Global Passenger Information Display System Market 2023 – 2032

Reports Description

According to Custom Market Insights (CMI), The Global Passenger Information Display System Market size was estimated at USD 24.87 billion in 2021 and USD 28.8 billion in 2022 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 known as a passenger information display system is used to provide customers of public transportation with visual information on the status and nature of public transportation service. It is typically used to keep track of the little things and provide commuters with information like schedules, entertainment, emergency communication services, and news broadcasts. Additionally, it helps travellers obtain pertinent information on the state of various modes of transportation, including buses, trains, and airlines.

The demand for real-time transit information for passengers, an increase in security concerns on public transportation, rising financing in intelligent transportation systems, and an increase in the number of travellers using public transportation are some of the factors driving the growth of the global passenger display system market. Due to demands for infotainment and content management, the market for onboard passenger information systems is expanding globally. As a result, scheduled programming technology is used to manage commercial material, eliminating the need for people in transportation agencies. Display systems help to incorporate user data into dynamic displays that guide, inform, and keep users informed as they go along.

The display systems distribute real-time, context-based updates, emergency information, gates, departures, and wayfinding data. Real-time arrivals and departures are broadcast to terminal-wide displays. Moreover, the demand for real-time passenger information systems across all modes of transportation (rail, road, air, and sea) is one of the main factors driving the market.

Growth Factors

The demand for real-time transit information for passengers, an increase in security concerns on public transportation, rising investment in intelligent transportation systems, and an increase in the number of passengers using public transportation are some of the factors driving the growth of the global passenger display system market.

The market for passenger information display systems is anticipated to expand in the next years due to the integration of cutting-edge technologies like the cloud, big data, and IoT. It has been demonstrated that those who have access to real-time transportation information wait at bus stop 15% less frequently than those who do not. These are just a few advantages of real-time passenger information (RTPI) systems, which give passengers the most recent information on departure timings, arrival dates, and service disruptions, allowing them to plan more effective trips.

Based on historical averages, schedule variances, and automated vehicle location (AVL) data, an RTPI system forecasts these timings. Then, either directly or indirectly, this information is made available to consumers through various interfaces, such as websites, texts, and public signs, or indirectly through an open data feed that mobile app developers may utilize at no cost to the transit agency. This advantage of real-time transit is expected to drive the sales of the passenger information display market in the upcoming time.

Cloud computing is being used to automate many forms of transportation, particularly trains. Through cloud computing, passenger information display systems on roads may track a bus’s location within a certain region and determine when it will arrive, displaying that information on a real-time display at the bus stop. Additionally, a rise in the adoption of cutting-edge connectivity technologies that enable the creation of a virtual cable replacement link that makes it simple to upgrade legacy equipment and connect to the Internet of Things (IoT) has a significant positive impact on the expansion of the global market.

Cloud and data analytics technologies maintain high display efficiency, cost-effective resource allocation, and passenger population monitoring. This is important for the bus management system since it allows for frequency regulation depending on passenger demand along a specific route at each bus stop.

The commuters of today are extremely picky and look for memorable travel experiences. A competent setup and a strong reputation of the transport service provider are indicated by real-time information regarding routes, connections, interruptions, etc. This information aids commuters in better planning and making the most of their time. The level of service provided significantly impacts whether commuters would choose the same mode of transportation again. Giving commuters access to real-time information benefits the transportation service provider and the commuters. The passenger information system display industry is experiencing rapid expansion due to this unconventional behaviour.

Due to the growing number of people utilizing public transportation, the industry is expected to expand. The number of passenger travellers has increased significantly over the last three years, and it is projected that this development will continue in the years ahead, despite a decrease in demand for public transportation during the COVID-19 epidemic and the adoption of lockdowns. 

Passenger Information Display System Market Segmentation.

Passenger Information Display System Market, a segment based on display type

The liquid crystal display (LCD) category is predicted to expand at the highest CAGR during the forecast period. These solutions’ advantages, such as static content, one- or double-sided boards, bicolour, and the availability of indoor and outdoor solutions, are driving the adoption of LCD technology. This has led to an upsurge in demand for digital LCD passenger displays.

The Light emitting diodes (LED) market is anticipated to develop at the fastest rate due to the power efficiency and better light output of these displays. Additionally, LED displays’ brightness automatically adjusts to the surrounding environment, providing an excellent reading for passengers both during the day and at night, further encouraging adoption.

Consumers will enjoy the comfort of mind from broadcasting business information with unrivalled resolution and colour range owing to LED screens. For even more impact, consumers may even add lighting effects. The energy efficiency of LED technology is another major benefit.

Passenger Information Display System Market, a segment based on transportation mode

According to transportation mode, the airways sector is in the lead. It is anticipated to contribute the most to the passenger information display systems due to expanding passenger display systems in large airports, whether for individual terminals or major airlines. They are used to alert passengers of departure and arrival times, boarding gates, destinations, and alerts for partner airlines and aircraft delays or cancellations.

Due to the huge increase in global vehicular traffic over the past few years, the railway segment is anticipated to have the largest growth over the projection period. This is driven by the fact that these displays educate drivers and pedestrians while ensuring a safe and efficient flow of both traffic types.

Report Scope

Regional Insights

North America is expected to maintain its prominent position in the passenger information display systems market during the projected period. Due to a larger emphasis on the construction of transportation infrastructure and considerable private and public sector investments in intelligent transportation systems,

North America is anticipated to account for a sizeable portion of the worldwide market for passenger information systems. The dominant nations in the area in terms of investments and transportation initiatives are the U.S. and Canada. It has the biggest concentration of producers of passenger information systems and a sizable industrial infrastructure, both of which enable this market segment to dominate the passenger information display market throughout the foreseeable future.

North America’s strong vendor presence and high R&D expenditure drive the passenger information system market. New improvements to passenger information systems are often unveiled in the U.S. before being sold elsewhere. The U.S.’s robust public transportation infrastructure and network connection have raised a demand for passenger information display systems.

Due to increased commercial expenditures by several organizations in emerging nations like China and India, the passenger information display market in Asia-Pacific is predicted to grow rapidly in the next years. Additionally, to keep up with the intense rivalry in the industry and boost productivity, corporate firms are increasing their investments in passenger display system software along with strong economic growth and expansion in the services sector. Moreover, Asia Pacific is regarded as one of the fastest developing economies due to the increased use of real-time information systems, technical breakthroughs, and government initiatives regarding transportation services. In addition, more money is being invested in metro rail projects, and more people are using public transportation in the area, boosting growth in the Asia Pacific.

Europe has a significant market share in the passenger information display system market. The advanced and developed nations in this region have displays showing passengers and travel information on airports, metro stations, and roadways terminals.

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

Recent  Development

To provide travel hubs with an easy-to-use audio-visual passenger communication platform, Simple way and Infax, Inc. struck a strategic agreement. Companies hope to provide end customers with a powerful, unified software solution for passenger communication as a result of this agreement.

Segments covered in the report

By Display Type

• LCD Display System
• LED Display System
• Others

By Transportation Mode

• Roadways
• Railways
• Airways

By Component

• Hardware
• Software
• Services

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• 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