of awareness, usage of legacy systems, and poor internet connectivity in the underdeveloped nations restrict the deployment and usage of passenger information systems.

High cost of implementation

Passenger information systems have complex operational procedures due to integration of associated additional components. This adds to the overall cost for the information system, owing to the complications associated with installation and cost of hiring experienced and skilled professionals of PIS market. These systems require regular maintenance checks to ensure the functionality and reliability of the system, which results in extra maintenance cost that impedes the growth of the market.

Key Benefits

• This study includes the analytical depiction of the global passenger information system market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities.
• The current market is quantitatively analyzed from 2016 to 2025 to highlight the financial competency of the industry.
• Porters Five Forces analysis illustrates the potency of buyers & suppliers in the global passenger information system industry.

 Passenger Information System Market Report Highlights