The global Passenger Information System (PIS) Market size is expected to grow from USD 23.8 billion in 2020 to USD 42.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period. The growing demand for consistent, real-time, and reliable passenger information and increasing use of smartphones with enhanced connectivity to improve transit experience are the major factors driving the adoption of PIS solutions in the market.
Based on components, the solutions segment to hold the larger market size during the forecast period
Based on components, the PIS market is segmented into solutions and services. The solutions segment is expected to hold the largest market size during the forecast period, as it provides passengers with real-time information along with several other features, such as passenger/public announcements, emergency notifications, infotainment, and Global Positioning System (GPS)-based applications. PIS solutions are IT systems that offer real-time information about the arrival and departure of public transportation vehicles and highlight vehicle delays and their causes. PIS solutions today are highly advanced and these solutions are not just limited to a person waiting at the station or airport. These solutions might be helpful in emergency or incident management as critical information can be delivered over the network in real time.
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Based on services, the training, support and maintenance segment to grow at a higher CAGR during the forecast period
Based on services, the PIS market is segmented into consulting and integration services, and training, support and maintenance services. The growing need to maintain and enhance existing PIS solutions and make the deployed solution more robust with the emerging passengers travel journey would pave the way for training, support and maintenance services in the market. Training, support and maintenance services play an important role in creating expertise and skilled technician for PIS solutions to be operated and managed effectively. Vendors provide various levels of support programs, such as standard and extended support that are designed to meet passenger’s needs.
Major PIS vendors include Advantech (Taiwan), Alstom (France), Wabtec (US), Cubic (US), Cisco (US), Siemens (Germany), Hitachi (Japan), Huawei (China), Thales (France), Teleste (Finland), Mitsubishi Electric (Japan), ST Engineering (Singapore), Dysten (Poland), Televic (Belgium), Lunetta (India), r2p (Germany), Indra (Spain), ICON Multimedia (Spain), Passio Technologies (US), LANCom (Slovenia), and Simpleway (Czech Republic). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global PIS market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2018 to 2020, which has helped them to innovate their product offerings and broaden their customer base.
Advantech (Taiwan) is a leading provider of solutions and services for the transportation industry. The company manufactures applied and industrial computers and embedded computing modules. It operates through the Industrial Internet of Thing (IIoT) services, embedded boards and design-in services, allied Design Manufacture Services (DMS), global customer services such as Advanced Planning and Scheduling (APS) and Advanced Global Solution (AGS), intelligent services, and other business segments. The company’s offerings include Artificial Intelligence (AI) and Internet of Things (IoT) solutions, gaming platform solutions, embedded software, fanless embedded computers, industrial display systems, motherboards, industrial flash and memory solutions, embedded Personal Computers (PCs), and single-board computers. In the PIS market, Advantech offers strong products and solutions for the transportation industry and majorly focuses on railway transportation. It provides a range of rolling stock applications, including PIS, Closed-Circuit Television (CCTV) surveillance system, ethernet train networks, and Vehicle Monitoring System (VMS). The PIS solutions offered by the company provide real-time updates and information about the journey and the CCTV solutions help maintain higher security and safety of railway travel. The solutions offered by Advantech are certified by EN50155 and EN50121-4 standards.
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Cubic (US) designs and integrates products and services in transportation, communication, surveillance, and defense training markets. Cubic operates in three business segments: Cubic Transportation Systems (CTS), Cubic Global Defense (CGD), and Cubic Mission Solutions (CMS). The CTS segment offers system integration of payment, IT, and services for travel solutions. It further offers ticketing systems for public transit projects. CTS delivers integrated systems for transportation and traffic management, provides tools for travelers to choose the smartest way to travel, and pays for their journeys, enabling transportation authorities to manage demand across the entire transportation network. In the PIS market, the company offers the NextBus solution which is a cloud-based solution that provides real-time PIS to over 100 transit agencies, organizations, institutions, and airports. The Cubic NextBus will deliver the industry’s most intuitive trio of real-time passenger information, proactive transit operations, and mobile fare payments. The company has offices in over 75 locations and more than 19 countries around the world. Cubic caters to industries, such as commercial, government, military, and municipalities. The company had over 6,000 employees as of 2018. Cubic Corporation has over 1,30,000 transit devices installed around the world.
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