Passenger Information System Market Scope
The passenger information system is the operating tool responsible for providing, at any time, visual and audio information to passengers at stations and transfer facilities, both automatically or programmed manually. Nowadays, increasingly connected world, rail companies need to differentiate by making their services more attractive to passengers has led to significant growth of the global passenger information system market in the forecast period.
According to AMA, the Global Passenger Information System market is expected to see growth rate of 11.89% and may see market size of USD41.85 Billion by 2026.
The Manufacturers having a strong hold in the market are Advantech, Alstom, Wabtec, and Cubic. Research Analyst at AMA estimates that European and United States Manufacturers will contribute to the maximum growth of Global Passenger Information System market throughout the predicted period.
Advantech (Taiwan), Alstom (France), Wabtec (United States), Cubic (United States), Cisco (United States), ST Engineering (Singapore), Siemens (Germany), Mitsubishi Electric (Japan), EKE-Electronics (Finland), Atos SE (France) and Televic Group (Belgium) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Hitachi (Japan), Huawei (China), Thales (France), Teleste (Finland), Dysten (Poland), Televic (Belgium), Lunetta (India), r2p (Germany), Indra (Spain), ICON Multimedia (Spain), Passio Technologies (United States), LANCom (Slovenia) and Simpleway (Czech Republic).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Passenger Information System market by Type (Hardware, Solutions and Services) and Region with country level break-up.
On the basis of geography, the market of Passenger Information System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 14th October 2019, Cubic Corporation has announced its Cubic Transportation Systems (CTS) business division signed an agreement with Google to integrate contactless transit cards with Google Pay, making it fast and easy for travelers to use their mobile phones to pay for their journeys. The collaboration also provides transit agencies using Cubic’s world-leading revenue management systems with the full benefit of Google’s user experiences to increase convenience and encourage ridership.
on 25th February 2019, Wabtec Corporation has announced that it has completed its merger with GE Transportation, a former business unit of GE. This merger establishes Wabtec as a Fortune 500, global transportation and logistics leader by combining Wabtec’s broad range of freight, transit and electronics products with GE Transportation’s best-in-class equipment, services and digital solutions in the locomotive, mining, marine, stationary power, and drilling industries. Wabtec has also been notified that it will now be included in the S&P 500 Index.
- Rising Frequency of Passenger Journey through Public Transport
- Rising Demand for Consistent, Real-Time, and Reliable Passenger Information
- Increasing Use of Smartphones with Enhanced Connectivity Improves the Transit Experience
- Rising Adoption of IoT and Big Data to Enhance Passenger Travel Experiences
- High Maintenance and Implementation Costs of Passenger Information System
- Poor Internet Connectivity Across Underdeveloped Economies
Key Target AudiencePassenger Information System Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other