Market Research Report
Railway Management System Market by Solution (Rail Asset Management, Track Monitoring, Revenue Management, Intelligent Signaling System, Route Planning & Scheduling, PTC, CBTC, PIS, Security & Analytics), Service, and Region - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||300601|
|Published||Content info||173 Pages
|Railway Management System Market by Solution (Rail Asset Management, Track Monitoring, Revenue Management, Intelligent Signaling System, Route Planning & Scheduling, PTC, CBTC, PIS, Security & Analytics), Service, and Region - Global Forecast to 2023|
|Published: July 12, 2018||Content info: 173 Pages||
"The railway management system market is expected to grow at a compound annual growth rate (CAGR) of 10.2% during the forecast period."
The railway management system market size is expected to grow from USD 34.50 billion in 2018 to USD 56.18 billion by 2023, at a CAGR of 10.2% during the forecast period. This growth is expected to be fueled by the high demographic growth, hyper-urbanization, adoption of IoT as well as automation technologies to enhance optimization, technological advancements, government initiatives and the PPP model, and emerging trend of smart cities. The restraints for the railway management system market are operational inefficiency and increasing congestion with respect to the existing railway infrastructure capacity and high initial cost of deployment.
The PIS segment is expected to grow at the highest CAGR during the forecast period. PIS is a key communication link between transportation operators and passengers. It is an electronic operating tool that provides, at any given time, visual and acoustic information to passengers on a route, both automatically or programmed manually. Along with system reliability, safety, and general appearance, the ability of the operators to provide accurate and current information on arrival and departure times is a key component of passenger satisfaction. PIS consists of real-time train tracking, route information and scheduling, travel planning, passenger infotainment, and online connectivity solutions.
The system integration and deployment services segment is expected to witness the highest growth rate during the forecast period. System integration and deployment services help identify the need for adaptation or upgradation to support the smart railways software in the existing infrastructures and avoid the restriction of such software. These services help reduce deployment time, save time and costs, enable efficient working, and minimize deployment-related disruptions.
As per the geographic analysis, the railway management system market in the APAC region is expected to witness the fastest growth rate due to the region's nature of rapidly adopting new technologies and making high investments in rail infrastructure. The increasing GDP of the APAC countries is also expected to contribute to the market growth. The high population growth rate in the region has intensified the need for transformation and expansion of the existing rail infrastructure. Untapped potential markets, high penetration of advanced technologies, growing freight usage in various industries, economic developments, and government regulations are expected to drive the railway management system market growth at the highest rate in APAC during the forecast period.
The break-up of the profiles of the primary participants has been given below:
The key railway management system market vendors profiled in the report are:
The global railway management system market has been segmented by solution, service, and region. A detailed analysis of the regional markets has been done to provide insights into the potential business opportunities across different regions. In addition to this, product portfolio, recent developments, and strategic analysis of vendors are some of the other MarketsandMarkets analyses included in the report.
The report would help the market leaders/new entrants in the railway management system market in the following ways:
*Details on Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.