during the forecast period. The major factors driving the growth of the Passenger Information System (PIS) 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.
New York, May 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Passenger Information System Market by Component, And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05877921/?utm_source=GNW
Based on component, the solutions segment is expected to lead the Passenger Information System (PIS) market during the forecast period
The PIS solutions not only provide passengers with real-time information but with several other features, such as passenger/public announcements, emergency notifications, infotainment, and global positioning system (GPS)-based applications.PIS solutions are highly advanced, and these solutions are not just limited to a person waiting at the station or airport.
Information can be accessed by passengers on-the-go with the help of advanced networking, communication technologies, and appropriate applications. These solutions might be helpful in emergency or incident management as critical information can be delivered over the network in real-time.
Based on location, in station segment is expected to grow at a higher CAGR during the forecast period
The in station segment is projected to gain traction in the coming years, as there is a growing need to display real-time vehicle information across stations and airports.PIS is a digital information system that displays real-time information for passengers.
PIS vendors are constantly focusing on improving passenger satisfaction by offering more than just arrival and departure timings.They also offer In station news and entertainment content, as well as safety and emergency announcements.
PIS at stations or bus stops can be used to display the number of passengers waiting for the next vehicle’s route and destination. Integrated PIS solutions are computer-based systems to provide audio and visual information to passengers through multiple displays, spanning over the entire station.
Based on transportation mode, railways segment is expected to lead the Passenger Information System market during the forecast period
The growth in the number of megacities and the population in developed and developing countries has led to an increase in the importance of deploying PIS solutions and services across the globe.After airways, railways are the second-fastest mode of transportation.
An increase in the number of travelers is choosing rail services to reduce the time spent in traffic congestions on roads.As a result, the demand for railway services has increased, and governments across the world are increasing their investments in this segment to provide advanced services for the public, as well as understand the requirements of passengers.
Many railway services have started using cloud computing and big data analytics to provide real-time information to commuters and increase ease of travel.
APAC is expected to grow at a higher CAGR during the forecast period
APAC is the fastest-growing region in the Passenger Information System (PIS) market; this growth can be attributed to the due to the increase in adoption of new technologies, rising investments for digital transformation, and growing GDP in APAC countries.A majority of the potential economies in the region include Australia, Singapore, China, Korea, Hong Kong, and India, which are rapidly investing in technological transformations.
The competition in this region is fragmented, and PIS solution providers are looking at expanding the base of their operations to most countries in the region.The rapidly emerging transport sector, increase in the number of buses and rails that require PIS solutions, government initiatives to increase the transport services in APAC, rise in adoption of real-time information systems in the transport segment, developing waterways for everyday transport, technological advancements, and a surge in digitization in the region are the key factors that are projected to drive the PIS market growth at the highest rate during the forecast period.
Also, the increased government spending on metro rail projects and the rising number of passengers traveling via public transport in the APAC region have contributed to the growth of the PIS market.
• By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
• By Designation: C-level – 38%, Directors – 30%, and Others – 32%
• By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA – 5%, Latin America– 5%.
Some prominent players profiled in the study include Advantech Co., Ltd. (Advantech), Alstom (Alstom), Wabtec Corporation (Wabtec), Cubic Corporation (Cubic), Cisco Systems, Inc. (Cisco), Siemens AG (Siemens), Hitachi, Ltd. (Hitachi), Huawei Technologies Co., Ltd. (Huawei), Thales Group (Thales), Teleste Corporation (Teleste), Televic Rail (Televic), Mitsubishi Electric Corporation (Mitsubishi Electric), ST Engineering (ST Engineering), DYSTEN Sp. z o.o. (DYSTEN), Lunetta (Lunetta), R2P GMBH (r2p), Sistemas, S.A. (Indra), ICON Multimedia S.L. (ICON Multimedia), passiotech.com (Passio Technologies), LANCom Systems GmbH (LANCom), Simpleway Europe a.s. (Simpleway), EKE-Electronics Ltd (EKE-Electronics), Medha Servo Drives Private Limited (Medha Servo Drives), Quester Tangent (Quester Tangent), and LOT Group (LOT Group).
The market study covers Passenger Information System (PIS) market across different segments.It aims at estimating the market size and the growth potential of this market across different segments, such as component (solutions and services), location (on board and in station), transportation mode (railways, roadways, airways, and waterways), and regions.
The solutions segment is further segmented into display systems, announcement systems, emergency communication systems, mobile applications, infotainment systems, and others (passenger counting systems and video monitoring systems).The services segment is further segmented into consulting, deployment and integration, and support and maintenance.
The regional analysis of the Passenger Information System (PIS) market includes North America, Europe, APAC, the MEA, and Latin America. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall Passenger Information System (PIS) market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05877921/?utm_source=GNW
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