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Market Highlights
Passenger Information System (PIS) are those innovative ICT solutions that create a fully-connected, digital transportation infrastructure. PIS deliver cloud-based services, broadband connectivity, and well-connected digital devices to help transport operators build safer, smarter, and more efficient transportation systems, improving transportation capacity continuously and driving service innovations. Integrating cloud, IoT, big data, and AI passenger information system helps in ensuring secure, reliable, and efficient operations at transport infrastructure.
The global Passenger Information System (PIS) market has been growing continually, mainly due to the huge technological advances in the transport sector. Rapid urbanization and ever-increasing population demand up-gradation of transportation infrastructures and systems used to manage travelers information. Moreover, the increasing demand to counter security concern at public transports infrastructures escalates the market on the global platform.
Considering the kind of growth, the market is garnering currently Market Research Future (MRFR) in its recently published study report asserts that the global passenger information system (PIS) market would reach a valuation of USD 21.39 BN by 2022, registering a whopping CAGR of 23.17% throughout the forecast period (2016 to 2022).
Due to the rising, threatening situations in the crowded areas security protocols have been tightened at every transport infrastructure, furnishing them with advanced equipment to ensure security. Resultantly, implementations of PIS are rising, which is a key growth driver for the growth of the passenger information system market.
On the flip side, the high cost of components and technical limitation are some of the factors inhibiting the growth of the market. Technological advancements over the period have upgraded these passenger information systems to a great deal.
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Key Players:
Key players leading the global PIS market include Passio Technologies, Inc. (US), Infax, Inc. (US), General Electric Company (US), DTI Group (Australia), Cubic Transportation Systems (US), Huawei Technologies Co. Ltd (China), Siemens AG (Germany), Medha Servo Drives Pvt. Ltd (India), Advantech Corporation (Taiwan), and Neusoft Corporation (China), among others.
Segmentation:
The market is segmented into five key dynamics:
By Transportation Mode: Railways, Airways, and Roadways.
By Services: Cloud and Professional.
By Component: Sensors and Multimedia Devices, among others.
By Solution: Information Announcement Systems, Display Systems, Emergency Communication Systems, Infotainment Systems, Passenger Information, and Mobile Applications among others.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Regional Analysis:
The North American region leads the global passenger information system market. In 2016, the region had acquired a 38% share of the global market. Increasing emphasis on providing an enjoyable experience to the passenger with comfort and security is a key driving force behind the growth of the market.
The presence of major market players, well-established technology development sector, and the augmenting regulatory support drive the growth of the market. Simultaneously, increasing digital advancements and extensive uptake of advanced technologies propel the increase in the regional market. The US backed by a massive demand for futuristic PIS accounts for the major contributor to the growth of the regional market.
The passenger information system market in the European region accounted for the second-largest market, occupying 33% share of the global market, in 2016. Factors such as the increasing demand for futuristic passenger information systems drive the market in the region. The resurging economy is a significant factor substantiating the market growth in the European region. Also, increased funding in passenger convenience management concerns provide impetus to the growth of the regional market
The Asia Pacific passenger information system market is emerging as a promising market, globally. In 2016, the region had acquired around 21% of the market share. Improvement in network infrastructure, increasing expenses on the development & up-gradation of transportation infrastructures led by the rising number of travellers fuel the growth of PIS market in the region.
Countries such as India, Indonesia, Malaysia, Philippines, and Thailand are witnessing steady air traffic growth in recent years, which has resulted in higher investments on the airports by the respective governments of these countries. The APAC region has seen a constant increase in the aviation sector. With improving economic conditions and purchasing power, the rate of air travels is expected to increase more.
Passenger Information System (PIS) Market – Competitive Landscape
Highly competitive, the passenger information system market appears to be fragmented with the presence of several well-established players. Brand reinforcement, mergers & acquisitions, and innovation remain the key trends for these leading players.
These vendors strive to develop an information solution that can deliver a suite of application offerings to help address the needs at the bus stations, railway stations, and airports. Using time-tested methodologies and best practices, these players try to bring together disparate point systems from multiple providers into a security-rich, integrated environment that addresses resource planning, passenger experience, and asset management.
Industry/Innovation/Related News:
June 11, 2019 —– Huawei Technologies Co. Ltd. (China), a multinational technology company officially released its new Urban Rail Light Cloud, next-generation LTE-R, and 5G Digital Indoor System (DIS) solutions at the UITP Global Public Transport Summit 2019.
Advanced features of Huawei ‘s next-generation LTE-R solution include multiple trunking services such as Mission Critical Push-to-Talk (MCPTT) voice, video, and data, leveraging one LTE-R network that enables passenger information system (PIS), train control & dispatching CCTV, and other rail services. Supporting 5G-oriented evolution and interconnectivity with GSM-R, the solution will enable a future of intelligent railways where all things are connected.
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