North America Passenger Information System Market, By Product (Hardware, Software, Services), Type (Passenger Information Display System, Passenger Information Announce System, Emergency Communication Systems, Passenger Information Mobile Application, Infotainment System), Location (On board, In Station), Transportation Mode (Railways, Airways, Roadways), Country (U.S., Canada, Mexico)- Industry Trends and Forecast to 2029.
Market Analysis and Insights : North America Passenger Information System Market
North America passenger information system market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.3% in the forecast period of 2022 to 2029 and is expected to reach USD 3,551,332.19 thousand by 2029. Rising demand for intelligent public transportation system is boosting the market.
The raising interest for solid and exact constant travel data by travelers addresses one of the key variables moving the traveler data framework market development. Aside from this, an ascent in the interest for canny transportation frameworks, in juncture with headways in the media transmission area to empower quicker information move abilities, is likewise filling the market development. Besides, an expansion sought after for canny transportation frameworks and a flood in the reception of the Internet of Things (IoT), cloud and huge information advancements in the transportation area are driving the deals of traveler data frameworks across the globe. As of now, because of a critical ascent in the instances of the COVID-19 infection, lockdowns have been forced by states of different nations. They are advancing the reception of social removing measures to stay away from the spread of the pandemic, which is adversely affecting the market development. In any case, the market is expected to encounter development whenever predictability is recaptured.
Growing transportation infrastructure across the globe is the major driving factor in the market. Complexities in the integration over the legacy infrastructure and communication networks can prove to be a challenge, however growing digitization in transit operations can prove to be an opportunity. The restraint is stringent transportation regulatory policies. Also challenges faced due to the impact of COVID-19 on the supply chain of the raw materials are the restraining factors.
The passenger information system market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the passenger information system market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Passenger Information System Market Scope and Market Size
North America passenger information system market is segmented into four notable segments which are based on product, type, location, transportation mode. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the North America passenger information system market is segmented into hardware, software, and services. In 2022, the software segment is expected to dominate the market as it is very convenient to use and is accessible round the clock.
- On the basis of type, the North America passenger information system market is segmented passenger information display systems, passenger information announcement systems, emergency communication systems, infotainment systems, and passenger information mobile application. In 2022, the passenger information display systems segment is expected to dominate the market as it provides the best possible services.
- On the basis of location, the North America passenger information system market is segmented into on board and in station. In 2022, the on board segment is expected to dominate the market as the number of fleet being provided to the market are customized according to the requirement.
- On the basis of transportation mode, the North America passenger information system market is segmented into railways, roadways, and airways. In 2022, the railways segment is expected to dominate the market as railway system have high level of geographical specialization with large rail carriers.
Passenger Information System Market Country Level Analysis
The passenger information system market is analyzed and market size information is provided by the country, type, location, transportation mode, product as referenced above.
The countries covered in the passenger information system market report are the U.S., Canada and Mexico. The U.S. dominates the North American region because of rapid growth in automotive technology, quality usage and standards of wires and cables.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand for Intelligent Public Transportation System is Boosting the Market Growth of Passenger Information System Market
The passenger information system market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2020.
Competitive Landscape and Passenger Information System Market Share Analysis
Passenger information system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to passenger information system market.
Some of the major players operating in the passenger information system market are Medha Servo Drives Private Limited, Mitsubishi Electric Corporati0on, Quester Tangent, indra, ST Engineering, Thales Group, Lunetta, Cubic Corporation, r2P GmbH, among others.
Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the passenger information system market.
For instance,
- In June 2020, Mitsubishi Electric Corporation announced that it has acquired EKE-Electronics Ltd., a Finnish manufacturer of train information systems. This acquisition will allow Mitsubishi Electric to drive business collaboration with EKE-Electronics in order to enhance its train passenger information systems business in overseas market
- In July 2018, Toshiba Digital Solutions and JUNPUZI Launch Trials for AI-based Demand Responsive Rideshare Transportation System that alleviated transport access difficulties and contributed to community revitalization. This acquisition helped the company to expand its technology and portfolio.
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