Passenger Information System Market Emerging Growth Scenario with $45,717.11 Million of Industry Revenue by 2027 - Huawei Technologies Co., Ltd, Singapore Technologies Engineering Ltd., Teleste Corporation, Thales Group

The global passenger information system market was valued at US$ 19,314.66 million in 2019 and is projected to reach US$ 45,717.11 million by 2027; it is expected to grow at a CAGR of 11.5% during 2020–2027. The scope of this study involves understanding the factors contributing to the growth of the market; it also includes estimating and forecasting the revenues, conducting the market share analysis, and spotting significant market players along with their key developments.

Public transportation comprises different transit options such as buses, rail or metros, and airways and subways. Passenger information systems play vital role for those people who cannot drive or do not have access to personal vehicles. Also, these systems are quite cost-effective, safer, and sustainable solution. The rapidly rising population density is changing infrastructural set-up.in urban centers. Moreover, rise in disposable income and shift in working demographic are another factors promoting the demand for public transport across passengers.

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The COVID-19 pandemic was first reported in Wuhan, China, in December 2019. As of November 2020, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are among the worst-affected countries in terms of COVID-19 confirmed cases and reported deaths. The pandemic is hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The semiconductor industry is one of the major industries facing serious disruptions—such as office and factory shutdown, and supply chain breaks—as a result of this outbreak. The pandemic has disrupted the supply chain and production process in passenger information system.

Passenger information system are established to make communication between transit authorities and passengers to delivering real-time data regarding vehicle location, journey schedule, timely announcements, and the overall updates required by passengers. Such types of systems are used to enhance the overall experience of passengers while transit by keeping them updated along with entertaining the passengers using various infotainment systems. Such systems are interconnected set of devices deployed on platform, bus stands, subway, port and others to dissipate real-time information about bus, train or flight. Growing focus over consistent, real-time, and reliable passenger information along with rising frequency of passenger journey through public transport are driving the growth of the passenger information systems market.

In 2019, North America dominated the global passenger information system market. Also, the market in North America is likely to grow rapidly during the forecasted period. The market growth in this region is primarily attributed to the rise in production and consumption of passenger information system in developed and developing economies of North America. The US is considered to be one of the largest markets where the use of cutting-edge technology and strong network infrastructure is significantly high. The region highly contributes to the growth of the passenger information system market owing to factors such as rapid urbanization along with growing use of public transport systems. Further, the rising use of passenger information system solutions and services on large scale basis is expected to promote its growth. The increasing number of government initiatives to digitalize and upgrade the network infrastructural facilities across the public transport is also bolstering the market growth. The presence of prominent manufacturers such as Cubic Corporation, Wabtec Corporation, Cisco Systems Inc. and others is another factor that drives the growth of the market.

Report Spotlights

- Progressive industry trends in the global passenger information system market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2027
- Estimation of the demand for passenger information system across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for passenger information system
- Market trends and outlook coupled with factors driving and restraining the growth of the market
- Decision-making process by understanding strategies that underpin commercial interest with regard to the market growth
- Passenger information system market size at various nodes of market
- Detailed overview and segmentation of the market and its dynamics in the industry
- Passenger information system market size in various regions with promising growth opportunities

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