Passenger Display System Market to Surpass $17,417.00 million by 2027 | INDRA SISTEMAS, S.A., THALES GROUP

Passenger Display System Market

Region wise, the passenger display system market was dominated by North America region

WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 22, 2024 /EINPresswire.com/ -- The growth of the global 𝐏𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 is driven by rise in demand for real-time, consistent, and reliable passenger information coupled with increase in frequency of passengers travelling through public transport and technology advancements in the transport industry which are available in number of forms such as display boards, LEDs, and passenger information mobile application. However, high installation & maintenance cost of these display systems and technical limitation hamper the passenger display system market growth. Conversely, surge in demand for intelligent transportation system along with increase in penetration of advanced technologies such as cloud, Big Data, and IoT are anticipated to provide remunerative opportunities for the expansion of the market during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 263 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A06535

The global passenger display system market size was valued at $6,775.00 million in 2019, and is projected to reach at $17,417.00 million by 2027, growing at a CAGR of 12.4% from 2020 to 2027.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐓𝐄𝐋𝐄𝐒𝐓𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐒𝐈𝐍𝐆𝐀𝐏𝐎𝐑𝐄 𝐓𝐄𝐂𝐇𝐍𝐎𝐋𝐎𝐆𝐈𝐄𝐒 𝐄𝐋𝐄𝐂𝐓𝐑𝐎𝐍𝐈𝐂𝐒 𝐋𝐈𝐌𝐈𝐓𝐄𝐃 (𝐒𝐓 𝐄𝐍𝐆𝐈𝐍𝐄𝐄𝐑𝐈𝐍𝐆), 𝐌𝐈𝐓𝐒𝐔𝐁𝐈𝐒𝐇𝐈 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐀𝐋𝐒𝐓𝐎𝐌, 𝐓𝐎𝐒𝐇𝐈𝐁𝐀 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐒𝐈𝐄𝐌𝐄𝐍𝐒 𝐀𝐆, 𝐈𝐍𝐃𝐑𝐀 𝐒𝐈𝐒𝐓𝐄𝐌𝐀𝐒, 𝐒.𝐀., 𝐂𝐔𝐁𝐈𝐂 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐇𝐈𝐓𝐀𝐂𝐇𝐈, 𝐋𝐓𝐃., 𝐓𝐇𝐀𝐋𝐄𝐒 𝐆𝐑𝐎𝐔𝐏

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/passenger-display-system-market/purchase-options

North America dominates the passenger display system market, owing to the presence of technological advanced countries, high spending on advanced technologies, and presence of developed network architecture in the region. Rise in ridership in public transport in North America is one of the major growth factors that drive the growth of the market. In addition, the need for improving customer satisfaction throughout the journey of passengers by means of communication media is expected to boost the growth of the passenger information system market.

On the basis of mode of transportation, the airways segment exhibited the highest growth in the passenger display system market in 2019, and is expected to maintain its dominance in the upcoming years, owing to rise in deployment of passenger display systems at large airports for each terminal or even each major airline. They are used to inform passengers of departure/arrival times, boarding gates, destinations, notifications of flight delays/flight cancellations, and partner airlines. However, the railways segment is expected to witness highest growth during the forecast period, due to significant rise in vehicular traffic across the globe in the last couple of years. This is attributed to the fact that these displays provide information to the vehicle drivers as well as pedestrians while assuring safe and smooth vehicle and pedestrian traffic flow. 

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A06535

Though COVID-19 crisis continues to disrupt many industries, it has opened opportunities for high adoption of digital transformation approaches among which cloud-based services have gained high importance and adoption. When state and country-wide lockdowns initiated at the beginning of 2020, both employee and customer engagement & experience became major factor to drive the global cloud migration services market. Many businesses encouraged and adopted ‘work from home’ policy for employee safety that further increased the demand for cloud technology as it offered cloud-based application, data, storage, and flexible computing power capabilities which in turn also supported the market growth in 2020.

In 2019, the global passenger display system market share was dominated by the hardware segment, and is expected to maintain this trend during the forecast period, as these hardware components are used to provide real-time information to passengers about the state and nature of a transport service through visual and media devices. Despite of high cost of hardware components, they form the integral part of any intelligent transportation system, which fuels the market growth. However, the services segment is expected to witness the highest growth, owing to rise in need to maintain and enhance existing passenger display solutions and make the deployed solution more robust, which drive the demand for training, support, and maintenance services in the market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A06535

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By component, in 2019 the hardware segment dominated the passenger display system market size. However, the services segment is expected to exhibit significant growth during the forecast period.

On the basis of display type, the LCD segment accounted for the highest revenue in 2019, however, the LED segment is expected to witness highest growth rate in the forecasted period.

Depending on mode of transportation, the airways generated the highest revenue in 2019. However, the railways segment is expected to witness highest growth rate in the near future.

Region wise, the passenger display system market was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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