Global Passenger Information System (PIS) Market Size, Trends & Growth Opportunity, By Component (Hardware, Software, and Services), By Solution (Information Display System, Announcement System, Infotainment System, Passenger Information Mobile Applicatio

Global Passenger Information System (PIS) Market Size, Trends & Growth Opportunity, By Component (Hardware, Software, and Services), By Solution (Information Display System, Announcement System, Infotainment System, Passenger Information Mobile Application, and Emergency Communication Systems), By Mode of Transportation (Financial Airway, Railway, and Roadway), By Region and Forecast till 2027.

Global Passenger Information System (PIS) Market

The global makeup remover market was valued at USD 26.52 billion in 2021 and it is expected to reach at USD 58.54 billion in 2027 at a CAGR of 11.9 % during forecast period 2022-2027.

Passenger information system (PIS) is the communication link between passengers and transit agency. It enables to provide information related to real time vehicle location, and status updates, timely announcements, and schedule of journey. PIS focus on improvements of the transit experience for passengers by entertaining the passengers through infotainment system.

Market Drivers

Increase in demand for consistent, real time and reliable passenger information is the key driving factor which is expected to boost the global passenger information system (PIS) market growth. Furthermore, rise in penetration of smartphones with enhanced connectivity improves the transit experience will positively contribute the market growth. Moreover, increase in frequency of passenger journey through public transport which is expected to fuel the market growth in near future. Also, rise in adoption of Internet of things (IoT), cloud computing, and big data analytics to enhance passenger travel experiences will propel the global passenger information system market growth. Cloud computing is essential and advanced technology which adopted for automation of different mode of transportation especially in railways. The PIS utilizes cloud computing technology to track the position of busses and calculated the arrival time to be displayed on real time information system at the bus stop.

Market Restraints

However, high maintenance and installation cost of passenger information system is the major restraining factor which is expected to hinder the global passenger information system (PIS) market growth. Also, outdated infrastructure and poor internet connectivity across underdeveloped nations will affect the market growth.

Covid-19 Impact

A public emergency is declared due to outbreak of COVID-19 which adversely affect market due to several restriction and lockdown imposed by government limiting travel bans.Due to this a significant drop in the number of people utilizing public transport hinders the market growth.as lockdown measures were lifted public transport was run by maintaining physical distancing.

Recent Development

In 2021, Urban Rail Light Cloud, 5th generation LTE-R, and 5G uses “Digital Indoor System (DIS)” solutions which is discovered by Huawei Technologies providing broadband connectivity and connected railways, enables rail operators to create smarter, safer, and more effective rail transportation networks.

Market Segmentation

Global Passenger Information System (PIS) Market is segmented into component such as Hardware, Software, and Service, by solution such as Information Display System, Announcement System, Infotainment System, Passenger Information Mobile Application, and Emergency Communication Systems. Further, market is segmented into mode of transportation such as Airway, Railway, and Roadway.

Also, Global Passenger Information System (PIS) Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as CISCO, CUBIC, WABTEC, ALSTOM, SIEMENS AG, HITACHI, HUAWEI, THALES, TELESTE, and MITSUBISHI ELECTRIC etc.

Market Taxonomy

By Component

• Hardware
• Software
• Service

By Solution

• Information Display System
• Announcement System
• Infotainment System
• Passenger Information Mobile Application
• Emergency Communication Systems

By Mode of Transportation

• Airway
• Railway
• Roadway

By Region

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

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Passenger Information System (PIS) Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?