Global Passenger Information Display System Market

Passenger Information Display System Market: Overview

According to Custom Market Insights (CMI), The Global Passenger Information Display System Market  size was estimated at USD 24.87 billion in 2021 and is expected to hit around USD 55.9 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 13.2% from 2022 to 2030.

An automated system called a passenger information display system is employed to give users of public transportation visual information about the condition and kind of service.

The need for the passenger information display system market is driven by an increase in the demand from passengers for accurate real time transit information, improvements in the telecommunications sector to enable quicker data transfer, and an increase in the use of cloud & big data technologies among the transportation industry. Additionally, growing security concerns on public transportation increased funding for intelligent transportation systems, and an increase in the number of travelers utilizing public transportation are some factors propelling the growth of the worldwide passenger display system market.

Passengers at stations or cars can view real time visual information on display devices. Display systems assist in integrating passenger data into dynamic displays that direct, educate, and keep passengers updated as they proceed. Wayfinding, gates, departures, emergency information, and real time, context based updates are all shared through the display systems. These systems reduce missed transfers and wait times with real time arrivals and departures pushed directly to screens throughout terminals. They also assist in delivering news, advertisements, safety and emergency messages, and entertainment content for the efficient and prompt delivery of information to passengers.

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Passenger Information Display System Market: Growth Drivers

Demand for passenger information display systems will increase as more transportation companies strive to give customers accurate and reliable real time travel information. Some market growth drivers include the rising use of mobile devices, the internet, and the need for passengers and travelers to look for factual information to improve connectivity and safe travel.

The demand for sophisticated transportation systems and rising lot usage in the transportation sector are driving the growth of the passenger information display system market. One of the major factors driving the market expansion for traveler data frameworks is the growing need for passengers for accurate and reliable continual trip data. In addition, a rise in demand for intelligent transportation systems, along with advancements in media transmission to enable faster information transfer capabilities, is fueling the market growth.

Additionally, the need for smart transportation systems is growing, and the Internet of Things (IoT), the cloud, and significant information improvements in the transportation sector are boosting the sales of traveler data displays worldwide.

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Passenger Information Display System Market: Regional Analysis

North America held a dominant position and is predicted to dominate during the forecast period in the passenger information display system market. Many businesses in the area have quickly embraced and invested in cutting edge technology like big data, analytics, and cloud platforms.

The existence of major corporations and the rising need among companies to automate corporate decision making processes to boost efficiency are other factors that fuel the growth of the passenger information display system market. Due to its dominance in North America, the U.S. has seen rapid advancements in automobile technology, high usage requirements, and the quality of wire and cable. The need for information display is dominating in this region due to the number of travelers during the forecasted period.

Passenger Information Display System Market: Recent developments

Perpetuum, a British rail technology company that was a pioneer in providing digital solutions for enhancing train dependability and performance, was bought by Hitachi Rail. Perpetuums digital solutions would broaden the use of the technological solutions in Hitachis worldwide transportation portfolio as part of the agreement.

Key Players:

• ALSTOM
• HITACHI LTD.
• INDRA SISTEMAS, S.A.
• MITSUBISHI ELECTRIC CORPORATION
• CUBIC CORPORATION
• SINGAPORE TECHNOLOGIES ELECTRONICS LIMITED (ST ENGINEERING)
• TELESTE CORPORATION
• SIEMENS AG
• THALES GROUP
• TOSHIBA CORPORATION

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The global Passenger Information Display System market is segmented as follows:

By Display Type

• LCD
• LED
• Others

By Transportation Mode

• Roadways
• Railways
• Airways

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On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America