NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Major players in the passenger information system market are Alstom SA, Cubic Corporation, Siemens Mobility, Hitachi Ltd, Huawei Technologies Co Ltd, Thales Group, Mitsubishi Electric Corporation, Advantech, Wabtec Corporation, Cisco Systems Inc, Teleste Oyj, Indra, Singapore Technologies Electronics Limited, Toshiba Corporation and Samsung.



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The global passenger information system market is expected to grow from $20.72 billion in 2021 to $23.47 billion in 2022 at a compound annual growth rate (CAGR) of 13.29%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The passenger information system market is expected to grow to $37.37 billion in 2026 at a compound annual growth rate (CAGR) of 12.34%.

The passenger information systems market consists of sales of passenger information system solutions by entities (organizations, sole traders, and partnerships) that are used in public transport terminals to analyze delays and disturbances and anticipate arrival and departure timings. Passenger information systems are crucial to improving customer satisfaction, reducing complaints, increasing service usage, and improving planning.

The main components of passenger information systems are hardware, software, and services.Hardware refers to the physical parts of a computer and related devices.

The location is on board and in the stations.The transportation modes are railways, roadways, airways, and waterways.

The functional mode is multimedia displays, audio systems, computing systems, networking and communication devices, video surveillance, content management systems, and other functional models.

North America was the largest region in the passenger informartion system market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the passenger informartion system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing number of travelers and passengers is expected to propel the growth of the passenger information system market going forward.The passenger information system provides real-time updates on the status of public transportation and other information that passengers and travelers would use to have a safer and more enjoyable commute.

For instance, according to a report by the International Air Transport Association, a Canada-based trade association of the world’s airlines, revenue passenger kilometers, or RPKs, which measure total traffic, increased by 76.0% and domestic traffic increased by 11.7% in March 2022 compared to March 2021. Therefore, the growing number of travelers and passengers is driving the growth of the passenger information system market.

Technological innovation is a key trend gaining popularity in the passenger information systems market.Major companies operating in the passenger information system market are focused on developing new technological solutions to strengthen their position.

For instance, in January 2020, Samsung Electronics, a South Korea-based company operating in passenger information systems, introduced Digital Cockpit 2020, which utilizes 5G to link features inside and outside the vehicle and provide connected experiences for drivers and passengers alike.The Digital Cockpit 2020 is the third co-development between Samsung Electronics and HARMAN International and would combine Samsung’s telecommunications technologies, semiconductors, and displays with HARMAN’s automotive expertise.

The solution would enable seamless two-way connections between the home, the office, and all the other spaces that users will visit while providing personalized experiences and in-car infotainment.

In September 2021, R2P, a Germany-based transportation technology designer and developer, acquired T.G. Baker Americas Inc. for an undisclosed amount. This acquisition is expected to provide R2P with a strong foothold in North America and improve its customer base. T.G. Baker Americas Inc. is a Canada-based company operating in passenger information systems.

The countries covered in the passenger informartion system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The passenger information system market research report is one of a series of new reports that provides passenger information system market statistics, including passenger information system industry global market size, regional shares, competitors with a passenger information system market share, detailed passenger information system market segments, market trends and opportunities, and any further data you may need to thrive in the passenger information system industry. This passenger information system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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