Global Passenger Information System Market Worth 45,679 Million USD by 2025 | CAGR 14.60% - Allied Market Research

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Jul 11, 2018, 07:01 ET

PORTLAND, Oregon and PUNE, India, July 11, 2018 /PRNewswire/ --

According to a recent report published by Allied Market Research, titled, "Passenger Information System Market by Component, Solutions, and Mode of Transportation: Global Opportunity Analysis and Industry Forecast, 2018-2025," the global passenger information system market was valued at $13,703 million in 2016, and is projected to reach at $45,679 million by 2025, growing at a CAGR of 14.60% from 2018 to 2025.

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Rise in demand for real-time transit information solutions for the passengers, increased adoption of smartphones, increased penetration of IoT solutions in transportation sector, and advancements in telecommunication offerings are anticipated to drive the growth of the global passenger information system market. In addition, surge in adoption of cloud and big data technologies is expected to create lucrative opportunities for the growth of the market. However, high cost associated with implementation, managing the passenger information and dearth of advanced infrastructure facilities among the developing economies of Asia-Pacific and LAMEA for installing these systems are anticipated to hamper the market growth during the forecast period.

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Based on mode of transportation segment, the roadway segment led the passenger information system market in 2016, and is projected to maintain its dominance in the future. However, the railway segment is expected to witness the highest growth, owing to its increased need of passenger information system to provide accurate and reliable updates to railway passengers before and throughout their journey.

The global passenger information system market was led by the North America in 2016, and is projected to maintain its dominance during the forecast period. However, the Asia-Pacific is anticipated to witness the fastest growth, registering a CAGR of 20.20% during the forecast period.

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KEY FINDINGS OF THE STUDY

The services segment is expected to exhibit significant increase in terms of revenue during the forecast period.
In 2016, the roadway segment accounted for the highest revenue among the other modes of transportation.
Passenger information display system generated the highest revenue in 2016.
Asia-Pacific is projected to exhibit substantial growth during the forecast period.

Some of the key players operating in the passenger information system market include Alstom, Cubic Corporation, Hitachi, Ltd., Indra, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, Teleste Corporation, Thales, and Toshiba Corporation.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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