Passenger Information System Market Revenue to Hit US$42 Bn in 2026, Projects a New Fairfield Market Research Study

April 2022

The International Civil Aviation Organization (ICAO) states that the total number of passengers travelling worldwide increased by 6.4% in 2018. Notably, passenger information systems bridge the gap between passengers and transit systems. As more people are migrating to urban areas, the use of public transportation has been magnified. The United Nations predicts a greater usage of public means of transport including rail, metro, and transit buses by 2030. Fairfield Market Research ascertains stellar growth of the global passenger information system market, reaching US$42 Bn in valuation by 2026.

As compared to the valuation of US$19.2 Mn in 2018, the market demonstrates steady growth prospects, maturing at a stellar CAGR of 11.9% between 2021 and 2026. Considering rampant urbanization, the number of travellers and passengers has surged at a record pace, presenting the need for expanding public transportation infrastructure. To this end, the global passenger information system market is brimming with significant opportunities.

Key Highlights of the Global Passenger Information System Market

  • The availability of affordable SaaS platforms is unlocking incremental opportunities for vendors in the market, enabling prompt uptake of passenger information solutions

  • By location coverage, the on-board market segment garnered worth US$14.5 Mn in 2020

  • During the base year of 2020, North America led the global market garnering worth US$8.2 Bn

Demand for Real-time Transit Information Unveils Positive Dynamics for Market Expansion

Intense competition has propelled rail and bus operators to establish differentiation in their services to lure more travellers and passengers. As the world is increasingly becoming more connected, passengers are looking for more on-time, safe and comfortable journeys. In this regard, real-time, precise, and reliable transit data have observed sharp spikes in demand. Passengers are clamouring for detailed information apropos to various crucial factors such as connections, arrival and departure timings, alternate routes, onboard amenities, and disruptions.

Against this backdrop, the demand for technologically advanced passenger information systems has grown by leaps and bounds. Futuristic communication technologies including AI, IoT, and machine learning are being leveraged to strengthen connectivity and fasten the speed of transmission of transit data.  Thus, these factors are bolstering the growth of the passenger information system market.

North America Dominance Remains Intact with Robust Investments in Intelligent Transportation Systems

North America endows tremendous growth potential, taking the lead in the global passenger information system market. In 2019, the region assimilated over 30% of the market share, shedding light on major advancements in transportation infrastructure development. The market in the region witnessed a substantial influx of investments in intelligent transportation systems by leading private and public sector companies. According to the U.S. Department of Transportation, a total of US$63.9 Bn investments were made by the department to support major transportation infrastructure projects across the county, in 2018.

Distinguished Market Players

The most competitive players in the global passenger information system market include Thales Group, Mitsubishi Electric Corporation, Masstrans, Toshiba Infrastructure Systems & Solutions Corporation, Teleste Corporation, ALSTOM, Masstrans, xQuester Tangent, Indra, Medha Servo Drives Private Limited, ST Engineering, Lunetta, Cubic Corporation, r2P GmbH, Kentkart, Tattile, Advantech Co., Ltd., Televic Group NV, and Icon Multimedia.