Transit Station Display Boards Market Share & Growth [2031]

Report Description

Transit Station Display Boards Market Outlook 2031

The global transit station display boards market size was USD 147 Billion in 2022 and is likely to reach USD 195 Billion by 2031, expanding at a CAGR of 3.2% during 2023–2031. The market growth is attributed to the increasing upgradation and digitization of the transit station infrastructure.

Transit stations are being rapidly upgraded across the globe. Rapid urbanization and rising population are creating the need for efficient public transport facilities. The passengers are highly inclined toward using their gadgets to purchase tickets, check timings, make inquiries, and cancel tickets. This has encouraged the adoption of digital solutions at the transit stations. Furthermore, the growing investment in public transport renovations by various governments is anticipated to increase growth potential in the market.

• On November 15, 2021, the US President, Joe Biden, signed the Bipartisan Infrastructure Law (BIL) and invested USD 1.2 trillion in transportation and infrastructure development. Out of this amount, USD 550 billion is spent on new investments and programs.

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The research report finds that the COVID-19 pandemic affected the transit station display boards market. Lockdowns and transportation bans imposed by the various governments restricted the public transportation sector. This significantly slowed down the renovation work, technology upgrades, and installation of new display devices, as the emphasis was on healthcare needs.

Post the normalization of the pandemic, the market registered a significant recovery, as the demand for contactless solutions grew from the transit stations. In several stations, services such as ticket purchases, transactions, buying passes, ticket cancellations, schedule checking, and complaints are provided with the use of interactive digital displays installed at transit facilities. The rising awareness about the benefits of digital displays at transit stations is further driving their adoption.

Impact of Artificial Intelligence (AI) on the Transit Station Display Boards Market

AI is expected to benefit the market during the projection period. The AI technology is expected to widen the use of display boards at public transit stations, thereby increasing the convenience of passengers and various operators at the facility.

AI has the ability to predict the likely number of travelers by bus/train/rail at a particular station, day, and time. The stakeholders in the transport sector are partnering with technology companies to develop innovative solutions with AI, to optimize operations and enhance overall efficiency.

• On December 6, 2023, Hayden AI, a major AI and geopolitical analytics solution provider, signed a contract with LA Metro to deploy bus lane and bus stop enforcement camera systems on buses operating in the city. This partnership aims to make bus services and transit stations safe, efficient, and smarter.

Transit Station Display Boards Market Dynamics

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Major Drivers

Rising digitization of transit stations worldwide is anticipated to drive the market. Passengers are increasingly relying on gadgets and technologies available at the station, with growing digital awareness and accessibility, to meet their various requirements. Display boards enable passengers to conveniently gain information about bus/train timings, cancellations, delays, occupancy status, and other details.

Rising investment for the upgradation of public transit propels the market. Governments and private organizations are allocating significant budgets to upgrade public transit stations. This fuels the adoption of digital displays and associated equipment and technology to facilitate seamless experience and streamline different operations.

• According to the report published on June 22, 2023, by the European Commission, the European Union (EU) announced grants of over EUR 6.2 billion to selected 107 transport infrastructure projects from the Connecting Europe Facility (CEF). This investment is aimed at making transport infrastructure sustainable, efficient, and safe.

Existing Restraints

High cost of transit station display boards and complexities in integration with existing infrastructure are anticipated to hinder the market. The product cost of these boards is high, as display devices need support from computer vision technology, software, and other gadgets.

The process of integration of these displays with existing infrastructure is a complex procedure. This necessitates re-development and repair to assign proper locations for display boards. Additionally, the need for regular repair and maintenance limits the adoption, thereby affecting the market.

Emerging Opportunities

Rising integration of next-generation technology features at transit stations is expected to create immense opportunities in the market. Integration of advanced technologies, such as AI, Machine Learning (ML), Internet of Things (IoT), and sensors, in transit stations are helping to improve passenger experiences. Various transit facilities are exploring ways to benefit from advances in technology to ease and streamline operations.
For instance,

• In August 2023, Seibu Railway, a large railroad firm in Japan, adopted a simultaneous translation display system to aid foreign passengers in navigating Tokyo’s metro station. The station is notorious for its complex and large infrastructure, which is expected to be eased with the use of auto-translation displays. This transparent display solution provides seamless translation, while the passengers and staff communicate.

Scope of the Transit Station Display Boards Market Report

The global market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Type Analysis

Based on type, the transit station display boards market is divided into coach guidance display boards, single line display boards, at-a-glance display boards, TV display boards, platform display boards, and multiline display boards. The single line display boards segment is expected to lead the market in terms of demand during the projection period, owing to its extensive use at various transit stations.

Single line display boards show one particular short information/message at a time. It is commonly installed in railway stations to display arrival and departure times. Additionally, these display boards are adopted in bus transit systems to enable operators in route tracking of the bus.

The TV display boards segment is anticipated to register significant growth in the coming years, due to the rising availability of digital TV boards at affordable costs. Digital TV displays are becoming highly installed devices at ticket booking counters, platforms, waiting rooms, and inquiry rooms. These displays are used for advertisements and promotion purposes at the transit stations. The smart cities initiative in several countries around the world further boosts the demand for digital TV display boards at public transits.

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Application Analysis

On the basis of application, the global market is segregated into airports, bus stands, railway stations, and metro stations. The railway stations segment is projected to expand at a substantial CAGR during the forecast period, owing to the major use of almost every kind of display board at train transit facilities.

Railway transit stations are rapidly increasing across the globe, along with the rising population and urbanization and growing commercial and industrial activities. Additionally, the existing facilities are being rapidly renovated to make them suitable for the increasing number of passengers and rising train trips.

• According to the study report published on December 18, 2023, the global railway network spans more than 1.3 million route kilometers. The US has the longest railroad network, followed by Russia, China, India, and Canada.

• As per the report published in January 2019 by the International Energy Agency (IEA), the rail sector carries 8% of global passengers and 7% of global freight transport. The growing population and transportation activities are expected to increase the need for modernized railway transport stations.

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Installation Type Analysis

On the basis of installation type, the transit station display boards market is segmented into standing, wall mounted, and overhead/hanging. The overhead/hanging segment is expected to register a robust growth rate during the forecast period, owing to the growing need to keep passengers updated about information related to transit. These boards are generally installed overhead in a hanging state at various locations in transit facilities.

The overhead/hanging board is widely used to display train and platform details in real-time. Additionally, the installation of these boards is comparatively cost-effective and easy, as it did not necessitate a major rearrangement of the chosen location.

The wall mounted segment is projected to hold a considerable share of the market, due to the growing adoption of digital display solutions, such as smart TVs, interactive displays, and infotainment gadgets. The rising investment by various governments and private players in the transport industry for the modernization of transport facilities is anticipated to fuel the segment in the coming years.

Regional Outlook

In terms of region, the global transit station display boards market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, owing to the presence of highly developed transit facilities and the rapid adoption of smart transportation solutions for public transit services.

The rapid urbanization and increasing use of smart interactive display systems at transit facilities further propels the market. The increasing investment from local and national governments toward the upgradation of transit stations to make them future-ready is expected to boost opportunities in the regional market.

• On December 20, 2022, Washington Metropolitan Area Transit Authority (WMATA) announced that it is rolling out innovative new display boards across the DC region metro stations. These next train sign displays are designed to inform riders how busy metro trains are at particular stops. This information is to be based on previous trends observed in each train at different stops.

The market in Asia Pacific is anticipated to register rapid growth, due to the growing population and rising funding from various governments to strengthen the public transport sector. Factors such as expansion of the railway network, development of airports and metro train infrastructure, and construction of highways are transforming the transport sector in the region.

Emerging economies, such as India, China, Japan, and South Korea, are registering rapid growth in the number of passengers. This fuels the development of new transit facilities and the upgradation of existing stations. Furthermore, the growing adoption of advanced gadgets at airports, bus stations, and railway stations is expected to create opportunities in the market.

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