The global passenger information system market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.51% during 2023-2028.
A passenger information system acts as a communication link between a transit agency and passengers. Also known as a customer information system, it provides real-time data of public transport through voice, visual or other media to users. It helps in tracking details of scheduling, entertainment, news broadcasts, and emergency communication services. Besides this, it assists passengers in attaining relevant information about the status of different transportation mediums and enables them to plan their journeys better, which further increases passenger comfort and satisfaction.
The escalating demand for reliable and accurate real-time transit information by passengers represents one of the key factors propelling the passenger information system market growth. Apart from this, a rise in the demand for intelligent transportation systems, in confluence with advancements in the telecommunication sector to enable faster data transfer capabilities, is also fueling the market growth. Moreover, an increase in demand for intelligent transportation systems and a surge in the adoption of the Internet of Things (IoT), cloud and big data technologies in the transportation sector are driving the sales of passenger information systems across the globe. At present, due to a significant rise in the cases of the coronavirus disease (COVID-19), lockdowns have been imposed by governments of various countries. They are promoting the adoption of social distancing measures to avoid the spread of the pandemic, which is negatively impacting the market growth. However, the market is anticipated to experience growth once normalcy is regained.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global passenger information system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on mode of transport, component, system type and location.
Breakup by Mode of Transport:
Breakup by Component:
Hardware and Software
Breakup by System Type:
Networking and Communication Devices
Video Surveillance Systems
Content Management System
Breakup by Location:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Advantech Co. Ltd., Cisco Systems Inc., Cubic Corporation, Hitachi Ltd., Huawei, Indra Sistemas S.A., Infax Inc., Mitsubishi Electric Corp., Passio Technologies, Siemens and Teleste Oyj.
Base Year of the Analysis
Mode of Transport, Component, System Type, Location, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Advantech Co. Ltd., Cisco Systems Inc., Cubic Corporation, Hitachi Ltd., Huawei, Indra Sistemas S.A., Infax Inc., Mitsubishi Electric Corp., Passio Technologies, Siemens and Teleste Oyj
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Key Questions Answered in This Report
The global passenger information system market was valued at US$ 23.8 Billion in 2022.
We expect the global passenger information system market to exhibit a CAGR of 11.51% during 2023-2028.
The rising adoption of passenger information systems, as they assist individuals in attaining relevant information regarding the status of various transportation mediums and enable them to plan their journey in advance conveniently, is primarily driving the global passenger information system market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary restrictions on intra- and inter-national travel activities, thereby negatively impacting the global market for passenger information system.
Based on the mode of transport, the global passenger information system market has been segmented into airways, railways, and roadways, where airways currently hold the majority of the total market share.
Based on the component, the global passenger information system market can be divided into hardware and software and services. Currently, hardware and software exhibits a clear dominance in the market.
Based on the system type, the global passenger information system market has been categorized into multimedia displays, audio systems, computing systems, networking and communication devices, video surveillance systems, content management system, and others. Among these, multimedia displays currently account for the majority of the global market share.
Based on the location, the global passenger information system market can be segregated into on board and in station. Currently, in station holds the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global passenger information system market include Advantech Co. Ltd., Cisco Systems Inc., Cubic Corporation, Hitachi Ltd., Huawei, Indra Sistemas S.A., Infax Inc., Mitsubishi Electric Corp., Passio Technologies, Siemens, and Teleste Oyj.
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