Passenger Information System Market by Component, Solutions, and Mode of
Transportation: Global Opportunity Analysis and Industry Forecast,
20182025, the global passenger information system market was valued at
$13,703 million in 2016, and is projected to reach at $45,679 million by 2025,
growing at a CAGR of 14.60% from 2018 to 2025.
Rise in demand for real-time transit
information solutions for the passengers, increased adoption of smartphones,
increased penetration of IoT solutions in transportation sector, and
advancements in telecommunication offerings are anticipated to drive the growth
of the global passenger information system market. In addition, surge in
adoption of cloud and big data technologies is expected to create lucrative
opportunities for the growth of the market. However, high cost associated with
implementation, managing the passenger information and dearth of advanced
infrastructure facilities among the developing economies of Asia-Pacific and
LAMEA for installing these systems are anticipated to hamper the market growth
during the forecast period.
Based on mode of transportation segment, the
roadway segment led the passenger information system market in 2016, and is
projected to maintain its dominance in the future. However, the railway segment
is expected to witness the highest growth, owing to its increased need of
passenger information system to provide accurate and reliable updates to
railway passengers before and throughout their journey.
The global passenger information system market
was led by the North America in 2016, and is projected to maintain its
dominance during the forecast period. However, the Asia-Pacific is anticipated
to witness the fastest growth, registering a CAGR of 20.20% during the forecast
period.
Key Findings of the
Passenger Information System Market
The services segment is expected to exhibit
significant increase in terms of revenueduring the forecast period.
In 2016, the roadway segment accounted for the
highest revenue among the other modes of transportation.
Passenger information display system generated
the highest revenue in 2016.
Asia-Pacific is projected to exhibit
substantial growth during the forecast period.
Some of the key
players operating in the passenger information system market include Alstom,
Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation,
Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation,
Thales, and Toshiba Corporation.
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