MARKET OVERVIEW:
The global passenger information system market is expected to see substantial growth from USD 29.2 billion in 2024 to USD 69.0 billion by 2033, driven by urbanization, government investments in public transport, and advancements in technologies like IoT, AI, and big data analytics. The increasing demand for efficient and real-time transit systems to improve passenger experience is propelling the market forward, with a projected CAGR of 9.55% from 2025 to 2033.
STUDY ASSUMPTION YEARS:
- BASE YEAR: 2024
- HISTORICAL YEAR: 2019-2024
- FORECAST YEAR: 2025-2033
PASSENGER INFORMATION SYSTEM MARKET KEY TAKEAWAYS:
- The market is forecasted to grow from USD 29.2 billion in 2024 to USD 69.0 billion by 2033, growing at a CAGR of 9.55%.
- Government investments in public transportation are enhancing transit infrastructure and spurring market demand.
- Increasing urbanization and smart city initiatives are driving the adoption of advanced passenger information systems.
- North America is a key market due to robust infrastructure and high adoption rates.
- Real-time data integration and predictive analytics are pivotal trends in enhancing passenger experience.
- Rising public transport use is boosting the demand for efficient information systems globally.
MARKET GROWTH FACTORS:
Urbanization and Smart City Initiatives:
Passenger Information Systems-Globalization and Emerging Economy Impact In the Urbanization Trend Along with the Smart Cities Projects has Increased in Demand Significantly. With cities becoming increasingly complex to travel across, while transportation networks require real-time, efficient systems for manageable passenger traffic into public infrastructures, it increases in emerging economies as rapid population growth continues to drive the need for more intelligent and smarter urbanism solutions.
Government Investments in Public Transport:
Across the globe, governments today are prioritizing investments in public transport systems, recognizing their need for sustainable urban development. A case in point is in 2024 where the U.S. Department of Transportation made huge allocations for a betterment of transit infrastructure focusing modernizing fleets so as to reduce air pollution and improve service reliability. At the same time, since such advanced PIS are being integrated into the mobility concepts of the governments, it is expected to result in smooth and efficient transportation systems, making public transport attractive and accessible, thus globally fueling the market growth.
Rising Public Transportation Use:
Another driving force for the growth of the passenger information systems market is the increasing dependence of citizens in cities on public transport. Cities like Greater Manchester plan to see half of all journeys to be taken by public transport by 2040. Thus, the need for such systems, which provide real-time information, becomes even more critical. These systems do not only give timely updates on traveling but even reduce the commuters’ anxiety about schedules and transfers, meaning more people will be inclined to use public transport. Demand for such PIS solutions will thus continue to grow globally as this trend progresses.
MARKET SEGMENTATION:
- Mode of Transport:
- Airways: PIS solutions tailored for airports and airlines to provide real-time flight information, delays, and gate information.
- Railways: PIS in railways enhances passenger experience by providing schedule updates and train position tracking.
- Roadways: Focus on real-time bus tracking and updates for road transport systems.
- Component:
- Hardware and Software: Includes the physical devices and the software systems that power the PIS solutions.
- Services: Encompasses the support and maintenance services associated with PIS systems.
- System Type:
- Multimedia Displays: Provides visual information to passengers on transit routes, schedules, and alerts.
- Audio Systems: Transmit announcements and updates through speakers.
- Computing Systems: Power and manage all the data processing for the system.
- Networking and Communication Devices: Ensure connectivity and smooth communication across all points.
- Video Surveillance Systems: Enhance security by providing real-time video feeds.
- Content Management System: Manages all the information displayed and broadcasted to passengers.
- Others: Includes other specialized systems that contribute to the PIS infrastructure.
- Location:
- On Board: Systems implemented within vehicles, such as trains or buses.
- In Station: Systems deployed at transportation hubs like stations or terminals to keep passengers informed.
- BREAKUP BY REGION:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
REGIONAL INSIGHTS:
North America ruling the global passenger information system market because of big urban infrastructure and transportation technology investments. Another factor is its strong transportation network and increased adoption of advanced passenger information solutions. Highly integrated smart technologies like IoT and cloud-based developed to public transit in the U.S. and Canada create a key region to develop in this market.
RECENT DEVELOPMENTS & NEWS:
More and more investments are now being made public transport, U.S. government allocation for improving transit services was about $1.5 billion under the Biden administration initiative toward infrastructure improvement for 2024. Advances in public transport reliability and sustainability propel further acceptance of passenger information systems. Also increasing is the trend toward cloud-based solutions as cities and transport authorities look for cost-effective, scalable solutions to manage increasingly complex transportation networks.
KEY PLAYERS:
Advantech Co. Ltd., Cisco Systems Inc., Cubic Corporation, Hitachi Ltd., Huawei, Indra Sistemas S.A., Infax Inc., Mitsubishi Electric Corp., Passio Technologies, Siemens, Teleste Oyj, etc.
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