The Global Passenger Information System Market size is expected to reach $38.1 billion by 2024, rising at a market growth of 14.1% CAGR during the forecast period

LONDON, August 22, 2018 /PRNewswire/ -- The Global Passenger Information System Market size is expected to reach $38.1 billion by 2024, rising at a market growth of 14.1% CAGR during the forecast period.

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Passenger information system is a set of IT systems and hardware components which are used to provide real-time information to passengers about the state and nature of a transport service through voice, visual, and media devices. The demand for passenger information system has witnessed tremendous growth during the forecast period. The growth is due to growth in the air traffic, rapid adoption of IoT solutions in the transportation sector, growing demand for real-time transit information by passengers and rapid adoption of intelligent transportation systems.

Based on the component, the market is segmented into Hardware, Software and Services. Based on Mode of Transportation, the market is segmented into Roadway, Railway and Airway. Based on Solution Type, the market is segmented into Information Display System, Announcement System, Passenger Information Mobile Applications, Infotainment System and Emergency Communication Systems. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alstom SA, Cubic Corporation, Hitachi, LTD., Mitsubishi Electric Corporation, Siemens AG, Thales Group S.A., Toshiba Corporation, Singapore Technologies Electronics Ltd., Teleste Corporation and Indra.

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