Rail Asset Management Global Market Report 2024

Description

“Rail Asset Management Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on rail asset management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for rail asset management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The rail asset management market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Solution: Asset Performance Management; Analytics; Asset Planning & Scheduling; Security; Workforce Management; Other Solutions
2) By Services: Professional Services; Managed Services
3) By Deployment Mode: Cloud; On-premises
4) By Application: Rolling Stock; Infrastructure
Companies Mentioned: Siemens AG; Hitachi Ltd.; Wabtec Corporation; DXC Technology Company; L&T Technology Services Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Rail asset management involves the coordination of systems, procedures, and tools for planning, advising, and managing various types of rail assets. It encompasses a range of solutions aimed at improving the overall management of rail assets, including activities such as design, construction, operations, maintenance and support, traffic planning, infrastructure management, communication network, station control, and rail-facility information management. These solutions and services play a crucial role in enabling efficient monitoring, scheduling, and reduced downtime of rail assets.

The main types of rail asset management solutions include asset performance management, analytics, asset planning and scheduling, security, workforce management, and others. Asset performance management solutions involve the integration of data capture, integration, visualization, and analytics to enhance the reliability and availability of physical assets. These solutions are typically offered through professional services and managed services and can be deployed in both cloud and on-premise locations. Rail asset management solutions find application in areas such as rolling stock and infrastructure.

The rail asset management market research report is one of a series of new reports from The Business Research Company that provides rail asset management market statistics, including rail asset management industry global market size, regional shares, competitors with a rail asset management market share, detailed rail asset management market segments, market trends and opportunities, and any further data you may need to thrive in the rail asset management industry. This rail asset management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rail asset management market size has grown strongly in recent years. It will grow from $10. 87 billion in 2023 to $11. 47 billion in 2024 at a compound annual growth rate (CAGR) of 5. 6%. The growth observed in the historical period can be attributed to factors such as a focus on safety and regulatory compliance, the pursuit of cost efficiency and optimization, an increase in passenger and freight demand, the adoption of predictive maintenance practices, an emphasis on asset lifecycle management, and the efficient utilization of resources. These factors have collectively contributed to the advancement and adoption of rail asset management solutions, leading to improved safety, efficiency, and overall performance in the rail industry.

The rail asset management market size is expected to see strong growth in the next few years. It will grow to $14. 6 billion in 2028 at a compound annual growth rate (CAGR) of 6. 2%. The anticipated growth in the forecast period can be attributed to factors such as a heightened focus on environmental sustainability, an emphasis on the resilience of rail infrastructure, the establishment of interoperability standards, the adoption of mobility-as-a-service (MaaS), and the incorporation of circular economy practices, along with customer-centric approaches. Major trends expected in the forecast period include the adoption of cloud-native architecture, the implementation of network slicing for customized services, enhancements in edge security, collaboration with content delivery networks, the utilization of open-source Multi-access Edge Computing (MEC) platforms, and the application of edge data analytics and insights.

The demand for rail asset management is expected to rise due to the increasing investments made by various governments globally in rail infrastructure and digitalization projects. The expansion of rail services requires the optimization of existing schedules for both passengers and freight to achieve greater efficiency. For example, in 2021, the Norwegian government allocated NKR 32. 1 billion ($3. 51 billion) for railway infrastructure investments, operations, and maintenance, as reported by the International Railway Journal (IRJ). Similarly, Indian Railways plans to invest $4 billion in world-class private passenger trains, with railway projects expected to attract over $7. 5 billion in investment over the next five years. These substantial investments in the rail industry are likely to drive the demand for rail asset management services, contributing to the growth of the market.

The growth of the rail asset management market is further anticipated with the increasing proliferation of IoT-linked devices. These devices, which connect wirelessly to a network and transmit data, enable continuous real-time monitoring of various rail assets, providing immediate insights into asset conditions and potential issues. According to a report by Ericsson, broadband IoT (4G/5G) reached 1. 3 billion connections in 2022, with nearly 60% of cellular IoT connections expected to be broadband IoT connections by the end of 2028. This surge in IoT-linked devices is a key driver for the rail asset management market.

Companies in the rail asset management market are actively engaging in strategic partnerships and collaborations to enhance their financial standing, strengthen their product portfolios, and expand their global presence. An example of this is the digital asset management agreement signed between The Copenhagen Metro and Hitachi Rail S. p. A in May 2022. This agreement aims to optimize maintenance and investments in rolling stock and infrastructure over a 30-year period.

Major players in the rail asset management market are investing in advanced technologies such as train inspection technology to cater to larger customer bases, increase sales, and boost revenue. Train inspection technology involves tools, methods, and systems used to assess and monitor the condition, safety, and performance of trains and their components. Norfolk Southern, a US-based transportation company, launched AI Train Inspection Technology in October 2023, utilizing digital train inspection portals equipped with high-resolution cameras and machine vision inspection technology to assess passing railcars.

In June 2022, Global Rail Trust, an Austria-based consulting services firm, acquired Advanced Rail Management Corp., a US-based provider of rail and wheel maintenance solutions. This acquisition combines the capabilities of both companies, enabling Global Rail Trust to expand its team and operations in the rail asset management sector.

Major companies operating in the in the rail asset management market report are Siemens AG, Hitachi Ltd., Wabtec Corporation, DXC Technology Company, L&T Technology Services Limited, SAP SE, Capgemini SE, Cisco Systems Inc., Accenture plc, Atkins Global, Trimble Inc., WSP Global Inc., Tego Inc., KONUX GmbH, Oxplus B. V., Bentley Systems, Incorporated, Trapeze Group, Uptake Technologies Inc., Huawei Technologies Co. Ltd., Cyient Limited, Assetic Pty Ltd., Machines With Vision Inc., ZEDAS GmbH, SNC-Lavalin Group Inc., Bombardier Inc., EKE-Electronics Ltd., EKE Group, Nomad Digital Ltd., Trimble Railway Ltd., RailcarRx, RailComm Inc., Rail Vision Ltd., Railnova

Europe was the largest region in the rail asset management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rail asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the rail asset management market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The rail asset management market includes revenues earned by entities by providing systems, methods, procedures, and tools to optimize costs, performance, and risks for the complete rail infrastructure life cycle. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10544

1. Executive Summary

2. Rail Asset Management Market Characteristics

3. Rail Asset Management Market Trends And Strategies

4. Rail Asset Management Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Rail Asset Management Market Size and Growth

5.1. Global Rail Asset Management Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Rail Asset Management Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Rail Asset Management Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Rail Asset Management Market Segmentation

6.1. Global Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Asset Performance Management
Analytics
Asset Planning & Scheduling
Security
Workforce Management
Other Solutions
6.2. Global Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Professional Services
Managed Services
6.3. Global Rail Asset Management Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud
On-Premises
6. 4. Global Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Rolling Stock
Infrastructure

7. Rail Asset Management Market Regional And Country Analysis

7.1. Global Rail Asset Management Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Rail Asset Management Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Rail Asset Management Market

8.1. Asia-Pacific Rail Asset Management Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Rail Asset Management Market

9.1. China Rail Asset Management Market Overview
9.2. China Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Rail Asset Management Market

10.1. India Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Rail Asset Management Market

11.1. Japan Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Rail Asset Management Market

12.1. Australia Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Rail Asset Management Market

13.1. Indonesia Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Rail Asset Management Market

14.1. South Korea Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Rail Asset Management Market

15.1. Western Europe Rail Asset Management Market Overview
15.2. Western Europe Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Rail Asset Management Market

16.1. UK Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Rail Asset Management Market

17.1. Germany Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Rail Asset Management Market

18. 5. France Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Rail Asset Management Market

19. 9. Italy Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Rail Asset Management Market

20.13. Spain Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Rail Asset Management Market

21.1. Eastern Europe Rail Asset Management Market Overview
21.2. Eastern Europe Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Rail Asset Management Market

22.1. Russia Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Rail Asset Management Market

23.1. North America Rail Asset Management Market Overview
23.2. North America Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Rail Asset Management Market

24.1. USA Rail Asset Management Market Overview
24.2. USA Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Rail Asset Management Market

25.1. Canada Rail Asset Management Market Overview
25.2. Canada Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Rail Asset Management Market

26.1. South America Rail Asset Management Market Overview
26.2. South America Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Rail Asset Management Market

27.1. Brazil Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Rail Asset Management Market

28.1. Middle East Rail Asset Management Market Overview
28.2. Middle East Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Rail Asset Management Market

29.1. Africa Rail Asset Management Market Overview
29.2. Africa Rail Asset Management Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Rail Asset Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Rail Asset Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Rail Asset Management Market Competitive Landscape And Company Profiles

30.1. Rail Asset Management Market Competitive Landscape
30.2. Rail Asset Management Market Company Profiles
- 30.2.1. Siemens AG
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Hitachi Ltd.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Wabtec Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. DXC Technology Company
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. L&T Technology Services Limited
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Rail Asset Management Market Competitive Benchmarking

32. Global Rail Asset Management Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Rail Asset Management Market

34. Rail Asset Management Market Future Outlook and Potential Analysis

34.1 Rail Asset Management Market In 2028 - Countries Offering Most New Opportunities
34.2 Rail Asset Management Market In 2028 - Segments Offering Most New Opportunities
34. 3 Rail Asset Management Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer