Passenger Information System Market To Reach $74.06 Billion By 2030

Passenger Information System Market Growth & Trends

The global passenger information system market size is estimated to reach USD 74.06 billion by 2030, expanding at a CAGR of 14.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for real-time, consistent, and reliable passenger information along with rising frequency of passenger journeys via public transport are the major factors driving the growth of the market. Moreover, growing penetration of internet, mobile, hand held devices, and digital interfaces are likely to increase the utility of passenger information system (PIS) solutions. Advancements in telecommunication and internet connectivity are also enabling users to use PIS applications to receive useful updates and data about transit services.

Passenger information system solutions are tools and applications used to track details about booking, arrival, and departure of various transport mediums. With the expanding scope of urban transportation and development of intelligent transport systems, there has been significant growth in digital interaction and adoption of smart telematics solutions in transport systems. Moreover, as the transport industry becomes digitally mature, PIS will emerge as a key medium to connect travelers with the central information system of transit mediums. In addition, PIS vendors are in constant state of enhancing and improving their products to meet the needs of technology equipped passengers for delivering accurate and reliable data in real-time.

The rise in IT technologies such as adoption of cloud, artificial intelligence (AI), big data, and communication technologies such as 5G is anticipated to propel the demand for passenger information system in transportation industry. The evolving technologies will aid in automating the different modes of transportation and ease the dissemination of reliable data to improve overall transit experience. Cloud technology in combination with AI and analytics solutions will help in improving efficiency to allocate resources and monitor the commuter crowd in a cost-effective manner. However, high implementation and management costs are challenges that might impede the growth of the market over the forecast period. However, recent outbreak of COVID-19 disease across the world is likely to slow down the growth rate of the market temporarily.

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Passenger Information System Market Report Highlights

• The services are expected to grow at the fastest CAGR from 2024 to 2030 owing to rising demand for software integration capabilities by transport departments, and consultancy and security services offered by PIS vendors. Shift from on-premise deployment to cloud model will also propel the growth of the segment in the coming years

• The passenger information mobile solutions segment is anticipated to register highest growth rate owing to increased penetration of smart mobile devices. Moreover, transit departments are focusing on developing mobile applications to attract the passengers and provide them with real-time data

• Airway and waterway mode of transport is anticipated to grow at faster rate owing to increase in number of global travelers, increasing airport and inland waterways infrastructure in developing countries, and increasing growth of information dissemination via mobile device channels

• Asia Pacific is expected to emerge as the fastest-growing region in the market owing to increasing smart transportation infrastructure, rising per capita GDP, and domestic air connectivity.

• Huawei Technologies Co., Ltd. Huawei Technologies is a key player in the passenger information systems market, offering advanced solutions that leverage ICT infrastructure. Their products and services encompass a wide range of hardware and software components, including intelligent terminals, communication networks, and data management systems, to deliver real-time information and enhance passenger experience.

Passenger Information System Market Segmentation

Grand View Research has segmented the global passenger information system market based on type, component, location, transportation mode, and region:

Passenger Information System Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Display Systems

• Announcement Systems

• Infotainment System

• Mobile Applications

• Video Surveillance System

• Emergency Communication Systems

• Others

Passenger Information System Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Solution

• Services

Passenger Information System Location Outlook (Revenue, USD Billion, 2018 - 2030)

• On Board

• In Station

Passenger Information System Transportation Mode Outlook (Revenue, USD Billion, 2018 - 2030)

• Airway & Waterway

• Railway

• Roadway

Passenger Information System Regional Outlook (Revenue, USD Billion; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Passenger Information System Market

• Acapela Group

• Advantech Co., Ltd.

• Alstom SA

• Cubic Transportation Systems, Inc.

• Hitachi, Ltd.

• Huawei Technologies Co., Ltd.

• Nokia

• Siemens Mobility

• Thales

• Wabtec Corporation