Boston, MA -- (ReleaseWire) -- 04/02/2014 -- Passenger Information System Market [Display, Announcement, Emergency Communication, Infotainment, Mobile Applications, Devices and Components, Services (Professional, Integration, Cloud)] - Worldwide Market Forecasts and Analysis (2014 - 2019)
Passenger information systems are the solutions from IT vendors to the transport service providers which helps these operators to provide real time scheduling information to the passengers. These solutions act as a medium for interaction between transport service providers and the passengers. In this report passenger information systems refer to the IT solutions and systems which are used to provide real-time information on arrival and departure, and other features such as news broadcast, emergency communication, and in-transit entertainment.
With the evolution of new telecommunication technologies and increased adoption of smartphones, the demand for in-transit connectivity also increased. Technologies such as 3G and other higher generation communication fuelled this demand. On the other hand transport service providers are readily accepting the smart transport/traffic solutions being offered from IT vendors. The deployment of these solutions also distinguishes one service providers from others. Requirement of such solutions is significantly high in cities which are observing very high growth in urbanization. As the urban population is increasing the requirements for public transport is also increasing
In airways segment, the adoption was very high in early stages but later the adoption was observed quite high in railways and now in roadways. Railways segment accounts for highest revenue generation but the growth rate is significantly high in roadways segment. The same trend will be followed for next few years. In 2014 railways segment is the highest contributor in passenger information systems market revenues and it will remain on top for the next 5 years.
As mentioned above, high growth in urbanization is one of the prime factors driving this market. In the geographic regions, such as Asia Pacific and Latin America, which are observing high growth in urbanization, adoption and deployment of passenger information systems will be significantly higher than other regions. In terms of revenue, North America and Europe will lead the chart and remain on the top during the forecasting period.
Major challenges in this market include legacy systems, and poor infrastructure. The cost of replacing old legacy systems or up gradation will be high which hamper the overall adoption rate of passenger information systems. On the other hand, there are region which still lacks the basic networking and communications infrastructure which is backbone for passenger information systems. In near future, both of these factors will affect significantly the adoption rate but with time the impact of these two factors will be diminished.
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