PUBLISHER: Allied Market Research | PRODUCT CODE: 1193244
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193244
The rail asset management market was valued at $9,968.0 million in 2021, and is projected to reach $17,467.1 million by 2031, registering a CAGR of 5.8% from 2022 to 2031. A rail asset management solution aids in maximizing lifetime safety maintenance and freight security.
Rapid urbanization, increased digitalization implementation, and dependence on artificial intelligence (AI) are significant drivers influencing growth of the global rail asset management market. However, the market expansion is hampered by the high initial cost of integration and implementation. On the other hand, a surge in government spending on railroad management systems has the potential to increase the adoption of cloud-based railway management solutions, which is anticipated to create up a profitable market opportunity during the projected period.
The global rail asset management market research is segmented on the basis of offering, deployment model, application area, and region. On the basis of offering, the market is bifurcated into solutions and services. The solution segment is further segmented into market asset performance management, analytics, asset planning & scheduling, security, workforce management, and others. By deployment model, the market is divided into cloud-based and on-premises. By application area, it is segmented into rolling stock, infrastructure, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market include Accenture plc, Alstom SA, Capgemini SE, Cisco Systems, Inc., Hitachi, Ltd., Huawei Technologies Co., Ltd., International Business Machines Corporation (IBM), L&T Technology Services Limited (LTTS), SAP SE, and Siemens AG.
Key Benefits For Stakeholders
By Offering
By Deployment
By Application Area
By Region