The Passenger Information System Market size is expected to grow from USD 26.5 billion in 2022 to USD 46.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 11.8 % during the forecast period. The growing demand for intelligent public transportation systems that provides real-time transit information for passengers is projected to drive the growth of the PIS market.
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The railways transportation mode is expected to lead the passenger information system market in 2022.
After airways, railways are the second-fastest mode of transportation. An increase in the number of travelers is choosing rail services to reduce the time spent in traffic congestions on roads. As a result, the demand for railway services has increased, and governments across the world are increasing their investments in this segment to provide advanced services for the public, as well as understand the requirements of passengers. Many railway services have started using cloud computing and big data analytics to provide real-time information to commuters and increase ease of travel. Old infrastructure is being replaced by enhanced PIS solutions empowered by mobility and big data analytics. Vendors such as Advantech, Alstom, Thales, and Huawei offer PIS solutions for railways across the globe to enhance the travel experience of passengers through rail vehicles on-board and in the station.
Mobile applications solution segment is expected to grow with the fastest growth rate during the forecast period.
Mobile applications can be used to offer real-time transit information to passengers. Mobile applications are a new channel for delivering services to help passengers get through the whole process of their journey, starting from buying the ticket to checking in, boarding planes, arriving at their destination, and making their luggage available for them at the other end. Mobile applications are also increasingly deployed in every mode of transportation. In airlines and airports, mobile applications act as a key medium of knowing the entire travel information and helps to have a more personalized service for passengers.
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The major vendors covered in the passenger information system market include Advantech (Taiwan), Alstom (France), Wabtec (US), Cubic (US), Cisco (US), Siemens (Germany), Hitachi (Japan), Huawei (China), Thales (France), Teleste (Finland), Televic (Belgium), Mitsubishi Electric (Japan), ST Engineering (Singapore), DYSTEN (Poland), Lunetta (India), R2P (Germany), Indra (Spain), ICON Multimedia (Spain), Passio Technologies (US), LANCom (Slovenia), Simpleway (Czech), EKE-Electronics (Finland), Medha Servo Drives (India), Quester Tangent (Canada), and LOT Group (Ukraine), Efftronics (India). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches to expand their presence in the passenger information system market.
Advantech, a publicly held company, is one of the global leaders that provide IoT intelligent systems and embedded platforms. The company operates through the business segments, namely, Industrial Internet of Things Services (IIoT), Embedded Board and Design-in Services (EIoT), Allied Design and Manufacturing Services (Allied DMS), Intelligent Services (SIoT), and Global Customer Services (AGS & APS). In the PIS market, Advantech offers strong products and solutions for the transportation industry, particularly railway transportation. The company offers intelligent transportation systems that support railway automatic fare collection, railway signaling, rolling stock, and station management system. Through this offering, the company is enabling intelligent transportation systems to develop smart city solutions. The intelligent transportation systems include a rolling stock controller, which caters to the requirements in applications of rolling stock and a vehicle monitoring system. Moreover, the wayside controller series provide various applications, such as communication-based train control, wayside signaling, and train control system. Furthermore, the company offers MIO-5850 for integrating PIS in high-speed railway (HSR). This system requires advanced technical infrastructure systems to support rolling stock and operations. These systems cater to strategic and cross-sector problems related to human, financial, commercial, and managerial concerns.
Alstom, a publicly held company, is one of the global leaders in the transportation sector that offers a complete range of equipment and services, from high-speed trains, metros, trams, and e-buses to integrated systems, customized services, infrastructure, signaling, and digital mobility solutions. Alstom provides solutions that deliver security and fluidity to passengers and operations by optimizing real-time performance in signaling and multimodality, offering connectivity, and automating driving. The company offers an Optimet passenger-based regulation solution, which enables better and more cost-effective service by using video analysis of platforms. Moreover, the Optimet passenger exchange analyzer provides the operators with detailed information on the numbers of passengers boarding, alighting, and waiting at a station by dividing the platform into an exchange area and a waiting area. Furthermore, Nomad, a wholly-owned Alstom subsidiary, provides innovative real-time passenger solutions via passenger devices and/or vehicle displays. This covers an extensive range of passenger services, including internet access, travel information, entertainment delivery, and security applications.
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