Rapid advancements in technological solutions have enabled better connectivity of objects, resulting in the development of smarter ecosystems and improved PIS market.
PORTLAND, PORTLAND, OR, USA, Sept. 30, 2022 /EINPresswire.com/ — Allied Market Research has released a new report, titled “Passenger Information System Market Size Worth USD 45.679 Million by 2025 | CAGR: 14.6%: AMR”. “The report offers an in-depth analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces Analysis, and competitive landscape. This study is a valuable source of information for players in the market, investors, VPs, stakeholders and new entrants to gain an in-depth understanding of the industry and determine the steps to take to gain competitive advantage.
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Rising demand for real-time transit information solutions for passengers, increased adoption of smartphones, increased penetration of IoT solutions in the transportation sector, and advancements in telecommunications offerings are expected to boost the growth of the global passenger information systems 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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Based on the transportation mode segment, the road segment dominated the passenger information system market in 2016 and is expected to maintain its dominance in the future. However, the rail segment is expected to experience the greatest growth, due to its increased need for passenger information system to provide accurate and reliable updates to rail passengers before and throughout their journey.
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The global passenger information system market was dominated by North America in 2016 and is expected to maintain its dominance over the forecast period. However, Asia-Pacific is expected to experience the fastest growth, registering a CAGR of 20.20% during the forecast period. Some of the major 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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Main results of the study
• 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.
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Finally, this report provides market insights in the most comprehensive way. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market.
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