DUBLIN–(BUSINESS WIRE)–Jan 29, 2021–
The "Passenger Information System Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Component, Location, Mode of Transportation, and Functional Model" report has been added to ResearchAndMarkets.com’s offering.
According to this report the global passenger information system market was valued at US$ 19,314.66 million in 2019 and is projected to reach US$ 45,717.11 million by 2027; it is expected to grow at a CAGR of 11.5% during 2020-2027. The report highlights key driving factors and prominent market players along with their developments in the market.
Passenger information system acts as the secured link between a transit agency or authorities and passengers, providing and dispersing the significant information needed for each of its end user. Such systems record and track down the necessary data related to real-time vehicle locations, current status updates, tentative journey schedules, and much more. Therefore, the important information reaches quickly without any defaults or changes to end user; hence such systems hold significance across the world. Passenger information system deploys the use of several interconnected devices, installed on platform or depots or any mode of transportation. They manage data and deliver reliable and accurate real-time transit information, which is significantly promoting the growth of passenger information system market.
The COVID-19 outbreak was first reported in Wuhan, China, in December 2019. Lockdowns, travel bans, and business shutdown measures implemented to mitigate the spread of the novel coronavirus are limiting the supplies of technology, media, and telecommunication solutions and services, which represents a significant loss for passenger information system companies.
Reasons to Buy:
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global Passenger Information System market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Market Dynamics
Drivers
- Rising Focus over Consistent, Real-Time, and Reliable Passenger Information
- Rising Frequency of Passenger Journey Through Public Transport
Restraints
- Lack of Advanced Infrastructure along with High Costs Associated with PIS
Opportunities
- Increasing adoption of IoT and big data to enhance passenger travel experiences
Future Trends
- Adoption of Advanced Passenger Information System for Border Security and Control
Companies Mentioned
- Alstom
- Cisco Systems Inc.
- Cubic Corporation
- Dysten Sp. z o.o.
- Hitachi, Ltd
- Huawei Technologies Co., Ltd
- Singapore Technologies Engineering Ltd.
- Teleste Corporation
- Thales Group
- Wabtec Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jkztjk
View source version on businesswire.com:https://www.businesswire.com/news/home/20210129005274/en/
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KEYWORD:
INDUSTRY KEYWORD: TECHNOLOGY TRANSPORTATION TRAVEL DATA MANAGEMENT
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 01/29/2021 06:58 AM/DISC: 01/29/2021 06:57 AM
http://www.businesswire.com/news/home/20210129005274/en
