The global Passenger Information System market size is forecast to grow from USD 23.8 billion in 2020 to USD 42.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.
The major growth drivers of the market include the growing demand for consistent, real-time, and reliable passenger information; increasing use of smartphones with enhanced connectivity to improve transit experience; and rising frequency of passenger journeys through public transport.
The Passenger Information System market is segmented into display systems, announcement systems, emergency communication systems, infotainment systems, mobile applications, and others (passenger counting systems and video monitoring systems).
The display system is expected to have the highest market share during the forecast period. Display systems are used to display real-time visual information for passengers at stations or onboard vehicles. Information such as news, arrival and departure time, advertisements, safety and emergency messages, and entertainment content can be displayed for the effective and immediate delivery of the information to passengers.
Information display systems have been around for years, but more recently enterprising airports, rail stations and bus depots have upgraded these screens to show real-time information on trip delays, weather, news and sports coverage, stock market updates, and other information that passengers have come to expect.
In addition, by replacing static and backlit light boxes with a network of high-impact digital signage, advertising partners can launch promotions at specific times of day and decrease printed sign costs; and best of all, the displays can be managed from one central location.
Touch technology is available on digital signs in sizes as large as 75-inches.
Already popular in convention hotels, digital wayfinding signs allow travelers to choose their route and learn about the airport before they enter the terminal. For example, a hungry traveler could not only use a digital wayfinding system to locate his gate, but also see what food offerings were in that area.
Because a digital signage network has the ability to be updated constantly and immediately, wayfinding signs can change to direct travelers to their flights by their destination, not just point to their intended gate.
Automatic RSS feeds keep displays updated so the network can operate with little human involvement.