The passenger information system market is projected to witness the growth at a CAGR of XX.XX% during the forecast period to reach a total market size of US$XX.XX billion by 2023, increasing from US$XX.XX billion in 2017. Growing transportation across the globe is driving with it the demand for passenger information system to increase the efficiency of the overall system. Huge amounts are being spent by the governments into modifying the transportation infrastructure. Market players are also making heavy investments into research and development to develop advanced passenger information systems which can be integrated into existing infrastructures of various sizes. Increasing adoption of these solutions is boosting their market growth in many regions across the globe. However, poor infrastructure in many regions is incapable of being integrated with these advanced passenger information systems. Moreover, high cost of implementing and managing these systems is restraining their market growth in some regions.
North America and Europe hold a major share in the global market on account of state-of-the-art infrastructure and presence of many key players in these regions. The market in Asia Pacific is expected to grow at the highest CAGR over the projected period owing to huge investments being made by market players in these regions. Increasing spending by governments in these regions to evolve their existing transportation infrastructure can be seen as another major factor driving the market growth in this region over the projected period.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook; key industry and regional regulations which are determining the product specifications and a brief technological aspect of Passenger Information System. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section
Passenger information System market has been segmented as follows:
By Modes of Transportation
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Advantech Co., Ltd, Cubic Corporation, Huawei Technologies and Cisco among others.