The Europe 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 8.4% in the forecast period of 2022 to 2029 and is expected to reach USD 3,859,704.50 thousand by 2029. Upsurge in demand of passengers for real-time transit information 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.
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Some of the major players operating in the passenger information system market are: indra, ST Engineering, Thales Group, Lunetta, Cubic Corporation, r2P GmbH, Kentkart, Tattile, Masstrans, Televic Group NV, and Icon Multimedia 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 January 2022, Hitachi, Ltd. collaborated with Genoa Metro network to build new trains to support the improvement of network. This collaboration will help the company to offer display for information to the passengers, control devices and many others which will accelerate the sales for the company.
- In October 2021, Siemens Mobility completed acquisition of Sqills. With Sqills, Siemens can provide operators with a comprehensive SaaS offering that optimizes their key travel processes, including trip searching, inventory, reservation, and ticketing management. This acquisition is helped the company to grow its passenger information system market.
Passenger Information System Market Scope and Market Size
Europe 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 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 easily accessible.
- On the basis of type, the 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 has a wide range of applications across the transportation industry and they are in high demand.
- On the basis of location, the 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 fleets are available for small enterprises.
- On the basis of transportation mode, the passenger information system market is segmented into railways, roadways, and airways. In 2022, the railways segment is expected to dominate the market as passengers prefer travelling through railways and services provided by railways are more convenient.
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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 Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium & Rest of Europe. U.K. dominates the Europe region due to rise in technological advancement and encouragement for the advancement in wire harnessing technology for vehicle safety purpose.
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 Europe 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.
Commercialization of Novel Technological Based Solutions to Enhance Passenger Experience 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.
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