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Smart Railway Market (Solution - Rail Asset Management & Maintenance, Operation & Control, PIS, Communication & Networking, Security & Safety, and Rail Analytics; Service - Professional, and Managed): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : AT00214

  • Category : Automotive, Aerospace & Defence

  • Status : Published

A recent report published by Infinium Global Research on smart railway market provides in-depth analysis of segments and sub-segments in the global as well as regional smart railway market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart railway market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global smart railway market. According to the report, the global smart railway market is projected to grow at a CAGR of 11.2% over the forecast period of 2020-2026.

 

Market Insight

The railway industry is in a position to experience the opportunities created by the Industrial Internet of Things. The new services, such as asset management, integrated security, and predictive maintenance, are expected to improve decision-making for issues like safety, and system capacity. The intelligent construction of railways has become an inevitable choice to promote the innovation and development of railways and enhance their core competitiveness.

 

Smart railways represent interconnected technological solutions and modern transportation infrastructure like digital displays, and smart meters to optimize the usage of assets, to meet the ever-growing demand for energy-efficient and safer services these systems require high data rate wireless connectivity and integrated software solutions. This is driving the growth of the smart railway industry. Furthermore, the increasing importance of sustainability, government regulations, demographics, and the growing importance of smart cities provides a growing demand for the market. The rail industry underwent a major revolution with the appearance of the Internet of Things (IoT) and the adoption of smart city projects. This led to the development of smart ticketing, passenger infotainment solution, rail analytics, and dynamic route scheduling and planning. Industrial IoT-based solutions have eventually reinforced competitive advantages Additionally, the adoption of other automation technologies to enhance the service offering drives the market growth. However, operational inefficiency, the lack of infrastructure and interoperability, the high initial cost of deployment, and the integration complexities over legacy systems and the network, is affecting the growth of the smart railway market. Moreover, an autonomous train provides a significant growth opportunity for the market.

 

Europe is the dominant smart railway market. The well-established railway infrastructure, and countries have been investing majorly to modernize the existing rail infrastructure is driving the growth of the smart railway market. In Europe where population growth is slower, still, it shows a rise in the railway share of transport. Also, passenger rail transport demand is being driven by a growing demand for intercity and interurban mobility. The demand for long-distance rail journeys is growing in many countries and this growth is expected to increase with further development of the high-speed rail network in Europe. The Asia Pacific is the second-largest market for the smart railway market due to emerging countries like China, India, and Japan has in-depth research in smart cities.

 

Segment Covered

The report on global smart railway market covers segments such as solution, and service. On the basis of solution, the sub-markets include rail asset management & maintenance, operation & control, PIS, communication & networking, security & safety, and rail analytics. On the basis of service, the sub-markets include professional, and managed.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Cisco Systems, Wabtec Corp, ABB Ltd, IBM Corp, Hitachi Ltd, Huawei Technologies, Siemens AG, Honeywell Corp, Bombardier, and others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart railway market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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