- Demand for onboard solutions with real-time information enriches passenger experience in public transport system, notes TMR Study
- Opportunities in Asia Pacific passenger information system market to expand at substantial pace during forecast period; demand for SaaS-based passenger information systems (PIS) in modern transit system to fuel lucrative avenues
ALBANY, N.Y., Feb. 18, 2022 /PRNewswire/ -- SaaS-based passenger information systems (PIS) are pivoting the adoption of mobility technology solutions in modern transit systems. The delivery of real-time information offered by PIS in public transport has led to increased customer convenience, and thus boosted public confidence in transport services across all modes including rail, road, and sea. The global valuation of the passenger information system market is anticipated to reach US$ 65.3 Bn by 2030.
New platforms combine infotainment and commercial content and are enriching the value of passenger and fleet connectivity solutions in the passenger information system market. Solution providers are likely to gain steady revenue gains during the forecast period from the growing popularity of mobile passenger information system.
The use of scheduled programming technology for on-board PIS is expanding lucrative avenues, notably for railways. Transport agencies are modernizing display systems to tap into new revenue streams, notes the TMR study on the passenger information system market. The demand for entertainment on board solutions is generating profitable opportunities, notes the TMR study on the passenger information system market.
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Key Findings of Passenger Information System Market Study
- Companies Offering Innovative Onboard PIS to Tap Massive Revenues: The railway has been at the forefront of deployment of next-gen on-board PIS. These solutions have found use in a flexible management of contents notably infotainment and commercial contents. Their use is constantly advancing the scope of customer experience. GPS-based and mobile solutions of note are gaining popularity, generating substantial revenue growth for stakeholders in the passenger information system market. Integration of mobile apps with PIS is boosting the revenue possibilities.
- Public Transport System Utilize Open Data Resources: The adoption of IoT in public transit is enriching customer engagement in public transport. Companies are keenly adopting open data resources to deliver real-time information. The trend is evident in developed nations such as use of PIS in U.K. public transport.
- SaaS Solution Gain Popularity: SaaS platforms are emerging as cost-efficient solutions in the passenger information system market. Of note, subscription-based accounts are effective in ensuring flexibility in transit management. Thus, the adoption of SaaS PIS is generating incremental avenues for companies in the passenger information system market. In the near future, government agencies are expected to witness use of SaaS for public transportation software to modernize transit systems.
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Passenger Information System Market: Key Drivers
- Rapid pace of digitization of public transport industry in emerging and developed economies is driving investments in the passenger information system market
- Real-time passenger information systems are enriching customer experience across all modes of transport. Furthermore, focus on utilizing open and shared resources for data in developed nations is expanding the avenue, observe the analysts in the in-depth TMR study.
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Passenger Information System Market: Regional Growth Dynamics
- The Asia Pacific passenger information system market is projected to expand at promising pace during the forecast period, underpinned by rise in adoption of PIS. China is a highly lucrative market.
- The U.S. has witnessed potential revenues from the substantial uptake 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 a.s., Siemens AG, Mitsubishi Electric Corporation, Indra Sistemas S.A., 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
- Hardware
- Display Systems
- LCD Display
- TFT Display
- LED Display
- Kiosk
- ePaper
- Networking Systems
- Audio Communication Systems
- Software (PIM Module [Display Control and Content Management])
- PIS For Station (Fixed/Stationary)
- On-Board PIS (GPS-based, for Mobile - Train, Bus)
- Mobile PIS (Mobile Applications)
- Professional Services
- Integration & Implementation Services
- Support & Maintenance Services
Passenger Information System Market, by Mass Transit Hub
- Airport
- Rail
- Railways
- Metros
- Road
- Ports
Passenger Information System Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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