Market Highlights:
Passenger information system also called as customer information systems and operational information systems are automated system designed to generate, maintain and convey information about transport service, through visual, text, voice and other media to end users. The global passenger information system market was valued at USD 6.12 billion in 2016 and is projected to grow at a 23.17 % CAGR during the forecast period of 2016 to 2023.
Passenger information system is an automated system designed and deployed by public transports which include roadways, airways and railways to display information related to departure and arrival of a transport vehicle, scheduled on a particular time interval. The technology advancement in transport sector drives the market of passenger information system which are available in number of forms such as LEDs, display boards, information announcement system, or passenger information mobile application. Further, the increasing concern of security at public transports and increasing urbanization is also expected to fuel the passenger information system market growth in coming years.
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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
By Solution: Display Systems is dominating the market and has generated USD 1.9 billion in 2016 and is expected to grow with fastest growing 22% CAGR.
By Component: Sensors are dominating the market and has generated market value of USD 2.63 billion in 2016. Networking devices are expected to grow with fastest growing 26.48% CAGR
By Services: Integration service is dominating the market and is projected to grow with 22.27% CAGR. Cloud services is expected to be the fastest growing service with 25.81% CAGR
By Geography, North America is dominating the Passenger Information System Market followed by Europe. Whereas Asia-Pacific is expected to be the fastest growing region in the coming years.
Market Drivers:
Explosive growth of travel and tourism, increasing concern of transports security, urbanization, growing complexity and means of travel, demand for real time information, and customer satisfaction are the prime drivers of the market. Effective management of crowd derived from passenger information system help to avoid and mitigate concerns of security especially in public transport systems is an important paradigm behind the adoption of passenger information system.
The development of analytics, advent of big data, benefits of price discovery, passenger forecasting, business and operations intelligence gained by leverage of the time data are driving greater adoption of informatics. Development of antecedents such as explosive adoption of smart devices, growing connectivity and network, falling digital divide, automated public address systems, elimination of errors resulting from manual paper work, convergence of information at a single platform and others are the technological drivers of the market.
Upgrading static information systems, which updates after a time lag with real time information systems which changes continuously is expected to drive the future market growth as they help in fore warning about an untoward event, thereby helping to take corrective action.
The developments in user interface such as LEDs, information announcement system, passenger information mobile application etc. is expected to result in rapid adoption of the passenger information system. Development of greater functionality such as surveillance, automated response to disaster or threats, capacity prediction, and others are also fuelling the market. Development of the cloud and innovative business models such as software as a service, platform as a service, and infrastructure as a service have resulted in low barriers to newer players owing to licensing and leasing which eliminates the need for upfront investment.
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Segmentation:
To generate an accurate assessment of the market, the global passenger information system market has been segmented on the basis of solutions, components, services, mode of transportation and regions.
Based on the solutions, the market has been segmented by information announcement systems, display systems, emergency communication systems, infotainment systems and passenger information mobile applications among others. Display systems accounts for the fastest growth of the market and is expected to grow with fastest CAGR of 22 %.
Based on the components, the market has been segmented by multimedia displays, networking devices, communication devices, sensors and others. Sensors accounts for the largest share of the market while networking devices are expected to generate the fastest growing 26.48 % CAGR
Based on the services, the market has been segmented by cloud, professional and integration among others. Integration service accounts for the largest share of the market and is poised to grow with 22.27 % CAGR. Cloud services is projected to generate the fastest CAGR of 25.81 %.
Based on the modes of transportation, the market has been segmented by roadways, railways and airways.
Based on the regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.
Regional Analysis
Global Passenger information system market, by region is led by North America in 2016 and has occupied 38% market share. The technological advancement and developed network architecture is expected to drive the passenger information system market in North America. Europe has successfully counted on second position in passenger information system market globally by occupying 33% market share in 2016. Asia-Pacific among all region is considered to be the fastest growing region and has occupied 21% market share in 2016 due to improvement in network infrastructure which thereby fuelling the market growth of passenger information system in the region. However, Rest of the World is growing with slow growth rate and has occupied only 8% market share in 2016.
Intended Audience
- Passenger information system providers
- Passenger information system operators
- Transit agencies
- Investors
- Research institute
- End users
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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)
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