Integration of advanced technologies into the platform screen doors system is anticipated to revolutionize the growth of global platform screen doors (PSD) market over the forecast period. The platform screen doors system are the types of the automatic gates installed across different types of transit stations, including the train stations, metro stations, airports and bus stops and are used as a barrier between the passengers and various platforms. Market participants are increasingly investing towards enhancing the system’s functionality through integration of advanced technologies. LG CNS, for instance, offers a Smart platform screen doors (PSD) integrated with multi-layered sensors and a control unit, which is responsible for monitoring and adjusting the opening and closing operation of the PSDs. Specific solutions have been incorporated into the system, which ensures adequate safety in case of emergency situations.
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The COVID-19 pandemic had an adverse impact on the overall public transportation systems. However, as the countries are gradually relieving lockdown measures, the investments towards public transportation is observed to be on a rise. For instance, Knorr-Bremse in August 2020 entered into a million-euro agreement with Siemens Mobility for supplying 3,760 door systems for 94 trains operated by London Underground on the Piccadilly line. The investment was initiated with a view that the demand for public transportation would escalate over the future years. Similar investment initiatives have also been observed across other developing and developed countries, globally, which indicates significant growth prospects for global platform screen doors (PSD) market over the period of next eight years.
The global platform screen doors (PSD) market accounted for US$ 677.20 Mn in 2020, and is expected to grow at a CAGR of 4.4% during the forecast years (2021-2029).
The detailed research study provides qualitative and quantitative analysis of global platform screen doors (PSD) market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
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Global Platform Screen Doors (PSD) Market:
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