Everything You Want to Know About the Passenger Information Systems Market

San Francisco, California, July 27, 2018: A recent report added by TMR Research to their vast repository, titled, “Passenger Information Systems Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” forecasts the market to bode well mainly due to extensive advancements occurring in the field of transportation and expansion of the tourism industry.

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Increase in digitization of different systems that are tasked with providing accurate information to passengers, tourists, and visitors in various sectors, is primarily driving the global passenger information systems market. Moreover, the number of smartphone users has gone up dramatically in the past few years, which too is contributing notably to the market’s excellent progress. With rapid industrialization and urbanization, tourist and passenger flow is predicted to increase at a brisk pace. This spells out a favorable situation to develop for the global passenger information systems market, and ups the ante for companies to produce highly efficient devices and systems. Fuel prices are rising extensively, and hence, many are taking towards public transportation. And as this type of transportation needs use of quality information systems, the associated market is expected to witness exemplary growth in future.

However, the global passenger information systems market is being restrained owing to high costs required to build the systems, thus discouraging small-scale business from flourishing. However, many companies are expected to introduce cost-effect solutions soon, thus offsetting most restraints affecting the market.

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The vendor landscape in this market is notably fragmented and highly competitive owing to the presence of innumerable small and large-scale companies. Most players are focused on building cutting-edge products and services by leveraging process automation software, business analytics, and social media platforms, to generate splendid growth in the market. Alstom, GE Transportation, Huawei, and Cubic Transportation Systems., are key companies operating in the global passenger information systems market.

Passenger Information Systems Market Worldwide Trend during 2017-2025

Passenger Information Systems Market: Snapshot 

Passenger information systems, referring to tools and applications commonly used to track details regarding booking, arrival, and departure of a variety of transportation mediums, are increasingly being considered a means of achieving sustainable urban transport by municipal bodies. The ever-expanding scope of urban transportation and the consequent need for adopting fleet optimization and smart telematic solutions are leveraging the scope of digital interventions in transport systems. In the near future, as the transport industry becomes digitally more mature, passenger information systems will emerge as a central medium of connecting travelers with the central information system of transportation mediums.

The rising use of mobile devices such as smartphones and digital interfaces to stay updated on travel-related information is a key factor expected to drive the increased demand for effective passenger information systems across the globe. Advancements in the telecommunications industry and the rising expanse of internet connectivity will also allow the consumer to use passenger information systems to fetch useful information transportation-related information.

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The worldwide trend towards smart cities, wherein digital devices and information and communication technology solutions are integrated in a secure manner to effectively manage a city’s assets, is also expected to be a key driver of passenger information systems in the next few years. The rising implementation of connected transportation, especially in emerging economies with burgeoning urban populace, will allow the increased use of data communication tools such as passenger information systems. This report presents a thorough overview of the present state of development of the global passenger information system market.

Passenger Information Systems: Overview

A passenger information system provides real-time information to the passengers. It is an electronic information system which includes both predictions about arrival and departure time of travel means. In addition, it provides information about the nature and causes of interruptions. A passenger information system can be used physically within a transportation means and remotely with the use of web browsers or a mobile device.

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Previously, passengers needed to get in endless queues to inquire about the arrival and departure time of a train or a bus. Thanks to the passenger information systems, all the information can be now acquired online. Passenger information systems provide in-transit connectivity to the passengers and real-time information. This offers transport service providers an edge over other service providers. Moreover, passenger information system and solutions offer several features such as weather forecast display, news broadcast, emergency communication, on-demand information and entertainment. These features attract a higher number of passengers and help generate more revenues. Development of 3G and 4G LTE communication technologies has stimulated the demand for the display of information on arrival, departure and cause of delay on smartphones and mobiles. It has also opened new avenues for mobile application developers.

Passenger Information Systems: Trends and Prospects

Digitalization has increased the demand for the global passenger information systems market. The number of smartphone users has gone up over the years. With improvements in data connectivity in terms of quality as well as costs, the prospects of a better market and stronger competition in the near future can be predicted. Another reason and a crucial factor for the growth of the market is the steep rise in urbanization, coupled with an increase in number of public transport facilities. Due to better public transport systems, a large volume of passengers are now opting to travel with public transport. Also, the hassle of parking and rising fuel prices are pushing a greater number of daily commuters to opt for public transport. As a result, in-transit connectivity and passenger information services are now attracting transport companies to up their game and increase their customer flow.

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Passenger Information Systems: Key Segments

The passenger information system market is segmented on the basis of systems, mobile applications, components, modes of transportation, and services. Systems include information announcement systems, display systems, emergency communication systems, and infotainment systems. Components include multimedia displays, networking devices, communication devices, routers, and sensors. Services include integration, cloud, and professional. Modes of transportation include railways, roadways, and airways.

Geographically, the market for passenger information system can be segmented into North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. A large percentage of the global passenger information systems market is held by North America and is projected to lead the market in the years to come. With high population and increased per capita income, Asia Pacific and Latin America will soon be registering a high growth rate.

Passenger Information Systems: Key Market Players

The key players in the passenger information systems include Alstom, Huawei, GE Transportation, and Cubic Transportation Systems.

Number of Consumers Relying on Passenger Information Systems Soars

San Francisco, California, May 11, 2017: Unlike before, passengers no longer need to stand in long queues for making enquiries about the arrival and departure of buses and trains. This is made possible by passenger information systems, which helps in giving all the information necessary, at real time. This is boosting the global passenger information systems market. TMR Research in its latest report, studies the global passenger information systems market. The report is titled “Passenger Information Systems Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” The scope of urban transportation is widening and there is a need for adopting digital and smart telematic solutions, thus pushing the adoption of passenger information systems. Passenger information systems can be used in web browsers of a mobile device and also used physically within a transportation means.

According to the report, the global passenger information systems market is driven by the escalating use of mobile devices for keeping abreast with travel related information. Advancements in telecommunication sector and the increasing penetration of high speed internet are together driving the adoption of passenger information systems. A large number of consumers are relying on passenger information systems for acquiring information regarding transportation. Passenger information systems are increasingly becoming popular because not only do they provide information regarding arrival and departure, but also gives information about interruptions if any, and the nature and reason for interruption.

Urbanization and increase in the number of public transport facilities are some of the other factors driving the growth of this market. The improvement in the public transport systems, rise in fuel prices, and increasing hassles for parking have made public transport a popular choice for many routine commuters across the globe. This in turn is increasing the usage of inter transit connectivity and use of passenger information systems.

On the basis of geography, the global passenger information systems market is segmented into Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Of these, North America is anticipated to lead in the market. However, Asia Pacific too shall not remain behind in terms of growth in this market, on account of its high population and increasing per capita income. Latin America is also expected to witness a surge in the demand for these systems in the coming years.

Leading players have been profiled in the report for the purpose of study and an in-depth understanding of the various developments made by them and the challenges faced. Some of the companies operating in the market are: Cubic Transportation Systems, Huawei, Alstom, and GE Transportation.