Market Research Report
Global Railway Management System Market - 2019-2026
|Published by||DataM Intelligence||Product code||753089|
Delivery time: 1-2 business days
|Global Railway Management System Market - 2019-2026|
|Published: November 1, 2019||Content info:||
Global railway management system market is expected to grow at a CAGR of XX% to reach market value of USD XXXX million by 2025.
The railway system has integration technologies, i.e. analogue components converging more and more with digital computerized equipment, servers, sensors interconnected by different and more open communication networks.
The global railway management system market is anticipated to increase due to the rise of partnership, automation technologies, government initiatives to improve adoption of Internet of things (IoT), and hyper-urbanization. In the coming years, it could witness the expansion of the managed services rising at a higher rate across various Railway stations and trains.
Increased adoption of communication and management systems will drive the railway management system market globally.
The Semi or fully autonomous and alternatively propelled car systems will be increased in coming years and stand to be the major competitor by 2030 to electrified rail mass transit. This could be possible if they are able to reach and demonstrate the safety level expected for driverless and public transports. Thus the growth in autonomous rail development will drive the global railway management system market.
The Expensive deployment cost at the initial stage of management system in railway is hampering the growth of global railway management system market.
The railway management system market is segmented based on by solution type which include Rail Traffic Management System, Rail Communication and Networking System, Rail Operations Management System, Rail Control System and Others. The rail traffic management system has the growing market with increasing innovative solutions in traffic management and the increasing government initiatives for the development of railway management systems.
By geography market is segmented in to North America, South America, Europe, Asia Pacific and Rest of the World.
The European railway management system market is the fastest growing market and it is expected to grow positively in the forecasting period, due to the high adoption of Internet of Things (IoT), owing to adequate technology infrastructure, and growing demand for railway management system tools.
The increase in innovative solution and developments agreements by the major players, is the key strategies followed by major players in the global railway management system market.
In September 2018, ABB has won orders worth over USD 100 million from Swiss train manufacturer Stadler. The order defines, ABB will supply state of the art traction equipment for more than 160 trains serving urban, regional and long distance routes in Europe and the US.
In September 2018, Alstom has launched StationOne, at InnoTrans in Berlin, the first online marketplace dedicated to the railway sector, connecting professionals who aims to improve their operational performance. The platform is designed as an efficient way for both to promote and get access to a broader choice of products and services in the railway sector.
In September 2017, Cisco, ScotRail, CGI, Network Rail Telecoms and Wittos have announced their collaboration on an Innovate UK and RSSB funded proof of concept to enable super-fast Wi-Fi on trains (Project SWIFT). The project will show the fastest in-train Wi-Fi service in the world, allowing users to experience Internet speeds on the go of up to 300 Mbps.
In April 2017, Cisco has estimated to spend around USD 30 billion over the next 15 years on IoT projects for the railroad industry, and have been working to design network solutions to implementation challenges.
Key market segments covered
BY SOLUTION TYPE
BY SERVICE TYPE