The global passenger information system market size is projected to grow from USD 29.3 billion in 2023 to USD 52.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 12.4%. Continued growth in the passenger information system market is fueled by several reasons including reduction in operational cost, increased efficiency and productivity, and enhanced accessibility. Passenger information systems play a significant role in modern transportation to improve passengers’ travel experience by providing real-time updates on arrival and departure times, delays, disruptions, and route changes.
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The competitive landscape and the existence of a robust vendor ecosystem play a pivotal role in propelling innovation and development within the passenger information system market. The dynamic competition among technology providers fosters a continuous push for advancements, driving the evolution of more sophisticated and cost-effective solutions. In this competitive environment, companies strive to outpace each other in introducing cutting-edge features, improving system interoperability, and enhancing overall performance. The race to meet and exceed market demands encourages rapidly integrating emerging technologies into passenger information systems, such as artificial intelligence, IoT, and data analytics. As vendors vie for market share, customers benefit from diverse options, leading to an accelerated pace of innovation and a broader range of choices. The competitive forces within the passenger information system market catalyze continuous improvement, ensuring that the sector remains at the forefront of technological advancements while fostering sustained market growth.
“Based on solution, display systems segment to hold the largest market size during the forecast period.”
The display system segment in the passenger information system market is poised to hold the largest market size throughout 2023-2028. This growth is fueled by a rising demand for visual information, advancements in display technology, and its widespread application across various transportation modes. Additionally, operators’ focus on passenger experience and integration with other systems further set the segment’s leading position.
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Unique Features in the Passenger Information System Market
PIS systems notify travellers in real time about changes in routes, delays, interruptions, and other pertinent travel information. This guarantees prompt and accurate communication, which improves the traveller experience.
In order to seamlessly provide passengers with travel information across various transportation networks, certain PIS solutions allow integration with several forms of transportation, including buses, trains, subways, and trams.
PIS systems may have interactive displays and wayfinding features that make it simple for travellers to discover amenities, navigate through transit hubs, and retrieve pertinent trip information through user-friendly interfaces.
PIS systems frequently include accessibility elements to meet the needs of passengers with disabilities and guarantee inclusive travel experiences, such as voice announcements, tactile maps, and visual displays with large fonts and high contrast.
Passengers can receive updates on certain routes, destinations, or travel circumstances that are relevant to their journey through personalised alerts and notifications from some PIS platforms, which are based on their choices.
Major Highlights of the Passenger Information System Market
PIS systems are scalable to handle increasing passenger numbers and developing transportation networks, and they provide customisation possibilities to customise information displays and services to the unique requirements and preferences of transportation operators and passengers.
Through effective trip planning and modal shift incentives, PIS solutions cut carbon emissions, encourage the use of public transportation, and ease traffic congestion. They also promote green initiatives and sustainability activities.
By analysing passenger behaviour, travel patterns, and demand trends, PIS solutions help transportation authorities optimise services, allocate resources more effectively, and raise overall service quality.
In the event of an emergency, an accident, or a disruption, PIS systems give passengers safety information and emergency notifications, guaranteeing their security and safety while travelling.
PIS systems interact with mobile apps to improve mobility and convenience by allowing users to quickly plan trips, buy tickets, and obtain travel information from their smartphones.
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Top Companies in the Passenger Information System Market
Key and innovative vendors in the passenger information system market include Advantech Co., Ltd. (Taiwan), Alstom SA (France), Wabtec Corporation (US), Cisco Systems (US), Cubic Corporation (US), Siemens AG (Germany), Hitachi Ltd. (Japan), Huawei Technologies Co., Ltd. (China), Mitsubishi Electric Corporation (Japan), Televic (Belgium), ST Engineering Ltd (Singapore), Indra (Spain), Medha Servo Drives (India), Efftronics Systems Pvt. Ltd. (India), Dysten (Poland), Lunetta (India), r2p Group (Germany), Icon Multimedia (Spain), Passio Technologies (US), Teleste (Finland), Lancom D.O.O (Slovenia), Simpleway (Czech Republic), Eke-Electronics (Finland), Quester Tangent (Canada), LOT Group (Ukraine). The market players have adopted various strategies to strengthen their passenger information system market position. Organic and inorganic strategies have helped the market players expand globally by providing advanced passenger information systems.
ADVANTECH
Advantech, a publicly held company, provides IoT intelligent systems and embedded platforms. The company uses technologies that include IoT, big data, and artificial intelligence (AI) and promotes IoT hardware and software solutions with the Edge Intelligence WISE-PaaS core to assist its clients in connecting their industrial chains. Further, 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). As of March 2023, the company had annual revenue of USD 2.3 billion and had 9,430 employees.
In the PIS market, Advantech has competitive offering for the transportation industry, particularly railway transportation with systems that support automatic fare collection, signaling, rolling stock, and station management. The company is enabling intelligent transportation systems to develop smart city solutions through this offering. 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 provides various applications, such as communication-based train control, wayside signaling, and train control system. Furthermore, the company offers the 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
Alstom, a publicly held company, 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. As of March 2023, Alstom generated revenue of USD 17.9 billion, invested USD 682 million in R&D, and had 80,183 total employees. In the light-rail vehicle segment, Alstom Citadis offers modern mobility solutions for the modern-day city in the light-rail sector.
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 its Optimet OrbanMap, and augmented passenger information system, which enables better and more cost-effective service by using video analysis of platforms. Moreover, the Optimet OrbanMap provides the operators with detailed information on the number of passengers boarding, alighting, and waiting at a station by dividing the platform into an exchange area and a waiting area. Furthermore, Nomad, an owned Alstom subsidiary, provides innovative real-time passenger solutions via passenger devices and/or vehicle displays. This covers extensive passenger services, including internet access, travel information, entertainment delivery, and security applications.
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