Passenger Information System Market Growing at a CAGR 11.2% | Key Player Advantech, Alstom, Wabtec, Cubic, Siemens

June 15 19:29 2022
Passenger Information System Market Growing at a CAGR 11.2% | Key Player Advantech, Alstom, Wabtec, Cubic, Siemens
Advantech (Taiwan), Alstom (France), Wabtec (US), Cubic (US), Cisco (US), Siemens (Germany), Hitachi (Japan), Huawei (Japan), Thales (France), Teleste (Finland), Televic Rail (Belgium), Mitsubishi Electric (Japan), ST Engineering (Singapore), DYSTEN (Poland), Lunetta (India), r2p (Germany), Indra (Spain), ICON Multimedia (Spain), Passio Technologies (US).
Passenger Information System Market by Component (Solutions and Services), Location (On Board and In Station), Transportation Mode (Railways (Trains and Trams), Roadways, and Airways and Waterways), and Region – Global Forecast to 2026

The Passenger Information System Market size is projected to grow from USD 24.1 billion in 2021 to USD 41.0 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. The major factors driving the growth of the Passenger Information System (PIS) market include the include the rise in demand for intelligent public transportation systems, including real-time transit information of passengers, extensive usage of smartphones and other handheld devices with increased connectivity, increase in the usage of advertising and information systems, advancements in the technological landscape to enhance the passenger experience, and a surge in urban population and traffic in public transportation systems.

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Based on solutions, the mobile applications solutions segment to grow at a higher CAGR during the forecast period

Mobile applications are a new channel for delivering services to help passengers get through the whole process of their journey, starting from buying the ticket to checking in, boarding planes, arriving at their destination, and making their luggage available for them at the other end. Mobile applications are also increasingly deployed in every mode of transportation. In airlines and airports, mobile applications act as a key medium of knowing the entire travel information and helps to have a more personalized service for passengers. Mobile applications can be used to offer real-time transit information to passengers. These applications make transit services more accessible and reliable for new passengers and can encourage people to use public transport

Based on location, the on board segment is expected to lead the market during the forecast period

The on board location is projected to dominate the global PIS location market in terms of market share. The exponential increase in smartphone usage and advancements in network infrastructure enables transport authorities to provide timely status and updates on board in a cost-effective way. These advancements are projected to drive the demand for PIS solutions for On board locations. The PIS on board segment is projected to account for a larger market size during the forecast period. On board, PIS solutions and services can be used to inform passengers about the next/previous stations or stops and provide advanced vehicle information, such as precise arrival and departure information. On board, PIS consists of LCD displays, a public-address system, and emergency intercoms. LCD displays are text-only and advanced LED displays for entertainment purposes.

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Major Passenger Information System (PIS) vendors include Advantech (Taiwan), Alstom (France), Wabtec (US), Cubic (US), Cisco (US), Siemens (Germany), Hitachi (Japan), Huawei (Japan), Thales (France), Teleste (Finland), Televic Rail (Belgium), Mitsubishi Electric (Japan), ST Engineering (Singapore), DYSTEN (Poland), Lunetta (India), r2p (Germany), Indra (Spain), ICON Multimedia (Spain), Passio Technologies (US), LANCom (Slovenia), Simpleway (Czech Republic), EKE-Electronics (Finland), Medha Servo Drives (India), Quester Tangent (Canada), and LOT Group (Ukraine). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2019 to 2021, which helped companies innovate their offerings and broaden their customer base.

Cubic (US) is one of the leading vendors in the Passenger Information System (PIS) market. Cubic designs and integrates products and services in the transportation, communication, surveillance, and defense training markets. Cubic offers NextBus, a cloud-based solution that provides real-time PIS to over 100 transit agencies, organizations, institutions, and airports and serves more than 300 million travelers each year. NextBus empowers transport operators with accurate information, simplifies operations, and enhances the traveler experience by offering arrival information options, including applications for mobile devices, full-featured websites, and signage. The company focused on both the organic and inorganic growth strategy to enhance its position in the Passenger Information System (PIS) market. For instance, in January 2021, Cubic launched Umo, a fully integrated suite of platforms for riders, transit agencies, and mobility service providers to complement its existing portfolio of transportation technology. In Januray 2020, Cubic and Moovit, one of the leading Mobility-as-a-Service (MaaS) solutions companies and providers of the popular urban mobility application, have partnered to co-develop the next-generation mobile solutions for public transit agencies.

Advantech (Taiwan) is another provider of Passenger Information System (PIS) solution and service across the globe. The company offers intelligent transportation systems that support railway automatic fare collection, railway signaling, rolling stock, and station management system. Through this offering, the company is enabling intelligent transportation systems to develop smart city solutions. The company majorly focuses on inorganic growth strategies to improve its place in the Passenger Information System (PIS) market. For instance, in December 2020, Advantech and VinBus Ecology Transport Services Limited Liability Company (VinBus) signed a strategic cooperation contract on the development of the intelligent electric bus management system. With AIoT solutions, VinBus electric buses would be the first public passenger transport equipped with AIoT technology to improve safety and provide convenient services to customers. As a part of the agreement, VinBus and Advantech Vietnam worked together to promote business cooperation activities and support each other in terms of technology platforms and technical facilities in the intelligent electric bus management system, including solutions, such as fleet management, route management, PIS, fleet safety system, driver behavior management, battery management, and passengers Wi-Fi service.

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