Passenger Information System Market Projected to Reach US$ 46.0 Billion by 2028

IMARC Group, a leading market research company, has recently released a report titled “Passenger Information System Market: Global ABS Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Passenger Information System Market share, size, analysis, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the Passenger Information System Market?

The global passenger information system market size reached US$ 23.8 Billion in 2022. Looking forward, the market expected to reach US$ 46.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.51% during 2023-2028, according to IMARC Group latest published report.

A passenger information system (PIS) is a communication platform between a transit agency and passengers. It is also known as a customer information system and provides real-time information to users about public transport via voice, visual or other media. PIS helps in obtaining data about schedules, entertainment, news broadcasts, and emergency communication services. In line with this, it allows passengers to get relevant information regarding the status of various transportation mediums and facilitating them to plan their journeys better.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Advantech Co. Ltd., Cisco Systems Inc., Cubic Corporation, Hitachi Ltd., Huawei, Indra Sistemas S.A., Infax Inc., Mitsubishi Electric Corp., Passio Technologies, Siemens and Teleste Oyj.

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Market Trends

The growing demand by passengers to receive reliable and accurate real-time transit information is propelling the growth of the passenger information system market. Moreover, the increasing adoption of intelligent transportation systems along with the growing advancements in the telecommunication industry to enable faster data transfer capabilities, is also inducing the demand for the passenger information system. Additionally, the several technological advancements, such as the Internet-of-Things (IoT), cloud computing, and big data analytics, in the transportation sector are also driving the sales of passenger information systems across the globe.

The report has segmented the market on the basis of Mode of Transport, Component, System Type, Location and Region.

Breakup by Mode of Transport:

• • Airways
  • Railways
  • Roadways

Breakup by Component:

• • Hardware and Software
  • Services

Breakup by System Type:

• • Multimedia Displays
  • Audio Systems
  • Computing Systems
  • Networking and Communication Devices
  • Video Surveillance Systems
  • Content Management System
  • Others

Breakup by Location:

• • On Board
  • In Station

Breakup by Region:

• • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

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