Passenger Information System Market: Introduction
The global passenger information system market is anticipated to reach US$ 65.3 Bn by 2030. The passenger information system market is projected to expand at a CAGR of ~13% from 2020 to 2030 based on revenue. According to the report, North America was a significant contributor to the passenger information system market in terms of revenue in 2019. The prominent market share of the region is due to significant adoption of passenger information systems and increasing air passenger traffic, especially in the U.S. The passenger information system market in Asia Pacific is expected to expand at a high CAGR during the forecast period. This is primarily due to the increasing government investment to improve network speed in the region.
Customer Inclination for Rich Experiences Driving Global Passenger Information System Market
Commuters are highly demanding and seeking enduring travel experiences. Real-time information about routes, connections, disruptions, etc. not only helps commuters in better planning and optimum utilization of time, but also indicates a professional set up and good reputation of transport service providers. The quality of service plays a pivotal role in influencing the commuters’ decision to opt for the same transport again. Providing real-time information to commuters is a win-win situation for both the transport service provider and commuters. This radical practice is driving the passenger information system market toward significant growth.
Passenger Information System: Market Segmentation
The global passenger information system market has been segmented in terms of component, mass transit hub, and region. Based on component, the passenger information system market has been classified into hardware, software, mobile PIS (Passenger Information System), and professional services. The hardware segment dominated the global passenger information system market in 2019 and is expected to maintain its dominance during the forecast period. The hardware segment has been further sub-divided into display systems, networking systems, and audio communication systems. The display systems segment dominated the global passenger information system market in 2019 and is expected to maintain its dominance during the forecast period.
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Passenger Information System Market: Regional Outlook
In terms of region, the global passenger information system market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the passenger information system market during the forecast period. The U.S. is projected to lead the North America passenger information system market. The U.S. market is at the forefront in terms of the adoption of mobile PIS (Passenger Information System). The passenger information system market in Asia Pacific is expected to expand at a high CAGR during the forecast period, due to increasing adoption of passenger information system in airports, metros, as well as ports across Asia Pacific. The market in Middle East & Africa and South America is also projected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global passenger information system market, thereby providing valuable insights at macro as well as micro levels. In-depth geographic analysis has also been included as part of the passenger information system market.
