Market Research Report
Connected Rail Solutions Market by Safety and Signaling System and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||609151|
|Published||Content info||172 Pages
Delivery time: 1-2 business days
|Connected Rail Solutions Market by Safety and Signaling System and Geography - Forecast and Analysis 2020-2024|
|Published: December 5, 2019||Content info: 172 Pages||
Technavio's connected rail solutions market analysis considers sales from CBTC, PTC, and ATC safety and signaling systems. Our study also finds the sales of connected rail solutions in APAC, Europe, MEA, North America, and South America. In 2019, the CBTC segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing need for safe transportation due to government regulations coupled with the increasing traffic congestion will play a significant role in the CBTC segment to maintain its market position. Also, our global connected rail solutions market report looks at factors such as increasing adoption of technologically advanced connected devices, digital transformation in the railway industry, need to improve passenger experience, and developments in railway infrastructure. However, the high cost of implementation, need to comply with stringent regulations and standards, and data privacy and security concerns may hamper the growth of the connected rail solutions industry over the forecast period.
The increasing conveyance of passengers, cargo, oil, and other refined products, and expansion of seaports are some of the major factors influencing the need for railway expansion projects to facilitate the fast and economic transfer of goods from ports to destinations. In addition, countries are expanding their railway networks to meet the increasing demand for passenger transfers. The relaxation of rail tariffs and customs procedures has also encouraged major logistic service providers to increase transportation through railways, especially between Europe and China. Thus, the rise in railway expansion projects will lead to the expansion of the global connected rail solutions market at a CAGR of over 6% during the forecast period.
Autonomous trains have been gaining popularity in recent years with the growing demand for efficient modes of transportation. Railway companies are using connected rail solutions such as ATC to generate a considerable amount of data regarding drive patterns, route patterns, and weather conditions. In addition, major rail freight logistics companies and passenger rail operators are deploying autonomous trains with connected rail solution devices to merge their data with big data analytics to create meaningful insights. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global connected rail solutions market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global connected rail solutions market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading connected rail solutions manufacturers, that include ABB Ltd., ALSTOM Holdings, Bombardier Inc., Cisco Systems Inc., General Electric Co., Hitachi Ltd., International Business Machines Corp., Robert Bosch GmbH, Schneider Electric SE, and Siemens AG.
Also, the connected rail solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.