Global Passenger Information Systems Markets, Forecast to 2027 - Assess the Most Lucrative Regional Markets, Modes of Transport, Components, System Types, and Locations

DUBLIN, Feb. 25, 2022 /PRNewswire/ -- The "Passenger Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global passenger information system market reached a value of US$ 21.2 billion in 2021. Looking forward, the market is projected to reach US$ 41.6 billion by 2027, exhibiting a CAGR of 11.7% during 2022-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

The escalating demand for reliable and accurate real-time transit information by passengers represents one of the key factors propelling the passenger information system market growth. Apart from this, a rise in the demand for intelligent transportation systems, in confluence with advancements in the telecommunication sector to enable faster data transfer capabilities, is also fueling the market growth.

Moreover, an increase in demand for intelligent transportation systems and a surge in the adoption of the Internet of Things (IoT), cloud and big data technologies in the transportation sector are driving the sales of passenger information systems across the globe.

At present, due to a significant rise in the cases of the coronavirus disease (COVID-19), lockdowns have been imposed by governments of various countries. They are promoting the adoption of social distancing measures to avoid the spread of the pandemic, which is negatively impacting the market growth. However, the market is anticipated to experience growth once normalcy is regained.

Key Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the global passenger information system market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on mode of transport, component, system type and location.

Breakup by Mode of Transport:

• Airways
• Railways
• Roadways

Breakup by Component:

• Hardware and Software
• Services

Breakup by System Type:

• Multimedia Displays
• Audio Systems
• Computing Systems
• Networking and Communication Devices
• Video Surveillance Systems
• Content Management System
• Others

Breakup by Location:

• On Board
• In Station

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Competitive Landscape

The report has also analysed the competitive landscape of the market with some of the key players being:

• Advantech Co. Ltd.
• Cisco Systems Inc.
• Cubic Corporation
• Hitachi Ltd.
• Huawei
• Indra Sistemas SA
• Infax Inc.
• Mitsubishi Electric Corp.
• Passio Technologies
• Siemens
• Teleste Oyj

Key Questions Answered in this Report

• How has the global passenger information system market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global passenger information system market?
• What are the key regional markets?
• What is the breakup of the market based on the mode of transport?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the system type?
• What is the breakup of the market based on the location?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global passenger information system market and who are the key players?
• What is the degree of competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/d8cbwj

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SOURCE Research and Markets