Dublin, April 16, 2024 (GLOBE NEWSWIRE) -- The "Global Passenger Information System Market by Offering (Solutions and Services), Location (On-board and In-station), Transportation Mode (Railways (Trains and Trams), Roadways, and Airways & Waterways) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global passenger information system market is estimated at USD 29.3 billion in 2023 to USD 52.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 12.4%. The passenger information system (PIS) market aims to create a smoother and more informed travel experience. Rising passenger demand for real-time information is a major factor influencing the PIS market. It provides accurate arrival/departure times, delays, and gate changes, empowering passengers to make informed decisions, and reducing anxiety. Efficient transportation systems rely on informed passengers. 
Real-time data from PIS allows operators to optimize schedules, manage congestion, and respond promptly to disruptions, leading to smoother operations and reduced delays. Integration with mobile apps provides on-the-go access and personalized updates. Advanced features such as interactive maps, accessibility options, and infotainment options are emerging, further enhancing the travel experience. Looking ahead, artificial intelligence (AI) and the Internet of Things (IoT) are poised to revolutionize PIS. For instance, AI-powered systems predict delays, suggest alternative routes, or even provide personalized recommendations for nearby amenities during layovers.
The railways transportation mode segment is expected to hold the largest market size during the forecast period
Trains are expected to have a stronghold in the passenger information system (PIS) market during the forecast period due to their complicated networks with numerous stations and schedules. Unlike simpler transportation modes, this complexity makes real-time information such as arrival times, delays, and platform change crucial for railways. PIS fulfills this need through displays, announcements, and mobile apps, boosting passenger satisfaction and operational efficiency. Additionally, digitalization trends and heavy investments from railway authorities fuel market growth, leading to even more advanced and user-friendly PIS solutions. PIS promotes safety, generates revenue through targeted advertising, and transforms railway journeys into informed experiences contributing to the adoption of PIS solutions in railways.
The in-station segment to register the fastest growth rate during the forecast period
Real-time updates on delays, arrival times, and onward connections displayed on sleek screens or within the smartphone app empower passengers to navigate seamlessly. Passenger expectations are rising, and in-station PIS caters to this demand for personalization. This level of customization fosters a sense of ownership and elevates the overall travel experience. Emergency alerts displayed directly on the phone guide how to reach safe zones in case of unforeseen circumstances. Additionally, real-time communication with trained personnel through the system fosters a sense of security and allows for swift responses to any concerns.
Targeted advertising displayed on screens or within apps can be a lucrative source of income for railway authorities. Additionally, promoting onboard services like food and beverage options through the system presents another avenue for financial gain. This continuous investment by authorities fuels further innovation, leading to even more advanced and user-friendly PIS solutions. As the demand for a seamless and informed travel experience continues to rise, in-station PIS is poised to become an indispensable element of modern railway systems.
Asia Pacific's highest growth rate during the forecast period
Asia Pacific anticipates highest growth in the passenger information system (PIS) market during the forecast period because of rapid infrastructure development, booming urban populations, supportive government initiatives, cutting-edge technology, and cost-effectiveness. As governments invest in modernizing transportation networks and passengers demand better experiences, PIS adoption is skyrocketing across railways, airports, and bus systems. From India's Digital India push to China's high-speed rail advancements, Asia Pacific is leading the charge in PIS innovation, poised to be well-positioned in this market.
Research Coverage
The market study covers the passenger information system market size across different segments. It aims at estimating the market size and the growth potential across different segments, including solutions (display systems, announcement systems, emergency communication systems, mobile applications, infotainment systems, video surveillance systems, other solutions), services (consulting, deployment & integration, and support & maintenance), location (on-board, in-station), transportation mode (railways, roadways, airways and waterways) and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
The major players in the passenger information system market are Advantech Co., Ltd. (Taiwan), Alstom SA (France), Wabtec Corporation (US), Cisco Systems (US), Cubic Corporation (US), Siemens AG (Germany), Hitachi Ltd. (Japan), Huawei Technologies Co., Ltd. (China), Mitsubishi Electric Corporation (Japan), Televic (Belgium), ST Engineering Ltd (Singapore), Indra (Spain), Medha Servo Drives (India), Efftronics Systems Pvt. Ltd. (India), Dysten (Poland), Lunetta (India), r2p Group (Germany), Icon Multimedia (Spain), Passio Technologies (US), Teleste (Finland), Lancom D.O.O (Slovenia), Simpleway (Czech Republic), Eke-Electronics (Finland), Quester Tangent (Canada), LOT Group (Ukraine). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their passenger information system market footprint.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $29.3 Billion |
| Forecasted Market Value (USD) by 2028 | $52.6 Billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Global |
Premium Insights
- Increase in Demand for Intelligent Transportation Systems to Drive Market
- Top Growing Segments in Market in 2023
- Passenger Information System Services to Witness Faster Growth Rate During Forecast Period
- Display Systems to Lead Solutions Segment in 2023
- Deployment & Integration to be Fastest-Growing Services Segment During Forecast Period
- Railways Segment to Lead Market During Forecast Period
- Solutions and Railways to Account for Largest Segmental Shares in 2023
Market Dynamics
- Drivers
- Rise in Demand for Smart Public Transportation Systems, Including Real-Time Transit Information of Passengers
- Increase in Adoption of Handheld Devices Led to Rise in Connectivity and Usage of Advertising and Information Systems
- Advancements in Technological Solutions to Enhance Passenger Experience
- Rise in Urban Population and Traffic in Public Transportation Systems
- Restraints
- High Costs Involved in Implementing and Maintaining Passenger Information Systems
- Stringent Transportation Regulatory Policies
- Opportunities
- Adoption of IoT, 5G, and Automation Technologies to Enhance Technological Optimization
- Increase in Penetration of Cloud, Big Data, and Analytics in PIS
- Decline in Vehicle Ownership with Advancements in Mobility-as-a-Service (MaaS)
- Challenges
- Complexities in Integration Over Legacy Infrastructure and Communication Networks
- Multiple Sensors and Touchpoints Pose Data Fusion Challenges
Case Study Analysis
- Reading Buses Enhanced Travel Information and Marketing with Nimbus
- Platform Screen Door and Passenger Information System Solutions for Riyadh Metro, Kingdom of Saudi Arabia
- Passenger Information System for Railways by Dysten at Olesno Railway Station
- Huawei Helped Ruili Airlines Improve Passenger Experience with Private Cloud Platform
- Teleste Provided Stadler with Onboard System for Its Helsinki SM5 Trains
Companies Featured
- Advantech Co. Ltd.
- Alstom SA
- Wabtec Corporation
- Cisco Systems, Inc.
- Siemens AG
- Cubic Corporation
- Televic
- Huawei Technologies Co. Ltd.
- Hitachi, Ltd.
- Mitsubishi Electric Corporation
- St Engineering
- Indra
- Medha Servo Drives
- Efftronics
- Dysten
- Lunetta
- R2P
- Icon Multimedia
- Passio Technologies
- Teleste
- Lancom D.O.O.
- Simpleway
- Eke-Electronics
- Quester Tangent
- Lot Group
For more information about this report visit https://www.researchandmarkets.com/r/opcd0t
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
