Passenger Display System Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Display Type (LCD Display System, LED Display System, Others), By Mode of Transportation (Railways, Roadways, Airways) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global passenger display system market was worth USD 8.59 billion in 2021 and is estimated to reach an expected value of USD 24.99 billion by 2030, growing at a CAGR of 12.6% during the forecast period (2022 – 2030).

Passengers at stations or inside vehicles can view real-time visual information or scheduled/static information on passenger display systems.  Information about arrival and departure times, current events, safety, and emergency alerts, advertisements, and entertainment material are all displayed for passengers to access quickly and efficiently.  The scheduled or static information plans the journey before leaving and changes sporadically.  Additionally, real-time data from automatic vehicle location systems are used throughout a journey and change continuously due to actual events.  Additionally, the passenger display system offers a wide range of services like entertainment, news broadcast, on-demand information, emergency communication, and weather forecast display.  Large numbers of passengers are drawn by these features, which also increase revenue.  The demand for transit agencies to keep passengers informed about their journeys as they progress, a sharp rise in mobility, and the expansion of the telecommunications market, which produces advanced data transfer capabilities, are all factors that significantly impact the market growth for passenger display systems globally.

Market Dynamics

The rise in demand for real-time transit information for passengers

In the daily operations of modes of transport such as buses or railways, the movement of vehicles is affected by uncertain conditions, which include traffic congestion, unexpected delays, randomness in passenger demand, and irregular vehicle dispatch times.  The passenger display system is a stand-alone system designed to display the real-time location of vehicle passengers traveling; for instance, the real-time passenger information system (RTPIS) rolling display on bus stops shows passengers' expected arrival time in real-time.  It provides a web interface for the control room to monitor the vehicles in real time and offers a mobile application for end users to find the bus schedules.  Moreover, the passenger display system provides numerous functions such as emergency communication, weather forecast display, news broadcast, on-demand information, and entertainment.  These features attract a higher number of passengers and help the transport operators to generate more revenue.  Furthermore, the passenger display system market is expected to grow at a special rate in the upcoming years due to an increased focus on offering enhanced passenger experience by various transport providers.

Increase in security concerns in public mode of transportations

Security concerns at public transportation systems are continuously increasing, due to which managing and controlling crowds in public transportation has become necessary for security authorities.  This has boosted the adoption of passenger information systems to prevent threatening situations in crowded areas, which fuels the market's growth.  Passenger information systems further help to estimate the number of people traveling through that area and suggest counter plans to decide when the limit of passengers/travelers is exceeded.  In addition, these systems have broad potential applications in video analytics and video surveillance for airports, railways, and public transport buses.  The governments of different countries have implemented rules which specify the maximum limit or capacity of any vehicle; however, to identify if the rule is being followed, the deployment of passenger information systems becomes mandatory to prevent breaking the law.  Moreover, in case of emergency incidents such as bomb threats, hijackings, and assaults, the passenger information system can quickly and accurately determine the location of vehicles in these emergencies.  Therefore, the rise in security concerns in public transportation mediums is driving the demand for passenger information systems, which, in turn, causes the adoption of passenger display systems as it forms an integral part of passenger information system.

Global passenger display system market restraint

Poor infrastructure for installing passenger display systems

The lack of advanced and technologically-updated system infrastructure is a key factor hindering the growth of the passenger display system market.  In underdeveloped regions of Africa and Asia, poor roads and transportation facilities conditions further restrain the market growth.  In addition, lack of awareness about advanced passenger information systems, usage of legacy systems, and poor internet connectivity in underdeveloped nations restrict the deployment and use of passenger information systems, thereby limiting the growth of the global market.

Global passenger display system market opportunities

Integration of advanced technologies

For the automation of various forms of transportation, particularly railways, cloud computing is being used.  Passenger information display systems on roads can use cloud computing to track a bus's location within a specific area and predict its arrival time on a real-time display at the bus stop.  A rise in the uptake of cutting-edge connectivity technologies that allow for the creation of a virtual cable replacement link that makes it simple to upgrade legacy equipment and connect to the Internet of Things (IoT) also has a significant positive effect on the expansion of the global market.  Cloud technology and data analytics solutions maintain high display efficiency, cost-effective resource allocation, and passenger population monitoring.  This is advantageous for the bus management system because it allows for frequency regulation based on passenger demand along a specific route at each bus stop.  Thus, the surge in adoption of advanced technologies such as cloud, Internet of Things (IoT), and Big Data in the transportation sector is anticipated to offer remunerative opportunities for expansion of the global market during the forecast period.

Regional Analysis

Region-wise, the global passenger information system market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  North America was the highest revenue contributor and is estimated to grow at a CAGR of 9.8%.  The North American region dominates the passenger display market, owing to the presence of technologically advanced countries, high spending on advanced technologies, and developed network architecture in the region.  The rise in ridership on public transport in the North American region is one of the primary growth factors of this market.  In addition, the need for improving customer satisfaction throughout passengers' journeys by means of communication media is expected to boost the growth of the passenger information system market.

Moreover, the government is taking initiatives to digitalize and advance the information system in the public transport sector, which is opportunistic for the market.  Adoption of passenger information display systems and services on a large scale in the region's transport sector contributes to market growth, owing to strong network connectivity in the region.  The development of the passenger display system industry is expected to be further driven by numerous factors, such as a continuous rise in government funding for the transportation sector and an increase in domestic trips taken by U.S. residents & tourists flying in from different countries.

Europe is the second largest region.  It is estimated to reach an expected USD 6300 million by 2030, growing at a CAGR of 11.6% during the forecast period.  The growth of the passenger information system market in North America is driven by factors such as an increase in demand for tracking vehicle information in real-time, owing to an exponential rise in internet usage and the development of new railway projects adopting advanced transportation systems.  In addition, the increase in awareness among end users about the benefits of the advanced passenger display information system as compared to legacy systems has boosted the growth of the railway transit sector, which, in turn, is anticipated to drive the development of the passenger information system market in the Europe region.  Moreover, the European Commission strongly encourages the use of public transport as part of the mix of modes, fueling the need for public transportation in Europe.  Furthermore, the surge in the number of airline passengers in Europe is augmenting the demand for passenger display systems, which fuels the market's growth.  For instance, in 2018, approximately 1,106 million people in Europe traveled by air, an increase of 6.0% compared with 2017.  London Heathrow recorded the highest number of air passengers, estimated at 80 million in 2018, followed by Paris Charles de Gaulle.  Furthermore, upcoming rail projects in several countries of the European region, along with massive investment in rail project & technology, is expected to provide lucrative opportunities for the passenger display market growth.

Asia-Pacific is the third largest region.  Factors like the rise in population, increase in urbanization, and improvement in the economy are expected to boost the growth of the passenger display system market in the Asia-Pacific region.  In addition, an increase in connectivity penetration and a surge in the need to avoid traffic congestion contribute to the market growth in the region.  Moreover, new developing railway projects in Japan, India, and China are further propelling the growth of this market, owing to the adoption of the latest technological developments for providing easy and convenient transport for passengers.  For instance, projects such as Jakarta MRT, Brisbane Cross River Rail, Geku Railway, Dongguan Line 3, Delhi Metro Phase 4, and Bangkok–Padang Besar are expected to generate significant demand for passenger display systems in the upcoming years.  The number of passengers traveling in the Asia-Pacific region metro has increased over time, which is opportunistic for the market.

Segmental Analysis

The global passenger information system market is segmented by component, display type, mode of transportation, and region.

By Component, the global passenger information system market is categorized into hardware, software, and service.  The hardware segment was the highest contributor to the market and is estimated to grow at a CAGR of 10.7% during the forecast period.  Since hardware is a crucial component of passenger information display systems, it is anticipated that this market will hold the largest share.  The market is expanding due to the increased use of these display systems to provide passengers with real-time visual information at stations or onboard vehicles.  Additionally, the demand for hardware components has been rising steadily as more outdated trains, and other modes of transportation need to upgrade their passenger information systems.  In addition, the integration of hardware components can overcome challenges such as space constraints and wiring difficulties by converging multiple subsystems.  Thus, the passenger information system integrates the track location data, public address (PA) system, LED display, and train information to provide passengers with visual updates.  Furthermore, several manufacturers are launching new products in the market and leveraging technologies such as Big Data analytics and biometric recognition, which propel the market's growth.

The services segment is the fastest growing.  Adopting passenger display system services is essential to maintain the efficiency of transit operations and monitor route and schedule adherence, excess wait time, transit performance, and service regularity.  For the past few years, an increase has been witnessed in the adoption of these services among end users, as they assure the effective functioning of hardware components, platforms, and software throughout the process.  An increase in the adoption of passenger display systems is expected to boost the demand for consulting, training, and implementation in the upcoming years.

Based on Display Type, the global passenger information system market is segregated into LCDs, LED displays, and others.  The LCD segment was the highest contributor to the market and is estimated to grow at a CAGR of 10.9% during the forecast period.

The adoption of full, digital LCD passenger display is high as it can withstand many environmental challenges, which drives the market's growth.  Liquid-crystal display type has been the widely used technology in passenger information display for indoor and outdoor applications for a few decades.  Moreover, numerous features provided by these solutions, such as static content, one-sided or double-sided boards, bicolored, and availability of indoor and outdoor solutions, along with the decline in LCD manufacturing costs, are driving the extensive adoption of LCD technology.

By Mode Of Transportation, the global passenger information system market is fragmented into railways, roadways, and airways.  The airways segment was the highest contributor to the market and is estimated to grow at a CAGR of 12.1% during the forecast period.  Adopting the latest and most advanced passenger information display systems helps airlines and airports to smoothen passenger experience and increase operational efficiency when digital flight information display constantly remains up-to-date and continuously operational.  Factors such as increased tourism promotion, rise in per capita income, and introduction of new airline business models have driven the demand for passenger information systems.  An intelligent passenger information display system for airports controls the output of real-time information at all system-integrated display units.  Furthermore, emerging trends of targeted marketing through the display of content on infotainment systems, including information on store locations and discounts on airports, which leads to an increase in non-aeronautical revenues for airports, are opportunistic for the market.

Recent Developments

• September 2022 - Hitachi, Ltd. (TSE: 6501, "Hitachi") and Hitachi Building Systems Co., Ltd. ("Hitachi Building Systems") announced that they developed a touchless operating panel establishing an elevator without physical floor buttons*1 that allows users to experience an entirely new sensation.
• September 2022 - Hitachi, Ltd. (TSE: 6501, "Hitachi," today announced that Hitachi Building Systems Co., Ltd. ("Hitachi Building Systems") and Hitachi Lift India Pvt. Ltd. ("Hitachi Lift India"), a subsidiary of Hitachi, Ltd. that operates sales, installation, and maintenance of elevators and escalators in India, have received a first-time order from Unity Group for 40 units of high-speed elevators for their opulent residential complex "The