Passenger Information Systems Market to Surpass US$65.3 Billion by 2030; Remarks TMR study
ALBANY, NY, February 18, 2022 /PRNewswire/ — SaaS-based passenger information systems (PIS) are driving the adoption of mobility technology solutions in modern mass transit systems. The provision of real-time information offered by SIP in public transport has led to greater convenience for customers and thus enhanced public confidence in transport services in all modes, including rail, road and sea. The overall valuation of the passenger information systems market is expected to reach US$65.3 billion by 2030.
New platforms combine infotainment and commercial content and enrich the value of passenger and fleet connectivity solutions in the passenger information systems market. The solution providers are expected to earn steady revenue over the forecast period from the growing popularity of mobile passenger information system.
The use of programmed programming technology for on-board SIPs opens lucrative avenues, especially for railways. Transportation agencies are modernizing display systems to tap into new revenue streams, notes the TMR study on the passenger information systems market. The demand for in-flight entertainment solutions is generating profitable opportunities, notes the TMR study on the passenger information systems market.
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Key Findings from Passenger Information System Market Research
- Companies offering innovative embedded PIS to harness massive revenue: The railway has been at the forefront of rolling out next-generation in-vehicle PIS. These solutions have found application in flexible content management including infotainment and commercial content. Their use constantly advances the scope of the customer experience. GPS and mobile solutions are gaining popularity, generating substantial revenue growth for players in the passenger information system market. Integrating mobile apps with PIS increases revenue opportunities.
- The public transport system uses open data resources: Adoption of IoT in public transport enriches customer engagement in public transport. Businesses are keenly embracing open data resources to provide real-time insights. The trend is evident in developed countries, such as the use of SIP in UK public transport.
- The SaaS solution is gaining popularity: SaaS platforms are emerging as cost-effective solutions in the passenger information systems market. It should be noted that subscription accounts are effective in providing flexibility in the management of public transport. Thus, the adoption of SaaS PIS generates additional opportunities for companies in the passenger information system market. In the near future, government agencies are expected to witness the use of SaaS for public transport software to modernize mass transit systems.
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Passenger Information System Market: Key Drivers
- The rapid pace of digitalization of the public transport industry in emerging and developed economies is driving investment in the passenger information system market
- Real-time passenger information systems enrich the customer experience in all modes of transport. Additionally, the emphasis on using open and shared resources for data in developed countries broadens the way, analysts observe in TMR’s in-depth study.
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Passenger Information Systems Market: Regional Growth Dynamics
- the Asia Pacific The passenger information system market is expected to grow at a promising pace over the forecast period, supported by the rise in adoption of PIS. China is a very lucrative market.
- The United States has recorded potential revenue from the substantial adoption of PIS in air transport.
Passenger Information System Market: Key Players
Some of the key players in the passenger information system market are Thales Group, Televic Group NV, Teleste Corporation, Simpleway Europe as, Siemens AG, Mitsubishi Electric Corporation, Indra Sistemas SA, Huawei Technologies Co., Ltd., Hitachi Ltd., Funkwerk AG, Fujitsu Ltd. and Cisco Systems Inc.
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Global Passenger Information System Market: Segmentation
Passenger Information System Market, By Component
- Display systems
- LCD display
- TFT display
- LED display
- Networking systems
- Audio communication systems
- Software (PIM Module [Display Control and Content Management])
- PIS for station (fixed/stationary)
- Onboard PIS (based on GPS, for mobile – train, bus)
- Mobile SIPs (mobile applications)
- Professional services
- Integration and Implementation Services
- Support and maintenance services
Passenger Information System Market, by Mass Transit Hub
Passenger Information System Market, By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
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