Passenger Information System Market

The global Passenger Information System Market size reached US$ 29.3 Billion in 2023. Looking forward, expects the market to reach US$ 52.6 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2024-2028. The PIS system market is expected to substantially surge in the coming years. This growth is fueled by several key trends such as passengers demanding better experiences, technological advancements such as AI and IoT, a focus on cost efficiency, the rise of cloud-based solutions, increasing urbanization and public transport use, and supportive government initiatives. These factors will combine to create a booming market for PIS systems, making them an essential tool for transportation providers seeking to attract and retain passengers while optimizing operations.

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Passenger Information System Market Trends

Driver: Rise in demand for intelligent public transportation systems, including real-time transit information of passengers

Intelligent public transportation systems are promoting the passenger information system (PIS) market in several ways. Firstly, the demand for reliable real-time information, for instance exact arrival times and delays, is crucial for passengers and drives the need for advanced PIS solutions. Secondly, these systems prioritize a positive user experience, and PIS plays a key role by reducing stress and empowering passengers through information. Additionally, PIS acts as a core component, integrating data from various sources to provide a unified picture for passengers, necessitating further market growth. Furthermore, government investments in these intelligent systems directly impact PIS demand as accurate and timely data delivery is essential. Finally, advancements in technology further enhance the capabilities of PIS, making it more valuable and driving the market forward.  In essence, the rise of intelligent public transportation creates a strong demand for reliable passenger information, propelling the growth of the PIS market. Vendors in this market offer real-time information to passengers through different modes, such as smartphones, platform-level signage, third-party applications, and automated public-address systems. The information comprises both predictions about arrival and departure times, as well as information about the nature and causes of delays or disruptions.

Restraint: High costs involved in implementing and maintaining the passenger information systems

The overall cost of a PIS system includes the implementation and maintenance costs that can restrain the PIS market growth. The implementation costs primarily consist of the cost of designing the system, purchasing and installing the equipment needed for the system to work (including conduit), and monitoring the system's quality before it is released to the public. The maintenance costs comprise the entire cost of all inputs required to operate and maintain the real-time PIS solutions and services. It also includes operating costs that consist of electricity costs required to power the systems, the cost of data transfer between units of the system, and the parts and equipment utilized by maintenance staff in conducting their work. Maintaining the PIS system requires special attention as the information about passengers and public transport keeps changing. PIS systems also provide information about including new Passenger Transport (PT) operators in the Integrated Passenger Information (IPI) system, vehicle fleet changes as per requirements, and vehicle equipment breakdowns. Thus, PIS encompasses complex operational procedures due to the integration of associated additional components, increasing the overall costs due to technical hitches associated with the installation and the cost of employing experienced and skilled professionals related to the PIS market. PIS solutions and services further require regular upgrades to ensure the efficient functionality and reliability of the system, which leads to a rise in the overall maintenance costs, inhibiting the growth of the global PIS market.

Opportunity: Adoption of IoT, 5G, and automation technologies to enhance technological optimization

The evolution of IoT has enabled the exchange of information between different electronic devices without the need for direct human interaction. The convergence of IoT platforms with PIS is projected to help drive the market's growth. IoT is a combination of storing, processing, and computing sensor data using data analytics to achieve and assist the management of traffic systems effectively. IoT-based Intelligent Transportation Systems (ITS) help automate railways, roadways, airways, and marine lines, enhancing passengers' travel experiences. Smart devices integrated for improved connectivity, automation, and control are projected to become more self-governing and intelligent in terms of sharing data with transportation management control centers and the cloud.

Moreover, logistics vendors are finding ways to face new economic challenges with the help of technologies, such as Radio-Frequency Identification (RFID), Global System for Mobile Communications-Railway (GSM-R), and collaboration platforms. In addition, according to The Mobile Economy 2020, IoT will be an integral part of the 5G era. Between 2019 and 2025, the number of global IoT connections will be more than double, reaching nearly 25 billion, while global IoT revenue would triple to USD 1.1 trillion. The transportation industry is gradually adopting 5G networks for performing its business operations. These next-generation wireless networks would be an essential weapon for the successful adoption of IoT. The policies to support R&D activities and commercialize 5G that have been drawn globally, which would help increase IoT usage. The high speed and low latency of the 5G networks enable the passengers to get real-time data about their journeys quickly. For instance, China plans to implement the 5G technology for many life-transforming applications, from 3D video to immersive media and autonomous vehicles. China is projected to reach 576 million 5G connections by 2025, which covers nearly 40% of 5G connections globally. Hence, 5G is projected to provide improved connectivity by providing the speed, reliability, capacity, and mobility manufacturers require for a successful IoT implementation.

Challenge: Complexities in the integration over the legacy infrastructure and communication networks

Legacy systems are outdated computer software and hardware that remain in use even after the installation of modern technologies. Legacy systems are crucial for organizations as they support some key functionalities of the business. Organizations require to upgrade their legacy systems as it becomes difficult to continue with systems whose services are discontinued from vendors. Many of the legacy systems do not have the configuration required to connect with smart devices and enhanced communication networks. The PIS market vendors face challenges in integrating these legacy systems with various components present in the smart public transportation ecosystem. The smart public transportation ecosystem integrates multiple technology elements, such as software, hardware, and network elements, and involves multiple vendors. The integration of smart technology elements with legacy transportation systems is highly complex due to the lack of an open interface and protocol issues. These integration issues would then lead to communication gaps between traditional systems and technologically advanced systems. In addition, the upgradation of legacy systems requires high investments. These complexities are expected to restrict the PIS market growth in the coming years.

Ecosystem Of Passenger Information System Market

The prominent players in the passenger information system market include Advantech Co., Ltd. (Taiwan), Alstom SA (France), Wabtec Corporation (US), Cisco Systems (US), Cubic Corporation (US), and so on. These companies have been operating in the market for several years and possess a diversified product portfolio and state-of-the-art technologies with a well-established geographic footprint.

"By location, on-board segment to hold the largest market size during the forecast period.”

Passengers demand real-time travel updates, and on-board PIS systems delivery. Fueled by better connectivity, safety concerns, and wider applications, these systems are projected to dominate the market (2023-2028). From trains navigating delays to planes displaying gate information, location-specific benefits solidify their lead. Cost-effectiveness and integration with other technologies further enhance the deal, making on-board PIS systems the go-to solution for a seamless and informed passenger experience.

“Roadways segment is expected to have the fastest growth rate during the forecast period.”

Roadways are anticipated to have the fastest growth rate during the forecast period 2023-2028. The market growth is driven by connected and autonomous vehicles relying on PIS for navigation. It’s a key player for cities focused on efficient public transport which displays live bus arrival info and optimizes the routes. Cost-effective and flexible, PIS appeals to both private and public providers. Additionally, mobile app integration lets passengers access information on the go. Safety is paramount, with PIS displaying accident alerts and emergency procedures.

“North America to have the largest market size during the forecast period.”

North America is projected to have a stronghold in the on-board PIS market, with the largest market size during the forecast period. Tech-savvy citizens demand the latest PIS features, from real-time displays to AI chatbots. The region's vast transportation network demands robust solutions, and government support for smart cities and ITS fuels market growth. PIS systems enhance passenger’s experience with real-time information and reduced wait times, boosting market demand and providing a solid foundation for future growth.

Market Players:

The major players in the passenger information system 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), and LOT Group (Ukraine). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and enhancements, and acquisitions to expand their passenger information system market footprint.

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Scope of the Report

This research report categorizes the passenger information system market to forecast revenues and analyze trends in each of the following submarkets:

Based on offering:

• Solution
  • Display systems
  • Announcement systems
  • Emergency communication systems
  • Mobile applications
  • Infotainment System
  • Video Surveillance System
  • Other solutions (Content Management System, In-station and On-board Wi-Fi System, and Passenger Counting & Occupancy Information System)
• Services
  • Consulting
  • Deployment & Integration
  • Support & Maintenance

Based on location:

• On-board
• In-station

Based on Transportation Mode:

• Railways
  • Trains
  • Trams
• Roadways
• Airways and waterways

By Region:

• North America
  • United States (US)
  • Canada
• Europe
  • United Kingdom (UK)
  • Germany
  • France
  • Italy
  • Spain
  • Nordic countries
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia & New Zealand
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC Countries
    • Kingdom of Saudi Arabia (KSA)
    • United Arab Emirates (UAE)
    • Rest of GCC Countries
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

Recent Developments

• In December 2023, Alstom launched its largest Digital Experience Centre for developing next generation Signaling solutions in India with a total investment of USD 43 million over the last decade.
• In January 2022, Siemens Mobility developed a new Passenger Info Plus system by collaborating with Wiener Linien to meet the special public transport requirements in Vienna.

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