"Overview of Passenger Information System Market"
Global Passenger Information System Market was valued at US$ XX Mn in 2018 and it is Expected to Reach More than US$ XX Mn by 2027, Likely to Grow with the CAGR of 9.12% During the Forecast Period.
A passenger information system is an electronic information system designed and installed by public transports including roadways, airways, and railways in order to display information associated to real-time vehicle location, arrival and departure of a transportation vehicle, program of journey, and timely notices. Moreover, these systems focus on development of the transportation capability for passengers through engaging the passengers with infotainment systems.
Rise in Adoption of Cloud & Big Data Technologies is anticipated to drive the demand for Passenger Information System Market
Increase in demand for transportation agencies to supply accurate and reliable real-time transit information to passengers, technological-advancements within the telecom industry to facilitate faster data transfer competencies, surge in demand for intelligent transportation systems and increase in IoT implementation in transit sector are the key drivers propelling the expansion of passenger information system market. Moreover, increase in adoption of massive data and cloud technologies is anticipated to deliver significant opportunities for passenger data system market growth. Cloud computing is adopted for the automation of various modes of transportation, especially railways. The passenger data system utilizes cloud computing technology to trace the position of buses within the area and calculate the time of arrival to be displayed on the real-time data system at the stop. Cloud technology and data analytics solutions aid in providing high efficiency during an allocating resource and monitoring the passenger population in a cost-effective manner.
By Mode of Transport, Railways Segment is Expected to Register Highest Market Share during the Forecast Period.
The global passenger data system market is segmented by mode of transport into airways, railways, roadways, out of which, railways segment is anticipated to hold the biggest market share on the rear of development of latest railway projects, which can require the deployment of passenger information systems, including favorable growth projections for several new metro railway lines alongside conventional railway lines. Additionally, growing utilization of PIS in smart railways projects, the market which was valued at USD XX million in 2018 and is anticipated to realize a CAGR of 14.7% by 2027 with a market price reaching USD XX million, is predicted to drive the expansion of the worldwide PIS market.
The market in North America held a Significant Market Share in 2018.
By geography, the Payment Gateways market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is anticipated to hold the largest market share on the rear of greater focus to develop transportation medium alongside high investments being made by private and public sectors for transportation. Additionally, Asia Pacific is anticipated to realize significant market share on the rear of growing investments for brand new metro railway projects within the region, and new metro system openings observed per decade within the entire region. Consistent with UITP, 33 numbers of metro system opening (per decade) was observed in the Asia Pacific region during the last decade 2010-19.
Key industry players such as Avanquest lstom, GE Transportation, Hitachi, Ltd., Huawei Technologies Co., Ltd., Cubic Corporation, Infax, Inc., Passio Technologies, Siemens AG, Advantech Co., Ltd., and Neusoft Corporation, among others.
By Device Type
- Computer & Video Games
- Digital Television
- Education Institutes
- North America
- Latin America
- Asia- Pacific
- Middle East and Africa