Passenger Information System Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Passenger Information System (PIS) Market - Passenger Information System Market is a global market with a current value of $ 33.68 billion in 2023, which is projected to reach $ 66.126 billion by 2030. The CAGR for this market is 11.8 % during the forecast period. The growth of this market is mainly driven by the growing demand for real-time information in public transport systems and the advancement of digital technology. The integration of smart technology such as the Internet of Things, artificial intelligence and big data analysis in the PIS market is expected to grow in the coming years. These innovations will help improve the experience of passengers by providing timely information on the timetable, delays and route changes, and thus increase the efficiency of the operation. The leading players in the PIS market, such as Siemens Mobility, Thales Group and Cubic, are investing heavily in research and development to enhance their offerings. Strategic initiatives such as the partnership with the local transport authorities and the investment in the next-generation technology will further drive market growth. The recent collaborations aimed at developing integrated transport solutions indicate the industry's commitment to deploying technology to improve the passenger experience and satisfaction. The development of the PIS market will also be driven by the focus on smart cities and the increasing importance of sustainable development.

Regional Market Size

Regional Deep Dive

The Passenger Information System (PIS) market is experiencing significant growth in different regions, mainly due to technological advancements, the growing demand for real-time information and the need for improved passenger experience. North America's PIS market is characterized by a strong emphasis on innovation and the integration of smart technology, while Europe focuses on compliance and sustainable solutions. The PIS market in the Asia-Pacific region is characterized by rapid urbanization, investment in public transport and an increased demand for PIS solutions. The PIS market in the Middle East and Africa is gradually growing, mainly due to government initiatives aimed at improving public transport efficiency. Latin America is also a key region for PIS development, where the modernization of transport systems is driven by the growing urban population.

Europe

• The European Union's Green Deal is influencing the PIS market by promoting sustainable transport solutions, leading to increased investments in eco-friendly PIS technologies by companies like Alstom and Bombardier.
• Innovations in mobile applications for real-time passenger updates are being spearheaded by organizations such as Transport for London, which is enhancing user engagement and satisfaction through improved information dissemination.

Asia Pacific

• Rapid urbanization in countries like India and China is driving the demand for advanced PIS solutions, with major projects like the Mumbai Metro and Beijing Subway implementing state-of-the-art systems to manage passenger flow effectively.
• Government initiatives, such as Japan's Smart Mobility initiative, are fostering collaboration between public and private sectors to develop integrated PIS that enhance the overall travel experience.

Latin America

• Countries like Brazil and Mexico are investing in modernizing their public transport systems, with initiatives such as the São Paulo Metro's implementation of real-time information systems to improve passenger experience.
• The rise of mobile technology adoption in Latin America is leading to the development of innovative PIS applications that cater to the needs of tech-savvy commuters, enhancing accessibility and convenience.

North America

• Artificial intelligence and machine learning are being integrated into the PIS market. This is being led by companies such as Siemens and Thales, which are launching smart systems that enhance the real-time data processing and the end-user experience.
• Regulatory changes, such as the Federal Transit Administration's initiatives to improve public transport accessibility, are pushing transit agencies to adopt advanced PIS technologies, thereby increasing the market's growth potential.

Middle East And Africa

• The UAE's Vision 2021 is a significant driver for the PIS market, with investments in smart transport solutions, including the Dubai Metro's advanced PIS, which aims to improve operational efficiency and passenger satisfaction.
• Emerging public transport projects in cities like Nairobi and Johannesburg are increasingly adopting PIS technologies to address urban mobility challenges and enhance service delivery.

Did You Know?

“In 2022, it was estimated that over 70% of public transport users in major cities prefer real-time information updates via mobile applications, highlighting the critical role of PIS in enhancing user experience.” — International Association of Public Transport (UITP)

Segmental Market Size

Passenger Information System plays a crucial role in enhancing the travel experience of passengers. It is a growing market, owing to the increasing demand of the public for timely and accurate information on their travels, as well as the growing demand of the authorities for a better communication system in public transport. It is also a growing market with the development of new technology, such as the integration of the Internet of Things and artificial intelligence. In the mature markets of Europe and North America, leading players are Siemens and Thales. The main applications include real-time train information, flight information display, and mobile applications that enhance the engagement of passengers. The recent development of smart cities and the sustainable development of public transport have also accelerated the application of PIS. In the future, PIS will be more and more personalized and responsive, which will meet the dynamic needs of passengers.

Future Outlook

Passenger Information System (PIS) market is expected to grow at a strong CAGR of 11.4 percent from 2023 to 2030. This growth is driven by the rising demand for real-time information and improved passenger experience across various transportation modes such as railways, buses, and aircrafts. As urbanization grows and public transport systems expand, the integration of advanced passenger information systems will become a necessity for achieving better efficiency and customer satisfaction. By 2030, it is expected that more than 70 percent of public transport systems will have implemented advanced passenger information systems, resulting in enhanced customer engagement and improved operational transparency. The passenger information systems landscape is also expected to be revolutionized by the adoption of artificial intelligence, machine learning, and the Internet of Things (IoT). These technologies will make it possible to deliver more personalized and targeted information to passengers, based on their travel history and preferences. Further, supportive government policies such as the development of smart cities and the modernization of public transport systems will propel market growth. Also, the growing popularity of mobile applications and digital displays will ensure that passenger information systems remain an integral part of the transportation network.