Market Highlights
The global passenger data system market is garnering vast traction. The market growth attributes to the superb benefits that these systems offer in improving transportation infrastructures. Besides, increasing smart city and transportation infrastructure upgrade projects drive the expansion of the market. Moreover, growing technological advances within the transport sector escalate market growth.
According to marketing research Future (MRFR), the worldwide passenger data system market is poised to make a valuation of roughly USD 21.39 BN by 2022, growing at a whopping CAGR of 23.17% throughout the review period (2016 to 2022). Rapid urbanization and ever-increasing population demand well-developed transportation infrastructures and futuristic systems to manage traveler information.
Moreover, the vast demand to counter rising security concerns at conveyance infrastructures accelerates market growth. Thanks to the rising, threatening situations in crowded areas, security protocols are tightened at every transport infrastructure, furnishing them with advanced equipment to make sure security. Resultantly, PIS implementations are rising, which may be a key growth driver for the expansion of the passenger data system market.
Conversely, the high cost of components and technical limitations are major factors projected to impede market growth. Technological advancements over the amount have upgraded these passenger information systems to an excellent deal.
Highly competitive, the PIS market appears fragmented thanks to the presence of several notable players. to realize a bigger competitive share, players adopt strategic initiatives like mergers & acquisitions, collaborations, expansions, and product/technology launch. Technology providers strive to develop PIS solutions which will deliver a set of application offerings, addressing the requirements at transport infrastructures.
These developers use time-tested methodologies and best practices to compile differing point systems and technologies into a security-rich, integrated environment that enhances resource planning, passenger experience, and asset management.
Major Players:
Players leading the worldwide PIS market are Passio Technologies, Inc. (US), General power company (US), Infax, Inc. (US), DTI Group (Australia), Huawei Technologies Co. Ltd (China), Cubic Transportation Systems (US), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd (India), and Neusoft Corporation (China), among others.
Industry/Innovation/Related News:
September 10, 2020 —– Connectpoint, Inc. (the US), a number one provider of transportation systems, announced receiving a five-year digital signage contract by King County Metro to put in smart city digital signs across the town. Connectpoint would be providing many smart city digital signs for the agency's RapidRide stations and transit centers. Connectpoint's cloud-based management system, CPAM, is specifically designed for the transit industry and implementable across all new digital information displays.
The new real-time passenger information signage from Connectpoint provides enormous messaging flexibility to reinforce overall communications strategy and customer experience. Additionally, the Connectpoint Digital stop solution offers static passenger information, installing at highly-trafficked bus stations, transit centers, and corridors across the town.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/passenger-information-system-market-2112
Passenger Information System Market Research Report: Information By Solution (Information Announcement System, Display System, Emergency Communication System, Infotainment System, Passenger Information Mobile Application and Others), Component (Multimedia Display, Networking Devices, Communication Devices, Sensors and Others), Services (Cloud Services, Professional Services and Integration Services), Transportation Mode (Roadways, Railways and Airways) and Region [North America, Europe, Asia-Pacific and Rest of the World (the Middle East & Africa and South America)] – Forecast till 2026
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