Technological Advancements and Innovations to Drive Passenger Information System Market Growth, says Market.us

Transit agencies must provide accurate and dependable transit information to passengers. As a result, the market for this service is growing. Furthermore, passengers and travelers increasingly use mobile devices and the internet to find vital information for safe travel quickly.

Furthermore, the number of passenger journeys made on public transport worldwide is increasing annually due to an expanding transport infrastructure around the world. This will further exacerbate the demand for passenger data systems.

According to Market.us, “The Passenger Information System Market is projected to reach a valuation of USD 78.70 Billion by 2032 at a CAGR of 11.5%, from USD 26.5 Billion in 2022.” 

Asia Pacific is expected to become the fastest-growing region in the market over the coming years. Public and private players within this region have a major role to play in digitizing transport services and upgrading its IT systems.

As part of China or India’s Smart Cities initiatives, most transport sector departments have implemented a passenger data system to create an integrated transportation ecosystem. There is a growing demand for such systems due to an increase in foreign travelers and public transport ridership throughout these regions.

Anurag Sharma, a senior research analyst at Market.us, said, “The market demand for passenger information systems is expected to expand due to an increasing number of companies providing accurate and consistent travel data. Factors driving growth include the increasing use of the internet and mobile devices as well as travelers’ need for factual data to guarantee safe journeys and improved connectivity.”

Due to the COVID-19 outbreak, it’s likely that demand for passenger information systems will decrease significantly. Due to travel bans, quarantine restrictions, lockdowns, etc., market conditions were adversely impacted. As most countries have implemented isolation policies, there has been a marked reduction in transportation activity.

Passenger information systems (PISs) offer passengers details about the transportation mediums they are taking, such as planes and trains, as well as their current location.

According to the International Civil Aviation Organization (ICAO), worldwide passenger travel reached 4.3 billion in 2018, 6.4% more than in 2017. The United Nations forecasts that by 2030 urban areas will increasingly rely on public transport like metros, rail systems, and transit buses for travel. 

Market growth will likely be spurred by growing traveler and passenger numbers as well as improvements to public transportation infrastructure around the world.

As our world becomes more interconnected, rail and bus companies must ensure their services remain attractive to passengers and travelers. A growing need for reliable, consistent, and timely information has driven up passenger expectations.

They require accurate information regarding key parameters like arrival and departure times, connections, alternate routes or disruptions, as well as onboard services. The digitization of transit operations is a response to passengers’ increasing needs; this will propel the market’s expansion over the coming years.

The most powerful drivers of the next industrial revolution in transportation are machine learning, AI, big data, and the Internet of Things. IoT, machine learning technologies, AI, and machine learning will be integrated into passenger systems while improving connectivity and disseminating transit information.

Transport IT solution providers strive to offer the most up-to-date information channels and dynamic passenger data in order to gain an edge in a competitive market. Innovation in Traffic Systems SE’s (INIT) Departures Live app serves this need by supporting cross-media communication for real-time passenger and emergency information.

Market growth is expected to be fuelled in part by government initiatives for the development and upkeep of smart cities. In 2018, the U.S. Department of Transportation invested more than USD63.0 billion into major transportation infrastructure projects.

Data security and privacy are paramount considerations for all organizations. Information storage, transmission, and transfer must be secure digitally to avoid potential roadblocks in the market growth process such as resource-intensive data collection processes or difficulties coordinating data sharing between multiple public transportation departments and organizations.

Passenger Information System Market Key Players:

• Advantech Co., Ltd.
• Alstom
• Cisco Systems, Inc.
• Cubic Transportation Systems
• Hitachi, Ltd.
• Huawei Technologies Co., Ltd.
• Siemens AG
• TE Connectivity
• Thales Group
• Wabtec Corporation