ID: MRFR/ICT/1576-CR | November 2020 | Region: Global | 147 pages
The Passenger Information System (PIS) Market, by 2026, is assumed to achieve 32,714.6 Million USD and would register a compound annual growth rate of no less than 12.4% during the course of the assessment period i.e. from 2020 to 2026.
Passenger Information System Market COVID-19 Analysis:
The increasing number of COVID-19 cases has posed a huge effect to the transportation industry that in turn had caused harm to the Public Information System Market Growth. As a great majority of the governments are offering strict rules for isolation practices, therefore there’s a prominent decline in the utilization of all modes of the transportation system. Moreover, the projects based on electric vehicles have been temporarily paused, and various companies and manufacturers have shifted their concentration to the manufacturing of ventilators as ventilators are experiencing huge demand.
The application of information technology is opening better scopes better scopes of revenue by offering real-time tracking of the transportation systems and offering to monitor feeds to the passengers. Also, the monitoring feed assists to check the travel history of the passenger so that they can make sure whether or not they require to be quarantined. Moreover, various companies are utilizing drones as an alternative mode of transportation to make sure food deliveries and essential supplies. The latest technologies are aimed to decrease cross-infection by offering home delivery of meals and drugs via robots and drones.
Railways, as one of the most important transportation modes of the passengers, can offer independent and safe compartments in which a limited number of passengers can travel to ensure social distancing measures. Moreover, by tracking the travel history of the passengers in the unique compartments, rails can offer information to detect the passengers who might be exposed to the COVID-19 during the course of their journey.
Passenger Information System Market Dynamics:
There are various key drivers of the Passenger Information System (PIS) Market like the rising adoption of the private cloud and an increasing number of software-defined information centers. However, some of the prominent players in the Passenger Information System (PIS) Market pose a huge challenge to the other existing players. Moreover, the rising utilization of cloud-based tools and technologies provides various market scopes for the software-defined network players of the wide-area to offer understandable networking services to the market players of cloud computing.
The security issues in the public transportation sector are rising rapidly. Therefore, effective control and management of crowds in this public transportation sector have become a crucial paradigm for every security operative irrespective of the region. The reason behind the growth of Passenger Information System Market Size is to avoid any sort of threatening issue in the crowded public areas.
Therefore, the growth of Passenger Information System Market Size is fundamental for the proper estimation of the number of people traveling to a particular area, based on which the counter plan could be framed when the limitation surpasses. Another reason behind the growth of Passenger Information System Market Size is its wide range of potential applications like video analytics and video surveillance for public transport buses, railways, and airports.
In recent times, there has been a great rise in the total number of passengers, with various people traveling to unique places for their business, leisure activities, or jobs. Therefore, various governments have introduced a new set of rules to limit the maximum capacity of any public transport system. However, to ensure that the rules are being actually followed, there is the necessity of the Passenger Information System Industry for avoiding the breaking of these laws. Also, during any emergency incident like assaults, bomb threats, or hijacking in any category of public transport, Passenger Information System Industry can promptly and accurately locate the particular vehicle. Therefore, the rising security issues in the public transport sector are influencing the growth of the Passenger Information System Industry.
Cumulative Growth Analysis:
According to the Passenger Information System Market Revenue, the display systems classification under the solution category would earn the largest Passenger Information System Market Share. Also, the passenger information mobile application division is assumed to register maximum Passenger Information System Market Revenue by no less than 14.3% CAGR.
Also, the networking devices division under the component segment is assumed to earn the highest Passenger Information System Market Revenue in the year 2018 and is assumed to register the maximum CAGR during the assessment period.
Moreover, the integration system division under the services segment is assumed to account for maximum Passenger Information System Market Share. Also, the cloud computing division is assumed to expand at the maximum CAGR during the course of the study period.
Also, based on the Passenger Information System Market Trends, the railway division is assumed to account for the highest Passenger Information System Market Share. Also, the roadways division is assumed to expand at the maximum CAGR during the course of the assessment period i.e. from 2020 to 2026.
Passenger Information System Market Segmentation:
On the basis of worldwide Passenger Information System Market Growth, this market can be segmented depending on the component, transportation mode, solution, region, and services.
Based on Component, the Passenger Information System Market Growth can be segmented into:
By Transportation Mode:
Depending on Transportation mode, the Passenger Information System Market Growth can be segmented into:
Based on solution, the Passenger Information System Market Growth can be segmented into:
Depending on the region, the Passenger Information System Market Trends can be classified into:
Based on services, the Passenger Information System Market Trends can be segmented into:
Passenger Information System Market Regional Analysis:
Based on the analysis of Passenger Information System Market Demand in various regions, it has been assumed that North America would hold the most significant PIS market share. Also, the U.S. is the largest PIS market and the key drivers behind the growth of this market are the good amount of investments made in the government-supported infrastructural projects and also the efficient passenger information system services.
Also, Asia Pacific is another major market player as this region is facing a significant Passenger Information System Market Demand. The main reason behind this is that the Asia Pacific region consists of a prominent number of potential and developing countries like Japan, India, and China. Moreover, these countries are undergoing prominent development in the field of infrastructural alterations and digitization. Therefore, these countries are creating attractive PIS market opportunities for the vendors in this field.
The remaining world segment consists of the Middle East, African regions, and South America. The Passenger Information System Market Demand in all these regions has experienced a prominent rise. Considering the overall scenario, the remaining world segment is assumed to grow at a CAGR of 12.6% during the course of the assessment period.
The Marker Research Report related to the Passenger Information System Market Forecast offers the vendors and governments of the different regions the understanding of the PIS market opportunities and also its importance. Moreover, the Passenger Information System Market Forecast also provides the estimated growth rate at various regions during the study period i.e. from 2020 to 2026. Also, it has considered the impacts of the COVID-19 pandemic in the various spheres of the PIS industry. Based on this Passenger Information System Market Forecast, the growth of the PIS market by 2026 would be no less than 12.4% CAGR.
Scope of report and segmentation table:
Frequently Asked Questions (FAQ) :
Global Passenger Information System Market is projected to reach market value of USD 21.39 billion by 2022 growing with 23.17% CAGR
In 2016, the passenger information system market was valued at USD 6.12 billion
Passio Technologies, Inc., General Electric Company, and Huawei Technologies Co. Ltd are the top players in passenger information system market
North America is expected to hold the highest market share in the passenger information system market