Passenger Information System (PIS) Market 2019 Challenges, Key Vendors, Drivers, Trends and Forecast to 2023Information TechnologyUpdated on Jan 31, 2019 View more like this | Visit MONTCLAIR, NJ | Contact Ashish Sharma |
Market Highlights:
A passenger information system is defined as an automated system that has been designed and deployed by public transports to display information related to the departure and arrival of a transport vehicle, scheduled on a particular time interval. Market Research Future (MRFR) has published a research report about the global passenger information system market that predicts growth for this market between 2016 and 2022. In terms of value, this market has been anticipated to be worth the US $ 21 bn by the end of forecast period.
The major factor supporting the running gear market growth is technological advancement in the transport sector. Other important factors driving the market include increasing concern of security at public transports, growing demand for video surveillance applications, increasing urbanization, the necessity of video analytics for public transport, need for the proper crowd control system, increasing traffic in public transits, and lastly, growing bomb scares & hijacking threats. However, the factors that can hinder the market growth are the high cost of components and technical limitations.
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Major Key Players
- Infax, Inc. (U.S.),
- Passio Technologies, Inc. (U.S.),
- General Electric Company (U.S.),
- Huawei Technologies Co. Ltd (China),
- DTI Group (Australia),
- Cubic Transportation Systems (U.S.),
- Siemens AG (Germany),
- Advantech Corporation (Taiwan),
- Medha Servo Drives Pvt. Ltd (India)
- Neusoft Corporation (China).
Key Findings
Global Passenger Information System Market has generated USD 6.12 billion market value in 2016 and is projected to reach market value of USD 21.39 billion by 2022 growing with 23.17% CAGR
Industry News
The Metra Board of Directors has approved a contract with Clever Devices Ltd. for a new state-of-the-art global positioning system (GPS) tracking and passenger announcement system, in order to improve the passenger experience. 13 DEC 2018
GoldSeat introduced a new service line in order to add safety, control and live features under the flagship of ‘GoldLiv.’ This service offers passenger information system that keeps passengers abreast with information such as arrival announcements, breaking news, destination estimated time of arrival (ETAs), weather updates, and What’s Playing on GoldSeat along with the living cockpit view of the bus. 10 JAN 2019
Segmentation:
The passenger information system market can be segmented on the basis of components, mode of transportation, services, solutions, and lastly, region. Based on components, this market has been segmented into communication devices, multimedia displays, networking devices, and sensors. Sensors are the most dominant market segment. However, during the forecast period, the networking devices segment is expected to grow at 26.48% CAGR (Compound Annual Growth Rate). Regarding the mode of transportation, the market has been segmented into airways, railways, and roadways.
The service-based segmentation segments the market into cloud services, integration services, and professional services. Integration service is the most powerful segment, and it is expected to grow at 22.27% CAGR during the forecast period. Cloud services segment is likely to emerge as the fastest growing service during the forecast period at 25.81% CAGR.
Based on a solution, the market has been segmented into display systems, emergency communication systems, information announcement system, infotainment systems, and passenger information mobile application. Worth the US $ 1.9 bn in 2016, display systems is the most dominant segment, and it is expected to witness the fastest growth at 22% CAGR.
Regional Analysis
The regional segmentation of the passenger information system market segments the market into regional markets namely North America, Asia Pacific, Europe, and the rest of the world (RoW). North America is the foremost regional market as it holds a 38% share in the global market. In this region, the market is growing due to the developed network architecture and technological advancement. The strongest economies in this region are the USA and Canada. Europe is the second largest regional market as it held 33% of the market share in 2016. In this region, the strongest economies are France, Germany, and the UK.
Asia Pacific is the fastest growing regional market as it was worth the US $ 600 mn in 2016 and during the forecast period, it is expected to grow at 25% CAGR. China is the biggest country-specific market in this region while Japan is the second largest country-specific market. Among all country-specific markets in this region, India is expected to grow at 29% CAGR, emerging as the fastest growing country-specific market in Asia Pacific region. Other important country-specific markets in this region are Australia, Malaysia, Singapore, South Korea, and Thailand. Together, all these markets are expected to grow at 16% CAGR during the forecast period. The RoW segment is growing with slow growth rate held only 8% market share in 2016.
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Intended Audience
- Passenger information system providers
- Passenger information system operators
- Transit agencies
- Investors
- Research institute
- End users
List of Figures
FIGURE 1 GLOBAL PASSENGER INFORMATION SYSTEM MARKET STRUCTURE
FIGURE 2 MRFR RESEARH PROCESS
FIGURE 3 GLOBAL PASSENGER INFORMATION SYSTEM MARKET: DRIVERS & RESTRAINTS
FIGURE 4 GLOBAL PASSENGER INFORMATION SYSTEM: SUPPLY/VALUE CHAIN
FIGURE 5 GLOBAL PASSENGER INFORMATION SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 6 GLOBAL PASSENGER INFORMATION SYSTEM MARKET BY SOLUTION, 2016-2022 (USD MILLION)
FIGURE 7 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY COMPONENT, 2016-2022 (USD MILLION)
FIGURE 8 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY SERVICES, 2016-2022 (USD MILLION)
FIGURE 9 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY TRANSPORTATION MODE 2016-2022 (USD MILLION)
Continued……
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