Market Overview
The Global Passenger Information System Market is expected to reach a value of
USD 28.1 billion in 2023, and it is further anticipated to reach a market value of
USD 77.5 billion by 2032 at a
CAGR of 11.9%.
The passenger information system uses digital &analog technology to furnish real-time, reliable details to travelers during their journey. Passengers onboard expect information on services, connections, arrival times, disruptions, & alternative routes, which ensures timely updates on journey punctuality, transmitted through screens & loudspeakers. Highly beneficial in railways & airways, it efficiently communicates journey status, improving the overall travel experience for passengers.
Market Dynamic
The growing demand for reliable & on-the-spot travel information from passengers is a key driver fueling the growth of the passenger information system market. In addition, an increasing interest in intelligent transportation systems, along with development in the telecommunications sector facilitating faster data transfer capabilities, contributes to market expansion. The growth in demand for intelligent transportation systems, integrated with the adoption of the Internet of Things (IoT), cloud computing, & big data technologies in the transportation sector, further increases global sales of passenger information systems. The significant development of transportation infrastructure globally acts as a major catalyst for market growth.
However, challenges arise from complexities in integrating with legacy infrastructure & communication networks. As the ongoing digitization in transit operations presents an opportunity to overcome these challenges. Stringent transportation regulatory policies serve as a restraint to market dynamics.
Research Scope and Analysis
By Component
In the component segment, the largest market share is held by the solution, reflecting a growing demand for both hardware & software essential for transportation infrastructure, which includes multimedia devices, communication tools, networking equipment, sensors, & routers, allowing passengers' access to information physically or remotely via mobile apps & web browsers. The passenger information system delivers diverse transit details, including live updates on public vehicle arrivals & departures, highlights vehicle delays, & issues emergency notifications. The system's development extends beyond stations or airports, reaching remote locations with vital real-time information in emergencies.
Further, the services segment is expected to show rapid growth, mainly in emerging countries like India, Brazil, & other South Asian nations, which is fueled by an increase in professional consultancy services, with vendors providing diverse support programs customized to meet specific passenger needs & requirements.
By Type
In terms of types, the information display system claims the largest market share in 2023, driven by the broader adoption of LCD & LED panels due to their compact size and affordability. Transit stations highly utilize information display systems, using interactive kiosks, TFT screens, & HMI for reliable passenger information dissemination. The constant technological developments in displays, along with the growing popularity of smartphones & handheld devices, are expected to further grow the demand for information display systems.
Further, the passenger information mobile solution emerges as the fastest-growing segment, which is propelled by the increasing number of mobile devices & smartphones, leading to a higher need for mobile-based PIS applications among passengers. Transit agencies are highly deploying mobile applications to attract passengers, providing them with reliable, quick, and live information through mobile channels. The simultaneous growth of multi-modal transit applications & the expanding mobile subscriber base are anticipated to fuel the overall growth of the passenger information system market in the forecast period.
By Mode
The market is categorized based on transportation modes, into roadways, railways, airways, & waterways. The roadway segment dominates in terms of revenue in 2023, serving as a major mode of public transport globally. The growth in vehicular traffic worldwide, along with insufficient transport infrastructure, highlights the need for efficient transportation movement management. Further, initiatives like China’s Intelligent Transport System Association & India’s Smart Cities project contribute to the growth of intelligent transport systems & traffic management, promising significant expansion for the roadway segment.
Moreover, the market is further driven by urbanization, growing public transport options like buses, trams, & railways, and development in data connectivity & transportation technology aggregators. These factors, along with enhanced public transport systems, are driving more passengers to choose public transportation, driven by rising fuel prices & the challenges of parking personal vehicles, which is expected to sustain & propel market growth in the coming future.
The Passenger Information System Market Report is segmented on the basis of the following
By Component
By Type
- Information Display System
- Passenger Information Mobile Solution
- Announcement System
- Infotainment System
- Others
By Mode
- Roadways
- Railways
- Airways
- Waterways
Regional Analysis
North America secures
a substantial market share exceeding 30.9%, owing to a strong emphasis on transportation infrastructure development & significant investments in intelligent transportation systems by both public & private sector entities. Also, Europe is expected for considerable market growth, driven by the influential presence of key players like Alstom, Siemens AG, Advantech Co., and Thales Group.
In addition, the Asia Pacific region is anticipated to experience the fastest growth, propelled by proactive government & private initiatives to digitize &upgrade information systems in public transport. China & India, as part of their smart city endeavors, have highly implemented passenger information systems, & an integrated transport ecosystem in response to growing passenger numbers and increase in international travel.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In the industry, building partnerships, strategic mergers, & acquisitions are seen as a quick route for companies to tap into emerging markets & boost their technological capabilities. In addition, companies are aiming at product differentiation & improving solutions to support development. The market is also set to benefit from the growth in transportation web aggregators & the broad use of transportation apps, contributing to sustained growth in the long term.
For instance, In November 2022, Sabre Corp, a key technology provider in the global travel industry, unveiled an extension of its enduring collaboration with Oman Air, the national airline of Oman, which includes ongoing support from Sabre in realizing Oman Air's strategic goals, which also includes a multi-year extension of their global distribution system arrangement & the renewal of Oman Air's SabreSonic Passenger Service System (PSS), solidifying their commitment to advancing air travel services & operations.
Some of the prominent players in the global Passenger Information System Market are:
- Cisco System
- Thales Group
- Advantech Co Ltd
- Siemens
- Cubic Corp
- Indra Sistemas
- Infax Inc
- TE Connectivity
- Hitachi Ltd
- Alstom
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Passenger Information System Market
The COVID-19 pandemic & the following economic recession have significantly influenced the Global Passenger Information System (PIS) market. The travel restrictions & reduced passenger mobility caused by the pandemic led to a sharp decline in the need for PIS solutions, affecting market growth. The recession further impacted budgets, making transportation authorities defer or scale back PIS investments. As the world gradually recovers, the PIS market is expected to revive, driven by a resurgence in travel & enhanced focus on improving passenger experience & safety. However, lingering economic uncertainties may continue to shape the market dynamics, showcasing the need for adaptive strategies & innovative solutions within the Passenger Information System market.
Report Details
Report Characteristics |
Market Size (2023) |
USD 28.1 Bn |
Forecast Value (2032) |
USD 77.5 Bn |
CAGR (2023-2032) |
11.9% |
Historical Data |
2017 - 2022 |
Forecast Data |
2023 - 2032 |
Base Year |
2022 |
Estimate Year |
2023 |
Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
Segments Covered |
By Component (Solution and Services), By Type
(Information Display System, Passenger Information
Mobile Solution, Announcement System,
Infotainment System, and Others), By Mode
(Roadways, Railways, Airways, and Waterways) |
Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
Prominent Players |
Cisco System, Thales Group, Advantech Co Ltd,
Siemens, Cubic Corp, Indra Sistemas, Infax Inc, TE
Connectivity, Hitachi Ltd, Alstom, and Other Key
Players |
Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Passenger Information System Market size is estimated to have a value of USD 28.1 billion in
2023 and is expected to reach USD 77.5 billion by the end of 2032.
North America has the largest market share for the Global Passenger Information System Market with a
share of about 30.9% in 2023.
Some of the major key players in the Global Passenger Information System Market are Cisco System,
Thales Group, Siemens, and many others.
The market is growing at a CAGR of 11.9 percent over the forecasted period.