Railway Management System Market Growing at CAGR of 10.2% | Key Players Alstom, Cisco, General Electric, ABB, IBM

Railway Management System Market Growing at CAGR of 10.2% | Key Players Alstom, Cisco, General Electric, ABB, IBM

“Hitachi (Japan), Bombardier (Canada), Huawei (China), Indra Sistemas (Spain), Atos (France), Toshiba (Japan), Tech Mahindra (India), Nokia (Finland), Ansaldo (Italy), Siemens (Germany), Thales (France), DXC Technology (US), ABB (Switzerland), Amadeus (Spain), Alstom (France), Cisco (US), Optasense (UK), IBM (US), General Electric (US)…”
Railway Management System Market by Solution (Rail Asset Management, Track Monitoring, Revenue Management, Intelligent Signaling System, Route Planning & Scheduling, PTC, CBTC, PIS, Security & Analytics), Service, and Region – Global Forecast to 2023

The Railway Management System Market is expected to grow from USD 34.50 billion in 2018 to USD 56.18 billion by 2023, at a compound annual growth rate (CAGR) of 10.2% during the forecast period. The major drivers that are expected to fuel the growth of the railway management system market are the adoption of IoT as well as automation technologies to enhance optimization, rapid demographic growth. hyper-urbanization, technological advancements, government initiatives and the PPP model, and emerging trend of smart cities.

Internet of Trains is a network connectivity landscape that enables railway management systems to monitor and control railway subsystems in real-time, ranging from entertainment and infotainment to the powertrain of rails. The technology uses networks of intelligent on-board devices that are connected to cloud-based applications to improve the communication and control systems. Big data analytics is a front end for collecting and analyzing data in the form of usable information through cloud computing. Big data analytics is the evolution of conventional data analytics methodologies and plays an important role in the railway industry. It essentially monitors and improves the quality of service and maintenance of assets.

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Hyperloop is a type of transit where a pod carries passengers in a low pressure confined tube at Mach 1 speed. Magnetic accelerators are planted along the length of the tube for propelling the pods forward. For generating electricity to drive the system, integrated solar panels are used. The low-pressure tube is filled with air to move the pods safely at high speed, without a bumpy effect. The low-pressure vacuum is generated by an additional fan technology inside the tube, which leads to faster travel and consumes lesser energy.

The scope of this report covers the railway management system market analysis by software, service, and region. Railway management solutions are used by rail operators to streamline rail operations. The rail traffic management system segment is expected to hold the largest market share. Rail traffic management systems allow centralized supervision and traffic control of the entire rail network. The entire rail operations can be regularized from a central control system. This central administration system uses real-time data over high-speed communication links across trains and rail infrastructures to automate the traffic. Rail traffic management involves signaling, traffic control, routing, and train scheduling.

As per the geographic analysis, the railway management system market in the Asia Pacific (APAC) region is expected to witness the fastest growth rate due to the region’s nature of rapidly adopting new technologies, high investments in digital transformation, and increasing GDP in the APAC countries. The high population growth rate in the region has intensified the need for transformation and expansion of the existing rail infrastructure. Untapped potential markets, high penetration of advanced technologies, growing freight usage in various industries, economic developments. and government regulations are expected to drive the railway management system market growth at the highest rate in APAC during the forecast period.

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The key market players profiled in this report include Hitachi (Japan), Bombardier (Canada), Huawei (China), Indra Sistemas (Spain), Atos (France), Toshiba (Japan), Tech Mahindra (India), Nokia (Finland), Ansaldo (Italy), Siemens (Germany), Thales (France), DXC Technology (US), ABB (Switzerland), Amadeus (Spain), Alstom (France), Cisco (US), Optasense (UK), IBM (US), General Electric (US), GAO RFID (Canada), EKE Electronics (Finland), Sierra Wireless (Canada), Eurotech (Italy), Frequentis (Austria), and Trimble (US). These players offer various railway management solutions and its associated services to cater to the demands and needs of the marketspace. Moreover, they have adopted various growth strategies, such as mergers & acquisitions; partnerships & agreements; business expansions; and new product launches. The major growth strategy followed for growth is partnerships & agreements.

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