Passenger Information System Market Analysis, Size, Share, Growth, Trends, and Forecast by 2031

The Passenger Information System Market size is projected to reach US$ 67.89 billion by 2031 from US$ 29.56 billion in 2023. The market is expected to register a CAGR of 11.0% in 2023–2031. Growing technological advancements are likely to remain key passenger information system market trends.

Passenger Information System Market Analysis

The demand for passenger information systems has grown as a result of several factors, including an increase in air traffic, a rise in the adoption of intelligent transportation systems, an increase in the penetration of IoT solutions in the transportation sector, and an increase in passenger demand for real-time transit information. Additionally, the market for passenger information systems is anticipated to benefit from the increase in demand for all travel-related information, from journey planners to variations in projected departure times. Moreover, it is projected that increased awareness among transit agencies about providing customers with an improved travel experience will spur market expansion.

Passenger Information System Market Overview

The purpose of a passenger information system is to give passengers up-to-date information via audio, video, and media devices on the condition and type of transportation services. It consists of a collection of hardware and IT components. It also provides news and entertainment services, as well as details on the expected time of arrival and departure, all of which contribute to an improved travel experience. The passenger information system market is expanding due to the growing need for transit agencies to provide passengers with accurate and dependable real-time transit information. Furthermore, the market is expanding due to developments in the telecommunications industry that enable quicker data transfer capabilities, a surge in the adoption of IoT in the transportation sector, and an increase in demand for intelligent transportation systems.

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Passenger Information System Market: Strategic Insights

Market Size Value in	US$ 19,314.66 Million in 2019
Market Size Value by	US$ 45,717.11 Million by 2027
Growth rate	CAGR of 11.5% from 2020-2027
Forecast Period	2020-2027
Base Year	2020

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Passenger Information System Market Drivers and Opportunities

Increased adoption of smartphones

Because smartphone usage is rising, mobile application-based passenger information systems are gaining popularity quickly. Furthermore, transportation agencies are concentrating on passenger information system mobile applications to draw in customers and give them access to fast, accurate, real-time information via smartphone channels. Also, the rise of multi-modal transit applications for public transportation presents an opportunity for market expansion.

Growing usage of big data and cloud technologies

Railroads, in particular, are using cloud computing to automate many forms of transportation. Using cloud computing technology, the passenger information system tracks the whereabouts of buses in the vicinity. It determines the arrival time, which is then shown on the real-time information system at the bus stop. The utilization of cloud technology and data analytics solutions contributes to the efficient allocation of resources and economical passenger population monitoring.

Passenger Information System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the passenger information system market analysis are component, location, mode of transportation, and functional model.

• Based on component, the passenger information system market is divided into solutions and services. The solution segment held a larger market share in 2023.
• By location, the market is segmented into on-board and in-station. The on-board segment held the largest share of the market in 2023.
• In terms of mode of transportation, the market is bifurcated into roadways, railways, waterways, and airways. The roadways segment dominated the market in 2023.
• By functional model, the market is segmented into multimedia displays, audio systems, computing systems, networking and communication devices, video surveillance, and content management systems.

Passenger Information System Market Share Analysis by Geography

The geographic scope of the passenger information system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America controlled the global market for passenger information systems. Additionally, during the projected time, the North American market is probably going to increase at a high pace. The primary factor driving market expansion in this area is the increase in both production and consumption of passenger information systems in North America's developed and developing economies. The PIS is regarded as one of the biggest markets, with a notably high usage of state-of-the-art technology and robust network infrastructure. The area has a significant impact on the expansion of the passenger information system market due to elements including the increased use of public transit and the fast pace of urbanization. Additionally, it is anticipated that the growing use of passenger information system services and solutions will foster its expansion. All these factors contribute to the region's growth of the passenger information system market.

Passenger Information System Market Report Scope

Passenger Information System Market News and Recent Developments

The passenger information system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In January 2021, to expand its current transportation technology portfolio, Cubic Corporation introduced the "UMO" completely integrated suite of platforms for mobility, riders, service providers, and transit authorities. UMO is a flexible suite of tools that lets users schedule travel on both public and private transportation, pay for it, get rewards for traveling, and receive up-to-date information to increase their mobility.

(Source: Cubic Corporation, Company Website)

• In June 2020, the "BlueFiIter" air-filtration device was introduced by Wabtec Corporation to give passengers on trains and metros a clean, healthful environment. In railcars, BlueFilter eliminates over 90% of contaminants.

(Source: Wabtec Corporation, Company Website)

Passenger Information System Market Report Coverage and Deliverables

The "Passenger Information System Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles