ID: MRFR/ICT/1992-CRR | May, 2018 | Region: Global | 100 pages | Cooked Research Reports
Global Smart Railways Market Research Report – By Type (Onboard), Component (Multimedia Infotainment Displays, Video Surveillance Cameras), Solution (Advanced Security Monitoring System), Services (Consulting Services), Regions – Forecast Till 2024
A few factors are encouraging the demand for smart railways, such as the increasing demand for cloud-based services, increasing rate of hyper-urbanization, and adoption of the internet of things. Smart railways offer new generation solutions, services, and modern transportation to the passengers with the help of information and communication technology. Advancements in networking, artificial intelligence, and big data analytics have set the pace for the growth of smart railways market. The wireless communication technology plays a crucial role in maintaining transportation operation, in improvising high-speed rail, in safety monitoring, and other applications. The smart railway services are integrated with the cloud computing technology to improve their application in railway and offer safer transportation to the consumers. The cloud-based applications are offering intelligent and smart solutions to provide reliable and sustainable mass transit. The major industry players are entering into partnerships to ensure better and economical solutions. On Sep 13, 2016, Herzog Technologies, a leader in the railroad signal and communications industry, entered into a partnership with Red Hat to provide cost-effective, open source, and cloud-based positive train control (PTC) technology services. The cloud-based positive train control solutions deliver efficient performance
The Cisco Systems, Inc., General Electric, ABB Ltd., IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Siemens AG, and others, are the leading providers of smart railway solutions. The smart railways offers advanced and reliable service to the passengers to meet the increasing consumer demand for efficient and safer services. The global infrastructure saturation, expanding economy, and increasing global demographics are also propelling the demand for the smart railway. The smart railways provide an improvement in operational efficiency, passenger experience, and return on investments
Segmentation of Global Smart Railways Market
The global smart railways market is segmented on the basis of the type, component, solution, services, and region. The type segment is further sub-segmented into the station and onboard type. The component is sub-segmented into multimedia infotainment displays, video surveillance cameras, and networking & connectivity devices. The solutions are segmented into advanced security monitoring system, passenger information system, rail communication & networking system, freight information system, rail analytics system, smart ticketing system. The services are segmented into system integration & deployment, consulting services, and support & maintenance. The market is covered across regions including North America, Europe, Asia Pacific, and Rest of the World.
Source: MRFR Analysis
Some of the prominent players in the global smart railways market Alstom SA (France), Cisco Systems, Inc. (U.S.), General Electric Inc. (U.S.), International Business Machines Corporation (U.S.), Hitachi Limited (Japan), Huawei Technologies Co. Ltd. (China), Siemens AG (Germany), Bombardier, Inc. (Canada), Indra Sistemas SA (Spain), Teleste (Finland) among others.
The regional analysis of smart railways market is done for North America, Asia Pacific, Europe, and the Rest of the World. Europe is experiencing a huge demand due to the internet of things technology, faster economic growth, and huge investments in smart railways projects by the government. While, in the North American region, the increasing penetration of cloud services and IoT platforms are poised to attract the market for smart railways. Whereas, Asia Pacific countries, including China, Japan, and India, are the emerging market for smart railways and it is expected to grow with the highest CAGR in the coming years.