Passenger Information System Market is Expected to Reach $45,679 Million Globally by 2025

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Asia-Pacific expected to grow at highest CAGR due to increased penetration of IoT among transportation industry demand for intelligent transportation system

PORTLAND, PORTLAND, OR, USA, March 3, 2022 /EINPresswire.com/ — Rising demand for real-time transit information solutions for passengers, increased adoption of smartphones, increased penetration of IoT solutions in the transportation industry, and advancements in telecommunications are expected to drive the growth of the global market passenger information systems market.

According to the mode of transport, it is fragmented into air, rail and road. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Rising passenger demand for accurate, real-time transit information, advancements in the telecommunications sector to provide faster data transfer, and increased adoption of cloud and big data technologies in the transport sector are driving the demand for the PIS market.

Additionally, the surge in adoption of cloud and big data technologies is expected to create lucrative opportunities for market growth. However, the high costs associated with implementation, passenger information management and the lack of advanced infrastructure among developing economies in Asia-Pacific and LAMEA for installing these systems are expected to hamper the market growth over the forecast period.

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Key Results of the Passenger Information System Market:

• The services segment is expected to show a significant increase in terms of revenue over the forecast period.

• In 2016, the road segment represented the highest income among other modes of transport.

• The passenger information display system generated the highest revenue in 2016.

• Asia-Pacific is expected to show substantial growth over the forecast period.

Some of the key players operating in the passenger information system market include Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, and Toshiba Corporation.

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