Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.