International Association of Public transport (UITP), in one of its statistics stated that almost 60 billion passenger journeys have been made by public transport every year in the European Union. Additionally, long distance rail accounted for 1 billion passenger journeys and commercial aviation for 800 million. Furthermore, ridership evolution for metro railways around the globe peaked to 53,768 million passengers in the year 2017 from 45,051 million passengers in the year 2012.
Research Nester has released a report titled “Passenger Information System (PIS) Market – Global Demand Analysis & Opportunity Outlook 2027″which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The statistics portray the expansion of public transportation systems worldwide along with the increase in public commutation services. Owing to such a factor, aided with the advent of smartphones, there is a rising need amongst passengers commuting to have real-time accurate transit information. Benefitted by the rise in the mobile subscribers worldwide, transit agencies are providing transit information via multi-modal transit app for public transport to the passengers. Rising demand for transit agencies to deliver reliable and accurate real-time transit information to passengers coupled with the advent of smartphones and the need amongst the passengers for better connectivity information, all of these factors together are anticipated to contribute significantly towards the global passenger information system market.
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The global PIS market is anticipated to record a CAGR of around 15.27% during the forecast period, i.e. 2019-2027. The market is segmented by transportation mode into railways, airways and roadways. Among these segments, railways segment is anticipated to hold the largest market share on the back of growing railway projects worldwide, which will also raise the need for the deployment of PIS. Additionally, rising investments for new metro lines projects is also considered to act as a key driver for the growth of the segment in the global PIS market during the forecast period. UITP, in one of its statistics stated that automated grade metros around the world is estimated to reach 807 kms in the year 2022 from 103 kms in the year 2017.
Geographically, the global PIS market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, North America is anticipated to hold largest market share owing to increasing focus from private and public sectors by investing heavily for the development of transport mediums in the region. Bureau of Transportation Statistics, U.S. Department of Transportation, in one of its statistics stated that in the year 2017, a total of USD 2931.10 billion was invested for transportation. Additionally, Asia Pacific is anticipated to gain significant market share owing to rising metro railway projects in the region and new metro railway openings. UITP, in another statistics stated that during the decade 2010-19, 33 numbers of metro system opening (per decade) was observed in the Asia Pacific region.
However, concerns for the lack of advanced technical infrastructure required for the deployment of passenger information systems across nations is estimated to act as a barrier to the growth of the global PIS market.
This report also studies existing competitive scenario of some of the key players of the global PIS market, which includes profiling of Alstom SA (EPA: ALO), Cubic Corporation (NYSE: CUB), Hitachi, Ltd. (TYO: 6501), Indra Sistemas SA (BME: IDR), Mitsubishi Electric Corporation (TYO: 6503), Siemens AG (ETR: SIE), Singapore Technologies Electronics Limited, Teleste Corporation (HEL: TLT1V), Thales Group (EPA: HO), and Toshiba Infrastructure Systems & Solutions Corporation.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Passenger Information System (PIS) Market – Global Demand Analysis & Opportunity Outlook 2027″, analyses the overall global passenger information system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global passenger information system market in the near future.
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