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Apr 01, 2024

Passenger Display System Market Insight on The Important Factors and Trends Influencing The Industry

Passenger display system displays scheduled/static information or real-time visual information for passengers at stations or onboard vehicles. Arrival & departure time, news, safety & emergency

Passenger display system displays scheduled/static information or real-time visual information for passengers at stations or onboard vehicles. Arrival & departure time, news, safety & emergency messages, advertisements, and entertainment content are displayed for the effective and immediate delivery of the information to passengers. The scheduled or static information changes occasionally, and is used for journey planning prior to departure. In addition, real-time information, which is derived from automatic vehicle location systems, changes continuously due to the result of real-world events, and is used during the course of a journey. Moreover, passenger display system provides numerous functions such as emergency communication, news broadcast, on-demand information, weather forecast display, and entertainment. These features attract large number of passengers and help to generate more revenue.

Factors such as escalation in need of transit agencies to keep passengers informed about their journey throughout, rapid increase in mobility, and expansion of the telecommunication market that results in advanced data transfer capabilities significantly contribute toward the growth of the global passenger display system market. In addition, the development of 4G or LTE communication technologies has boosted the demand for display of information on arrival, delay, and departure on smartphones, which drives the growth of the market. Moreover, expansion of the transportation sector and surge in demand of passengers to have transit information provided clearly, quickly, and on a real-time basis augment the growth of the global market.

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However, poor infrastructure for installing passenger display system in underdeveloped countries and high cost of deployment and management of this system hamper the growth of this market. On the contrary, rise in adoption of technologies, such as cloud, Internet of Things (IoT), and Big Data to enhance passenger travel experiences is expected to create lucrative opportunities for the market during the forecast period.

The global passenger information system market is segmented into component, display type, mode of transportation, and region. Depending on component, the market is categorized into hardware, software, and service. On the basis of display type, it is segregated into LCD display, LED display, and others. By mode of transportation, it is fragmented into railways, roadways, and airways. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.

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In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.

It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.

KEY BENEFITS FOR STAKEHOLDERS

– This study includes the passenger display system market analysis, trends, and future estimations to determine the imminent investment pockets.– The report presents information related to key drivers, restraints, and opportunities of the market.– The passenger display system market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.– Porter’s five forces analysis illustrates the potency of buyers & suppliers in the passenger display system market.

KEY MARKET PLAYERS– Alstom– Cubic Corporation– Hitachi, Ltd.– Indra– Mitsubishi Electric Corporation– Siemens AG– Singapore Technologies Electronics Limited– Teleste Corporation– Thales– Toshiba Corporation

KEY MARKET SEGMENTSBY COMPONENT– Hardware– Software– Services

BY DISPLAY TYPE– LCD Display System– LED Display System– Others

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BY MODE OF TRANSPORTATION

– Railways– Roadways– Airways

BY REGION– North Americao U.S.o Canada

– Europeo UKo Germanyo Franceo Rest of Europe

– Asia-Pacifico Chinao Indiao Japano Rest of Asia-Pacific

– LAMEAo Latin Americao Middle Easto Africa

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