Lucintel Forecasts Passenger Information System Market to Reach $XX Billion by 2028

According to the recent study the passenger information system market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for passenger real-time transportation information and growing demand for passenger information system with the continuous expansion of global transportation infrastructure.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in passenger information system market by component (solution and services), product type (information display system, announcement system, infotainment system, passenger information mobile solutions, and others), transportation mode (airway, waterway, railway and roadway), location (on board and in station), functional mode (computing system, video surveillance, audio system, multimedia display, content management system, networking and communication, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Roadway market is expected to remain the largest segment during the forecast period.”

Based on transportation mode, the passenger information system market is segmented into airway, waterway, railway and roadway. Lucintel forecasts that the roadway market is expected to remain the largest segment due to the rising volume of vehicular traffic across the globe, improving traffic management systems, and rise in urbanization.

“Within the passenger information system market, the solution segment is expected to remain the largest component”

Based on component the solution segment is expected to witness the highest growth over the forecast period due to the rise in professional consultancy, rising demand for hardware and software equipment required in transportation infrastructure and facilitating easy access to information for travelers.

“North America will dominate the passenger information system market in near future”

North America will remain the largest region due to the presence of key players, high usage of technology by people and adoption of digitization in the transportation sector in the region.

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Major players of passenger information system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Alstom, Cisco Systems, Fujitsu, Funkwerk, Hitachi, Huawei, and Indra Sistemas are among the major passenger information system providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link  or [email protected]

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