Passenger Information System Market Worth 45,679 Million USD by 2025 | Top Players such as – Alstom, Hitachi and Indra
Rising demand for intelligent public transportation system is boosting the market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 20, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Passenger Information System Market Worth 45,679 Million USD by 2025 | Top Players such as – Alstom, Hitachi and Indra.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global passenger information system market was valued at USD 13,703 million in 2016, and is projected to reach at USD 45,679 million by 2025, growing at a CAGR of 14.60% from 2018 to 2025.
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Rise in demand for real-time transit information solutions for the passengers, increased adoption of smartphones, increased penetration of IoT solutions in transportation sector, and advancements in telecommunication offerings are anticipated to drive the growth of the global passenger information system market. In addition, surge in adoption of cloud and big data technologies is expected to create lucrative opportunities for the growth of the market.
The global passenger information system market is segmented based on component, solutions, mode of transportation, and geography. By component, the market is divided into hardware, software, and services. On the basis of solution, it is categorized into information display system, announcement systems, infotainment systems, passenger information mobile applications, and emergency communication systems. Depending on mode of transportation, it is fragmented into airway, railway, and roadway. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The roadway segment led the market in 2016, and is expected to dominate in the near future. However, the railway segment is expected to grow at a significant pace during the forecast period. Furthermore, Asia-Pacific is expected to show high growth rate, as it experiences the highest demand for passenger information system.
Based on mode of transportation segment, the roadway segment led the passenger information system market in 2016, and is projected to maintain its dominance in the future. However, the railway segment is expected to witness the highest growth, owing to its increased need of passenger information system to provide accurate and reliable updates to railway passengers before and throughout their journey.
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The global passenger information system market was led by the North America in 2016, and is projected to maintain its dominance during the forecast period. However, the Asia-Pacific is anticipated to witness the fastest growth, registering a CAGR of 20.20% during the forecast period.
The global passenger information system market is dominated by the key players such as Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, and Toshiba Corporation.
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Key Findings of the Passenger Information System Market :
● The services segment is expected to exhibit significant increase in terms of revenue during the forecast period.
● In 2016, the roadway segment accounted for the highest revenue among the other modes of transportation.
● Passenger information display system generated the highest revenue in 2016.
● Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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