The report on the global Passenger Information System (PIS) market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, key player's market share analysis, competitive landscape and supply chain analysis.
Pune, India - February 21, 2019 /MarketersMedia/ —
Market Highlights:
A passenger information system is defined as an automated system that has been designed and deployed by public transports to display information related to the departure and arrival of a transport vehicle, scheduled on a particular time interval. Market Research Future (MRFR) has published a research report about the global passenger information system market that predicts growth for this market between 2016 and 2022. In terms of value, this market has been anticipated to be worth the US $ 21 bn by the end of forecast period.
The passenger information system is a database system which stores and provides information about the public transport to the transport service customers. This information is provided by the GPS systems located on the public transport vehicles. These GPS systems help in providing real time information about the location of the vehicle and help in retaining customers for the repeat travelling by the same public transport. The real time passenger information systems are also connected with the SMS service on the mobile phones which provides timely information the travelers about their scheduled journey.
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Major Key Players
• Infax, Inc. (U.S.),
• Passio Technologies, Inc. (U.S.),
• General Electric Company (U.S.),
• Huawei Technologies Co. Ltd (China),
• DTI Group (Australia),
• Cubic Transportation Systems (U.S.),
• Siemens AG (Germany),
• Advantech Corporation (Taiwan),
• Medha Servo Drives Pvt. Ltd (India)
• Neusoft Corporation (China).
Key Findings
Global Passenger Information System Market has generated USD 6.12 billion market value in 2016 and is projected to reach market value of USD 21.39 billion by 2022 growing with 23.17% CAGR
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
“Amongst all channels of the passenger information system, the websites are the most commonly used channels. Through websites, the passengers can avail information about the transport services in the real time. The transport service providers provide information related to the departure time of the bus/ train and current location of passenger vehicles such as trains through their websites. Websites are joining their hands with Google map services to facilitate the passengers in planning their journey from beginning to end. Railways and airways have started personalized accounts on their websites by generating a user id and password, for regular customers to provide them with updates about the routes which are travelled by them regularly. This account generation also facilitates in proving benefits to passengers in terms of easy payment systems and discounts on two way journey among others. "
Segmentation:
The passenger information system market can be segmented on the basis of components, mode of transportation, services, solutions, and lastly, region. Based on components, this market has been segmented into communication devices, multimedia displays, networking devices, and sensors. Sensors are the most dominant market segment. However, during the forecast period, the networking devices segment is expected to grow at 26.48% CAGR (Compound Annual Growth Rate). Regarding the mode of transportation, the market has been segmented into airways, railways, and roadways.
The service-based segmentation segments the market into cloud services, integration services, and professional services. Integration service is the most powerful segment, and it is expected to grow at 22.27% CAGR during the forecast period. Cloud services segment is likely to emerge as the fastest growing service during the forecast period at 25.81% CAGR.
Based on a solution, the market has been segmented into display systems, emergency communication systems, information announcement system, infotainment systems, and passenger information mobile application. Worth the US $ 1.9 bn in 2016, display systems is the most dominant segment, and it is expected to witness the fastest growth at 22% CAGR.
Regional Analysis
Market Research Future Analysis shows that North America region is expected to grow with the increase in need of transport agencies to invest heavily in the passenger information system. The growth of Europe region for the passenger information system is attributed due to the shift in ticket purchasing through various POS and established automated fare collection machines. In Asia pacific region, the mobility of passengers and increasing need of accessibility to transport information is expected to drive the market.
Asia Pacific is the fastest growing regional market as it was worth the US $ 600 mn in 2016 and during the forecast period, it is expected to grow at 25% CAGR. China is the biggest country-specific market in this region while Japan is the second largest country-specific market. Among all country-specific markets in this region, India is expected to grow at 29% CAGR, emerging as the fastest growing country-specific market in Asia Pacific region. Other important country-specific markets in this region are Australia, Malaysia, Singapore, South Korea, and Thailand. Together, all these markets are expected to grow at 16% CAGR during the forecast period. The RoW segment is growing with slow growth rate held only 8% market share in 2016.
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Intended Audience
• Passenger information system providers
• Passenger information system operators
• Transit agencies
• Investors
• Research institute
• End users
List of Tables
TABLE 1 GLOBAL PASSENGER INFORMATION SYSTEM MARKET BY SOLUTION, 2016-2022
TABLE 2 GLOBAL PASSENGER INFORMATION SYSTEM_INFORMATION ANNOUNCEMENT MARKET, 2016-2022
TABLE 3 GLOBAL PASSENGER INFORMATION SYSTEM_DISPLAY SYSTEMS MARKET, 2016-2022
TABLE 4 GLOBAL PASSENGER INFORMATION SYSTEM_EMERGENCY COMMUNICATION SYSTEMS MARKET, 2016-2022
Continued…….
List of Figures
FIGURE 1 GLOBAL PASSENGER INFORMATION SYSTEM MARKET STRUCTURE
FIGURE 2 MRFR RESEARH PROCESS
FIGURE 3 GLOBAL PASSENGER INFORMATION SYSTEM MARKET: DRIVERS & RESTRAINTS
FIGURE 4 GLOBAL PASSENGER INFORMATION SYSTEM: SUPPLY/VALUE CHAIN
FIGURE 5 GLOBAL PASSENGER INFORMATION SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 6 GLOBAL PASSENGER INFORMATION SYSTEM MARKET BY SOLUTION, 2016-2022
FIGURE 7 GLOBAL PASSENGER INFORMATION SYSTEM MARKET, BY COMPONENT, 2016-2022
Continued……
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: abhishek Sawant
Organization: Market Research Future
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/passenger-information-system-market-2112
Source: MarketersMedia
Release ID: 484544
