Passenger Information System (PIS) Market Is Estimated To Grow By A CAGR Of 26.4% From 2016 To 2022
Passenger Information System Market, By Solution (Information Announcement Systems, Display Systems), By Components (Multimedia Displays, Networking Devices, Sensors) By Services (Cloud, Professional, Integration) – Forecast 2022
Pune, India – February 20, 2017 /MarketersMedia/ —
Market Highlights
Passenger Information System Market is expected to grow at CAGR of ~26.4% during the forecast period and expected to reach market size of US ~$37.5 Billion by the end of forecast period. Rapid increase in average number of vehicles worldwide, is leading to traffic congestions. Therefore, to save travel time, the passengers are opting for public transport services which provide them with real time information using Passenger Information System. Certain facilities such as public announcement for public transports, mobile applications for the information related to the journey and price of tickets, emergency notification and others which are provided by the passenger information system are contributing to the growth of this market.
Passenger information systems are being introduced for addressing the needs of fast changing travel environment for buses, trains and other modes of transport. Passenger information system is an effective investment for transporters to offer greater convenience to passengers and offer personalized services to its regular passengers. Implementation of passenger information system will benefit the transport service providers in the long run by ensuring profits. The passenger information system is facilitating the effective scheduling of transport vehicles and delivery of the related data scheduling to the travelers as compared to the manual methods. The passenger information system helps in saving time and cost for both the service providers and the customers.
Key Players
• Infax, Inc. (U.S.)
• Passio Technologies, Inc. (U.S.)
• General Electric Company (U.S.)
• Huawei Technologies Co. Ltd (China)
• Cubic Transportation Systems (U.S.)
• Medha Servo Drives Pvt. Ltd (India)
• Siemens AG (Germany)
• Advantech Corp. (Taiwan)
• Televic Rail NV (Belgium)
• Neusoft Corporation (China)
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Market Research Analysis:
Market Research Future Analysis shows that the passenger information system provides information to passenger both at station and on vehicle. At stations the passengers are provided with information related to the arrival time of vehicle, the route and destination of the vehicle. The passengers can also know the delays in timing of buses, trains or flights by using the passenger information system. With the help of these information it become easier for passengers to plan their journey effectively. When on vehicle, the passenger gets information regarding the upcoming stations and is also about the addition services by the transport service providers. By the help of all the above information it helps in creating a good customer experience and also generates a repetitive business for the transport providers.
Geographically, North America is expected to dominate the passenger information system market with the increasing adoption of public transports in the region. The Europe region is expected to grow due to various government initiatives and its investments in the Passenger Information System (PIS). Asia Pacific region is estimated to witness growth due to the raising standard of living and the increasing awareness about use of internet for availing public transport facilities.
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Intended Audience:
• Passenger information system providers
• Passenger information system operators
• Transit agencies
• Investors
• Research institute
• End users
Passenger Information System Market
The global PIS Market has been segmented on the basis of solutions, components, services and mode of transportation. Solutions comprises of information announcement systems, display systems, emergency communication systems, infotainment systems and passenger information mobile applications among others. Components include multimedia displays, networking devices, communication devices, routers, sensors and others. Services are cloud, professional and integration among others. The modes of transportation are roadways, railways and airways.
Related Report
Real-Time Locating Systems Market is expected to reach at market size of ~$6 billion by the end of forecast period with CAGR of ~28% between 2016 and 2022 https://www.marketresearchfuture.com/reports/real-time-locating-systems-market
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Source: MarketersMedia
Release ID: 171333
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