Global Passenger Display System Market to record 12.5% CAGR through 2027

January 13, 2021

According to the research report titled ‘Global Passenger Display System Market Size study, by Display Type (LCD Display, LED Display, Others), by Component (Hardware, Software, Services), by Mode of Transportation (Roadways, Railways, Airways) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global passenger display system market garnered a valuation of USD 6.8 billion in 2019 and is expected to grow with a CAGR of 12.5% during 2020-2027.

Assistance in providing real-time visual information to onboard passengers, and increasing investment towards transportation facilities in developing and developed economies are primarily stimulating global passenger display system market growth.

For those unversed, passenger display system is an automated system utilized to convey information pertaining to nature and state of public transport services to users. Such systems provide details including emergency communication services, scheduling, news broadcasts, and entertainment to commuters.

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Furthermore, it allows passengers to obtain valuable information regarding the status of various modes of transport, such as airplanes, trains, and buses, through online and digital means, hence stimulating global passenger display system industry outlook.

On the downside, hefty cost of the passenger display system is likely to hamper the remuneration scale of the industry over the assessment period. Moreover, the outbreak of COVID-19 pandemic has negatively impacted global passenger display system industry forecast as planned capital investments in the sector are delayed or put on hold for at least a year.

Considering the geographical spectrum, worldwide passenger display system market dynamics are defined by Asia Pacific, Europe, Latin America, North America, and Rest of the World. As per the report, North America leads the overall market forecast presently, owing to concentration of manufacturers in the region, and increasing measures by government to digitalize public transportation facilities.

Meanwhile, Asia Pacific passenger display system industry is projected to record a substantial growth through 2027, attributable to large number of commuters using public transport, and rising investment in deployment of advanced technology in transportation infrastructure.

Major players impacting global passenger display system market trends are Hitachi Ltd., Alstom SA, Indra Sistemas S.A., Toshiba Corporation, Thales Group, Teleste Oyj, Mitsubishi Electric Corporation, Siemens AG, Singapore Technologies Electronics Limited, and Cubic Corporation.

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