ID: MRFR/ICT/7246-HCR | February 2021 | Region: Global | 110 pages
A railway management system is a fully integrated rail transportation solution that helps in improving revenue, reducing operational costs, and enhancing the safety of customers. The railway management system incorporates several tools and services that enable better management of the rail industry. The system includes various activities such as traffic planning, operation management, power supply & infrastructure management, maintenance & support, station control & communication network, rail-facility information management, and many others. Furthermore, the major tools used in the global railway management industry include rail traffic management systems, rail asset management systems, rail operation management systems, rail control systems, and rail maintenance management systems. The rise in demographic growth, hyper-urbanization, increasing adoption of IoT as well as automation technologies to enhance optimization and emerging trend of smart cities are expected to be the major factors driving the growth of the railway management system market.
The Global Railway Management System Market is expected to register a CAGR of 11.02% during the review period, 2019–2025.
The Global Railway Management System Market is characterized by the presence of several regional and local providers. Some of the key players in the market are Alstom, Cisco, General Electric, ABB, IBM, Hitachi, Bombardier, Huawei, Indra Sistemas, Siemens, Ansaldo, ATOS, Toshiba, Tech Mahindra, Nokia Networks, Thales Group, DXC Technology, Eke-Electronics, Eurotech and Sierra Wireless among others.
The Global Railway Management System Market has been segmented based on Solution, Service, and Region.
By Solution, the market has been segmented into rail operations management systems, rail traffic management systems, rail asset management systems, rail control systems, rail maintenance management systems, rail communication and networking systems, rail security, rail analytics, passenger information systems, and freight information systems.
By Service, the market has been divided into consulting, system integration and deployment and support and maintenance.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Geographically, the global railway management system market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Asia-Pacific is expected to hold the largest market share during the forecast period owing to the rise in the adoption of new technologies and high investments in digital transformation. The increasing GDP of the APAC countries is also expected to contribute to market growth. Most of the potential economies in this region include Australia, Singapore, China, Korea, Hong Kong, and India which are said to be rapidly investing in technological transformation.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The upsurge in demographic development and hyper-urbanization is predicted to induce the market in the period of forecast.
IBM, Hitachi, Bombardier, Huawei, Indra Sistemas, General Electric, ABB, Siemens, Nokia Networks, Thales Group, Ansaldo, ATOS, Toshiba, and Tech Mahindra are provoking growth in the global market.
A CAGR of 11.02% is forecasted to spur the market in the coming period.
The market is expected to witness a beneficial rise in the forthcoming period.
The APAC region is likely to emerge as the frontrunner in the market.