The passenger information systems market is anticipated to increase at a CAGR of 21.84% for the forecast period, from US$7.522 billion in 2020 to a total market value of US$29.99 billion by 2027.
The Passenger Information System, or PIS, is the operating tool in charge of presenting visual and aural information to passengers at stations and transfer facilities at all times, either automatically or manually. A passenger information system (PIS) is the channel of communication between a transit service and its clients. It allows for the transmission of trip itinerary information, timely announcements, and real-time vehicle position and status updates. Along with these capabilities, it prioritizes increasing the user experience by entertaining them with infotainment systems. These devices can also be mounted inside a bus, rail, or plane, as well as on a platform. As the demand for transit agencies to deliver accurate and trustworthy real-time transit information grows, the market for passenger information systems is rising. However, due to insufficient infrastructure in many regions, these cutting-edge passenger information systems cannot be linked. Furthermore, the commercial penetration of these systems in some locations is hampered by their high implementation and management costs.
Smartphone adoption is expected to boost market expansion
The development of faster data transfer capabilities in the telecommunications industry, the growing acceptance of lot in the transportation sector, and the rise in demand for intelligent transportation systems are the key reasons driving the market’s progress. Apple generates significant profits from their mobile ecosystems, with extremely high margins and returns on capital used. Apple made $67.1 billion in profit globally in 2020, and recent disclosures in the annual report 2021 show that this increased to $109.2 billion in 2021. As smartphone use grows, information systems are gaining ground swiftly through mobile applications. PIS mobile applications are also promoted by transit authorities to attract clients and provide them with quick, accurate real-time information via smartphone channels. For instance, On November 2, 2022, Delhi’s Transport Minister introduced a redesigned version of the ‘One Delhi’ app, an all-in-one mobile app for navigating public transportation in Delhi. The primary goal of developing the ‘One Delhi’ app is to make bus services more reliable by providing capabilities such as live tracking of over 7300 buses and determining the precise waiting time of buses at bus stops. Furthermore, information regarding bus routes on the app will allow customers to plan their journey more reliably. The Delhi Government collaborated with the Indraprastha Institute of Information Technology (IIIT) Delhi to create the smartphone app. The introduction of multi-modal transit apps for public transportation is also beneficial to market growth.
Expanding the utilization of cloud and big data technologies to drive market growth
The use of cloud computing facilitates the automation of different modes of transportation, particularly trains and airplanes. The passenger information system uses cloud computing technology to track the bus’s location, which is then displayed on the real-time information system at the bus stop. Cloud technologies and data analytics tools provide cost-effective passenger population monitoring and high-efficiency resource allocation. Market participants are extensively investing in research and development to develop cutting-edge passenger information systems that can be coupled to pre-existing infrastructures of varied sizes. For instance, DXC Technology signed a multiyear agreement with Copa Airlines, a leading Latin American aircraft carrier, in December 2021, to update the mainframe-based Passenger Service System (PSS) and transfer it totally to the public cloud with no business disruption. The transformative endeavour is being led by DXC in partnership with its strategic partner Microsoft and Copa. The new platform will completely support third-party application integration in Copa’s IT ecosystem, allowing the airline to improve consumer and employee experience. These solutions are becoming more commonly used, which is supporting market growth in a variety of areas around the world.
System for Displaying Passenger Information at Railway Stations
Passenger Information Display Systems (PIDS) are digital information systems that provide passengers with real-time information. Train operators are always working to increase customer happiness by providing more than simply arrival and departure times. For instance, With the launch of the first new X-car on the U1-U4 lines in 2022, another innovation debuted on the Vienna metro system’s rails: the world’s first digital passenger information and guidance system of its sort. Siemens Mobility, a Siemens subsidiary that redefines mobility through intelligent infrastructure, sustainability, passenger experience, and availability, has developed an innovative digital passenger information and guidance system for the Vienna metro system in collaboration with Wiener Linien, the company that operates the majority of the public transit network in the city of Vienna, Austria. Inside the vehicle, screens above each train door offer real-time information on further routes and connections at the next station. Additional information, such as the current status of other metro lines or out-of-service elevators, can also be presented on both sides of the car. The new passenger information system provides all important information to travellers at the exact moment they require it. Apart from that PIDS also provides news, entertainment, and safety and emergency announcements, among other things. Advertising is a key revenue stream for railway operators these days, which is why PIDS are becoming increasingly crucial.
The World Health Organization (WHO) declared a public health emergency in response to the widespread COVID-19 disease. The governments’ declarations of shutdowns travel bans, and quarantine measures have harmed the economies and industries. A similar downward trend is projected in the rail and public transportation industries. Temporary market ramifications were observed as a result of this impact. However, with the removal of global regulations on the travel sector and public transportation networks, the utility of passenger information systems is expected to increase. Global passenger traffic recovered marginally in 2021, according to the latest ICAO economic impact estimate of COVID-19 on civil aviation, which was published in January 2022, with the number of passengers globally increasing from the 60% decline witnessed in 2020. Furthermore, the United Nations predicted that, due to urbanization, metropolitan areas will see an increase in the usage of public transportation such as transit buses, rail, and metro by 2030. The increasing number of travellers and passengers, as well as the expansion of public transportation infrastructure globally, are expected to drive market growth of Passenger Information System.