Market Research Future Insights
The market is hyped up and is expected to perform significantly because of high private cloud adoption and the rising number of software-defined information centers. The global passenger information system market is expected to register a CAGR of 12.14 % from 2022 to 2030. The market is expected to reach USD 64.51 billion by 2030.
The Global Passenger Information System Market report furnishes an integrated evaluation of the market. The report tends to a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors playing an eloquent role in the market
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Huawei Technologies Co. Ltd (China), SAMSUNG (South Korea), com Co. (South Korea), Mitsubishi Electric Corporation (Japan)
According to the growth of the global passenger information system industry, this market can be divided into many categories based on the component, mode of transportation, solution, and services. The passenger information system market growth can be divided into the categories such as networking devices, sensors, multimedia displays, and communication devices based on components. The passenger information system market growth may be divided into categories such as railways, roadways, and airways based on the method of transportation. By solution, the market is segmented further into display systems, infotainment systems, information announcement systems, passenger information mobile applications, and emergency communication systems. While based on services, it is further divided into professional, cloud, and integration services.
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The largest market share for passenger information systems would be in North America, while it also contributed around 30% of the market share in 2019. Additionally, the US has the largest PIS market. Effective passenger information system services and the significant investments made in government-backed infrastructure projects have been the main factors in this market’s growth. Additionally, Asia-Pacific is a substantial competitor in the market due to the high demand for passenger information systems in this area. Asia-Pacific is home to several emerging and developing nations, including China, India, and Japan.
The remaining world segment is projected to expand at a CAGR of 12.6% over the course of the forecast period.