The newest research report from Report Ocean, titled “Passenger Information System Market ” Size, Share, Pricing, Trends, Growth, Opportunities, and Forecast 2023-2030,” presents a comprehensive analysis of the global market. This report offers a detailed examination of future revenue projections, market demands, regional analysis, and other crucial information about the target market, including drivers, restraints, opportunities, and threats. Additionally, the report provides insights into the key companies operating in the market, supply chain trends, financials, significant developments, and technological innovations. It also encompasses future strategies, acquisitions, and mergers that may impact the ASRS industry.
The passenger information system (PIS) is a solution, which provides relevant real time information to the passengers regarding the status of transportation mediums such as airplanes, trains, and buses. Passenger information system is the operating tool responsible for providing visual and audio information to passengers at stations and other transfer facilities. It includes information management related to routes through various platforms such as screens, indicator panels, and others. Moreover, it can be accessed from many channels such as internet-connected devices, computers, and phones. Web application for PIS displays real-time schedule information, and trip planning tool for the passengers can be accessed from any internet-connected device at real time.
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The growth of the passenger information system market is driven by the factors such as the need of transit agencies to keep passengers informed about their journey, increased adoption of IoT solutions in the transportation sector, surge in adoption of intelligent transportation systems, and rapid increase in the mobility solutions. In addition, development of the telecommunication sector has resulted in advanced data transfer capabilities, which propel the growth of this market. Moreover, growth in transportation sector and upsurge in demand of passengers to have real-time transit information drive the growth of the PIS market.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
However, dearth of advanced infrastructure facilities to install passenger information system and high cost associated with implementation & management of these systems hamper the growth of this market. On the contrary, adoption of cloud and big data technologies among developing economies is expected to create great opportunities for the market during the forecast period.
The global passenger information system market is segmented based on component, solutions, mode of transportation, and geography. By component, the market is divided into hardware, software, and service. On the basis of solution, it is categorized into information display system, announcement systems, infotainment systems, passenger information mobile applications and emergency communication systems. Depending on mode of transportation, it is classified into airway, railway, and roadway. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
KEY BENEFITS
The study provides an in-depth analysis of the global passenger information system market along with current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
Quantitative analysis from 2016 to 2025 is provided to determine the market potential.
KEY MARKET PLAYERS
Alstom
Cubic Corporation
Hitachi, Ltd.
Indra
Mitsubishi Electric Corporation
Siemens AG
Singapore Technologies Electronics Limited
Teleste Corporation
Thales
Toshiba Corporations
KEY MARKET SEGMENTS
BY COMPONENT
Hardware
Software
Service
BY SOLUTION
Information Display System
Announcement System
Infotainment System
Passenger Information Mobile Applications
Emergency Communication Systems
BY MODE OF TRANSPORTATION
Airway
Railway
Roadway
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BY REGION
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Report Scope:
- This report provides a comprehensive segmentation of the market, offering the closest approximations of revenue for the overall market and its sub-segments across different verticals and regions.
- The report enables stakeholders to understand the market’s dynamics and provides valuable information on key drivers, restraints, challenges, and opportunities.
- Stakeholders can gain a better understanding of their competitors and acquire insights to improve their business position.
- The competitive landscape section includes the competitor ecosystem, new product development, agreements, and acquisitions.
Research Methodology:
Research Objectives: This section outlines the overall goals of the research study, including the research questions and hypotheses that will be addressed.
Research Design: This section describes the overall research design, including the research approach (e.g., quantitative, qualitative, mixed-methods), data collection methods (e.g., surveys, interviews, focus groups), and sampling strategy (e.g., random sampling, stratified sampling).
Data Collection: This section outlines the process used to collect data, including the sources of data (primary, secondary), the data collection instruments (e.g., survey questionnaire, interview guide), and the data collection procedures (e.g., data cleaning, coding, entry).
Data Analysis: This section describes the analytical methods used to analyze the data, such as statistical tests, qualitative coding, or content analysis.
Limitations: This section outlines the limitations of the study, including any potential biases, sources of error, or limitations in the data.
Ethical Considerations: This section describes any ethical considerations that were taken into account during the research process, such as obtaining informed consent from participants, protecting participant confidentiality, and minimizing any potential harm to participants.
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