Global Railway Management System Market Overview:
The railway management system integrates various tools and services to better manage the railway sector. It includes various activities such as traffic planning, operations management, energy and infrastructure management, maintenance and assistance, station control and communication, information management on railway installations and others. In addition, the main tools used in the railway management industry include the rail traffic management system, the railway asset management system, the railway operations management system, the railway control system and the traffic management system, and railway maintenance management system. The railway management system offers better operation and control, asset management, energy management, traffic planning, personal and passenger information management, data analysis and others. In addition, train management systems use advanced digital communication and train processing to track train speed and location. In addition, the railway management system provides disaster management, which has been essential for the protection of assets and lives.
Global Railway Management System Market Size:
According to Research Cosmos, The Railway Management System Market size is estimated to grow from USD 29.27 Billion in 2016 to USD 57.88 Billion by 2021, at a CAGR of 14.6% during the forecast period.
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Drivers and restrictions:
The high growth of the population and the increase of urbanization in the developing countries are factors promoting the growth of the global railway management market, followed by the saturation of the infrastructure, which generates a demand for more efficient and safer solutions. Other key factors include technological progress, adoption of IoT, models in the cloud and other automated models to improve optimization. In addition, increasing government efforts and partnering with IT providers to implement automated models to increase the efficiency of the infrastructure is the key factor behind the growth of the global market for rail management systems. On the other hand, some restrictive factors hinder the growth of the world market such as the high initial implementation cost, different security conformities from different regions, and complex interoperability.
According to the geographic analysis, Asia-Pacific is expected to have the highest market share during the forecast period. This is due to a greater adoption of new technologies and high investments in digital transformation. It is also expected that the GDP growth of the APAC countries will contribute to the growth of the market. Most potential economies in this region include Australia, Singapore, China, Korea, Hong Kong and India, which are investing in technological transformation of railway managements. The main factor that should limit the growth of the railway management systems market is the operational inefficiency and the increase of congestion with respect to the capacity of the existing railway infrastructure and the high cost of the initial deployment.
Hitachi (Japan), Bombardier (Canada), Huawei (China), Indra Sistemas (Spain), Atos (France), Toshiba (Japan), Tech Mahindra (India) and Nokia (Finland), Ansaldo (Italy), Siemens (Germany), Thales (France), DXC Technology (United States), ABB (Switzerland), Amadeus (Spain), Alstom (France), Cisco (United States), Optasense (United Kingdom), Uni) and IBM (United States), General Electric (United States), GAO RFID (Canada), EKE Electronics (Finland), Sierra Wireless (Canada), Eurotech (Italy), Frequentis (Austria) and Trimble (United States) are the main contributors to the global market.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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