Passenger Information System Market

Passenger Information System Market Size & Share - Future Growth Expectations

The global passenger information system market size is projected to grow from USD 29.3 billion in 2023 to USD 52.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 12.4%. Continued growth in the passenger information system market is fueled by several reasons including reduction in operational cost, increased efficiency and productivity, and enhanced accessibility. Passenger information systems play a significant role in modern transportation to improve passengers' travel experience by providing real-time updates on arrival and departure times, delays, disruptions, and route changes.

The Passenger Information System market is poised for substantial growth in the coming years, driven by several key factors:

  • Increasing Urbanization
  • Focus on Passenger Experience
  • Government Initiatives and Investments
  • Technological Advancements
  • Integration with Smart Transportation Networks
  • Demand for Real-Time Information
  • Urban Mobility and Sustainability Goals
  • Globalization and Urbanization

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Increasing Urbanization:

  • Rapid urbanization is leading to growing demand for efficient and reliable public transportation systems. PIS solutions play a crucial role in enhancing the passenger experience and optimizing the operation of urban transportation networks.

Focus on Passenger Experience:

  • There's a heightened emphasis on improving the overall passenger experience, including providing real-time information on schedules, routes, delays, and service disruptions. PIS solutions help meet this demand by delivering timely and accurate information to passengers.

Government Initiatives and Investments:

  • Government initiatives aimed at modernizing transportation infrastructure and promoting smart city initiatives are driving investments in PIS solutions. Public-private partnerships and government funding support the deployment of advanced PIS systems in transportation hubs and vehicles.

Technological Advancements:

  • Advances in technology, such as IoT sensors, GPS tracking, mobile apps, and digital signage, are enhancing the capabilities of PIS solutions. These technologies enable real-time data collection, integration, and dissemination, improving the efficiency and effectiveness of passenger information delivery.

Integration with Smart Transportation Networks:

  • PIS solutions are increasingly integrated with broader smart transportation networks, including traffic management systems, intelligent transit systems, and mobility-as-a-service platforms. This integration optimizes the flow of passengers, enhances safety, and reduces congestion in transportation hubs.

Demand for Real-Time Information:

  • Passengers expect access to real-time information on transportation schedules, delays, and alternative routes. PIS solutions address this demand by providing dynamic, up-to-date information through various channels, including digital displays, mobile apps, and automated announcements.

Urban Mobility and Sustainability Goals:

  • With a growing focus on sustainability and reducing carbon emissions, there's a push towards promoting public transportation as a more environmentally friendly mode of travel. PIS solutions encourage modal shifts from private vehicles to public transit by providing convenient and reliable information to passengers.

Globalization and Urbanization:

  • The increasing globalization of economies and urbanization of populations are driving the need for efficient and interconnected transportation systems. PIS solutions facilitate seamless travel experiences for passengers across different modes of transportation and geographical regions.

These growth factors collectively contribute to the expansion of the passenger information system market, as transportation authorities and operators seek to enhance the efficiency, safety, and convenience of public transportation for passengers worldwide.

Passenger Information System Market Share - Global Industry Landscape

The Passenger Information System market is characterized by the presence of several key players competing for market share. Some of the leading companies in the Passenger Information System industry include:

  • Mitsubishi Electric Corporation (Japan)
  • Huawei Technologies Co., Ltd. (China)
  • Cubic Corporation (US)
  • Dysten (Poland)
  • Lancom D.O.O (Slovenia)
  • LOT Group (Ukraine)

The global passenger information system (PIS) market is characterized by the presence of several key players, including Mitsubishi Electric Corporation, Huawei Technologies Co., Ltd., Cubic Corporation, Dysten, Lancom D.O.O, and LOT Group. These companies compete based on their technological capabilities, product offerings, and geographic reach. While Mitsubishi Electric and Huawei are prominent players with a global presence, regional players like Dysten, Lancom D.O.O, and LOT Group hold significant market share in their respective regions, contributing to the diverse landscape of the global PIS market.

Mitsubishi Electric Corporation (Japan)

  • Market Share: Mitsubishi Electric Corporation holds a significant share in the global market for various technologies, including transportation systems.
  • Key Offerings: Mitsubishi Electric offers a range of transportation solutions, including passenger information systems (PIS), railway signaling systems, and rolling stock equipment. Their PIS solutions feature real-time information displays, audio announcements, and mobile apps for enhanced passenger experience.

Huawei Technologies Co., Ltd. (China)

  • Market Share: Huawei Technologies Co., Ltd. is a major player in the global technology market, including telecommunications and smart transportation solutions.
  • Key Offerings: Huawei provides integrated smart transportation solutions, including passenger information systems, intelligent traffic management systems, and smart city platforms. Their PIS offerings leverage advanced technologies such as IoT, AI, and cloud computing to deliver real-time information to passengers and optimize transportation operations.

Cubic Corporation (US)

  • Market Share: Cubic Corporation is a prominent player in the global transportation and defense markets, offering a wide range of innovative solutions.
  • Key Offerings: Cubic Transportation Systems specializes in intelligent transportation solutions, including passenger information systems, fare collection systems, and traffic management software. Their PIS solutions feature real-time information displays, mobile apps, and interactive kiosks to improve the passenger experience.

Dysten (Poland)

  • Market Share: Dysten is a leading provider of passenger information systems and digital signage solutions, with a significant presence in Europe.
  • Key Offerings: Dysten offers a comprehensive range of PIS solutions tailored for various transportation modes, including rail, bus, and tram systems. Their offerings include dynamic displays, audio announcements, and mobile apps for passenger communication and engagement.

Lancom D.O.O (Slovenia)

  • Market Share: Lancom D.O.O is a prominent supplier of transportation solutions in Slovenia and the broader European market.
  • Key Offerings: Lancom specializes in passenger information systems and digital signage solutions for public transportation networks. Their PIS offerings include real-time information displays, audiovisual announcements, and centralized management software for efficient operation.

LOT Group (Ukraine)

  • Market Share: LOT Group is a leading provider of transportation and IT solutions in Ukraine and Eastern Europe.
  • Key Offerings: LOT Group offers a range of transportation technologies, including passenger information systems, ticketing solutions, and automated fare collection systems. Their PIS offerings provide real-time information to passengers via displays, mobile apps, and onboard announcements, enhancing the passenger experience and improving operational efficiency.

These companies play a significant role in providing innovative passenger information solutions to transportation operators worldwide, contributing to the efficiency, safety, and convenience of public transportation systems.

Related Reports:

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 - Global Forecast to 2028

Passenger Information System Market Size,  Share & Growth Report
Report Code
TC 2279
RI Published ON
4/8/2024
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