Uploaded on Feb 1, 2021
Global Passenger Information System Market is expected to reach USD 32,714.6 Million by 2026, registering a 12.4% CAGR during the study period, 2020–2026
Passenger Information System Market Size
Market Highlights The surge in international tourism and trade is predicted to benefit the passenger information system market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. The market is estimated to perceive a steady CAGR growth in the course of the forecast period. The necessity to ensure crowd control in public transportation systems particularly is estimated to help the expansion of the passenger information system market in the forecast period. The surge in technology implementation in the transportation sector around the world is estimated to create favorable momentum for the passenger information system market in the impending period. Segmentation: The segmental examination of the passenger information system market size has been segmented on the basis of components, solutions, services, regions, and mode of transportation. The solution- based segmentation of the passenger information system market comprises of infotainment systems, display systems, information announcement systems, emergency communication systems, and passenger information mobile applications, among others. The component-based segmentation of the passenger information system market consists of communication devices, networking devices, sensors, multimedia displays, and others. Based on the services, the passenger information system market is segmented into professional, cloud, and integration, among others. The segmentation of the passenger information system market based on modes of transportation consists of roadways, railways, and airways. Based on the regions, the passenger information system market is segmented into North America, Europe, APAC, and the rest of the world. Detailed Regional Analysis The regional assessment of the passenger information system market encompasses regions such as North America, Europe, APAC, and the rest of the world. The passenger information system market by region was headed by the North American region in 2016 and had occupied a 38% market stake. The technical progression and developed network architecture are anticipated to compel the passenger information system market in the North American region. The European region has productively gained the second position in the passenger information system market internationally by gaining a 33% market share in 2016. The Asia-Pacific region among all regions is considered to be the top increasing region. It gained a 21% market share in 2016 owing to the development in network infrastructure, which in so doing is fuelling the market augmentation of the passenger information system in the region. On the other hand, the remainder of the regions in the world are increasing with a sluggish growth rate and had taken only an 8% market share in 2016. Competitive Analysis The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a crucial role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The competition in the market is manageable, which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period. The well-known players in the passenger information system market are Passio Technologies, Inc. (U.S.), Infax, Inc. (U.S.), Huawei Technologies Co. Ltd (China), Siemens AG (Germany), DTI Group (Australia), Cubic Transportation Systems (U.S.), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd (India), General Electric Company (U.S.), and Neusoft Corporation (China).
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