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 2025
|Published by||MarketsandMarkets||Product code||984892|
|Published||Content info||250 Pages
Delivery time: 1-2 business days
|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 2025|
|Published: January 20, 2021||Content info: 250 Pages||
The global railway management system market size is expected to grow from USD 40.8 billion in 2020 to USD 61.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. The demand for railway management system is driven by the ongoing smart city initiatives and increasing Public-Private Partnership (PPP) model. However, some of the developing regions are still struggling to adopt advanced technologies due to their dependency on legacy infrastructure, slowing the adoption of railway technologies.
"By Solutions, rail analytics to to grow at the highest CAGR during the forecast period"
By solutions, the rail analytics segment is expected to grow at the highest growth rate during the forecast period. With the rapid increase in big data applications, the level of complexity would increase, given the increased amount of data, emerging technologies, and constant need to optimize cost efficiency. These factors would influence the growth of new analytical platforms and data storage, though the adoption of rail analytics platforms is still in the early phase.
"By services, system integration and deployment segment to hold the largest market size during the forecast period"
The system integration and deployment segment is expected to hold the largest market size. System integration and deployment services help identify the need for adaptation or upgradation to support smart railways software in the existing infrastructures and avoid the restriction of such software. These services help in speed deployment, save time and costs, enable efficient working, and minimize deployment-related disruptions. These benefits have led to the adoption and penetration of railway management system integration services wordwide.
"By region, Asia Pacific to grow at the highest CAGR during the forecast period"
The Asia Pacific (APAC) market is projected to grow at the highest CAGR during the forecast period. The APAC region is witnessing high growth due to the increasing adoption of new technologies, the rising investments for digital transformation, and the growing GDP in APAC countries. A majority of potential economies in the region include Australia, Singapore, China, Korea, Hong Kong, and India, which are said to be rapidly investing in the rail technological transformation.
Note: Tier 1 companies have revenues over USD 1 billion; tier 2 companies have revenues ranging from USD 500 million to USD 1 billion, and tier 3 companies have revenues ranging from USD 100 million to USD 500 million.*Others includes sales managers, marketing managers, and product managers. **Rest of World (RoW) includes MEA and Latin America.
Source: Industry Experts
The railway management system market is segmented into offerings, solutions, services, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the railway management system market.
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