Railway Management System Market Size -Share, Growth, Trends, Covid-19 Impact, And Forecast (2020- 2027)
Railway Management System Market Size Scenario:
Market Research Future (MRFR), in its recently released research report, claims that the global Railway Management System Market Size 2020 is booming and projected to expand rapidly over the review period, achieving a significant business value and a reasonable CAGR of 11.02% over the forecast period.
The Railway Management System Market Size is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Railway Management System Market Size highlights the future prediction and the growth alternatives that can be created.
The increase in population growth, hyper-urbanization, the growing adoption of IoT as well as automation technologies to boost productivity and the evolving trend of smart cities are expected to be the key factors driving the growth of the demand for railway management systems. Remote diagnostics, passenger details, and asset planning are expected to drive the demand for advanced asset and fleet management tools across the rail industry. Increasing involvement of private companies in government-run rail markets, problems of road congestion due to rapid urbanisation, and surging demand for multimodal transport and low-fares are expected to positively impact the railway management system industry over the next few years. High adoption of advanced technology, traffic management, asset management, data processing, control settings and enhanced monitoring systems are the major factors driving market development. Due to the substantial increase in passenger traffic and freight traffic around the globe, the global railway traffic management system market is projected to see significant growth during the forecast period.
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Competitive Outlook:
The major market players operating in the global market as identified by MRFR are Alstom General Electric, DXC Technology, Cisco, ABB, IBM, Hitachi, Ansaldo, Huawei, Indra Sistemas, Siemens, Eke-Electronics, ATOS, Toshiba, Bombardier, Tech Mahindra, Nokia Networks, Thales Group, Eurotech and Sierra Wireless among others.
Segmentation:
· Based on the Solution, the market has been segmented into rail operations management systems, rail asset management systems, rail traffic management systems,rail control systems, rail maintenance management systems, rail security, rail communication and networking systems, passenger information systems, rail analytics, and freight information systems. It is expected the rail traffic management systems will have the largest market share in the solution category. Rail traffic management systems allow the entire rail network to be centrally managed and traffic controlled; the entire rail operations can be operated by a central control system. This central administration program uses real-time data to manage traffic over high-speed communication connections through trains and rail infrastructures. Train traffic management includes timetables for the signalling, traffic control, routing and train schedules.
· The network development and delivery segment is expected to have the highest market share under the Services group. System development and delivery services help to recognise the need for adaptation or timely improvements to make smart railway applications compliant with existing infrastructure. These services help to reduce the delivery time, save costs, allow productive work and mitigate disruptions associated with delivery.
· By Service, the market has been divided into consulting, system integration and deployment and support and maintenance.
Regional Analysis:
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
Asia-Pacific is poised 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 growing GDP of the APAC countries is also poised to contribute to market growth. Most of the emerging economies in this region include Australia, Singapore, Korea, China, Hong Kong, and India, which are said to be increasingly investing in technological transformation.
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Table of Contents:
1. Executive Summary
2. Market Introduction
2.1. Definition
2.2. Scope Of The Study
2.3. Market Structure
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
4. Market Dynamics
Continued….
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