(MENAFN- America News Hour) Railway
management system market growth will be driven by rapid digitalization within
the railway industry has resulted in increased adoption of IoT. The technology
helps the rail operators to obtain proper information regarding the location of
the train and ensure the passenger's safety. It regulates the train's speed
automatically basing it on real-time information which lowers the chances for
any collision and encourages its adoption.
There
are several factors like changing demographics, microeconomic &
macroeconomic conditions, growing importance of sustainability, and emerging
smart cities accompanied by the booming telecommunication sector and the need
for mobility have been fostering railway management system market size over the
years.
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The
automated rail has been considered as the future of transportation which will
meet the demand for optimizing operations, delivering services and capacity
growth with improved security and safety.
Railway
firms in several countries have been involved in the development of programs
and digitalization initiatives like Shift2Rail PPP and UIC digital platform in
order to promote railway's digital transformation. With growing passenger
expectations in an increasingly competitive railway management system market,
the train operating firms are constantly making efforts to satisfy the
passengers by not just delivering arrival and departure timings, but more.
The
companies aim to help passengers knowing their next train stops, precise
location and other important information regarding the path of the train
through advertising content and multiple reference messages through information
devices both outside and inside of the trains.
Luminator
Technology Group (LTG) had partnered with KeTech Systems Limited (KeTech) in
December 2018 to develop passenger information systems on a real-time basis.
This will help the companies provide solutions delivering real-time and
content-rich information to all the passengers.
With
the rapid deployment of digital technologies in the railways sector, the
consumers are being delivered value-added services with enhanced customer
experience, safety, reliability, efficiency as well as the total performance of
the railway which is fostering the growth of the railway management system
market.
Railway
operating firms have been working to transform the traditional network systems
with advanced technologies based on IP. This is why the adoption of effective
system integration & deployment helps them to integrate their existing
legacy systems with new technologies. Deploying such systems helps to build
highly-scalable, secured and cost-efficient solutions to deliver improved
end-to-end connectivity.
Railway
management system market size from the system integration & deployment
service segment held a revenue share of more than 1 billion in 2017. These
services are extremely helpful for the operators as they reduce a considerable
amount of the deployment time & cost along with providing capabilities for
efficient work and reduced disruptions.
Strategic
initiatives taken by the government that includes digitalization and smart
cities along with the rising GDP of the Asian countries will drive the railway
management system market in the Asia Pacific region. Moreover, the digital
transformation within the railway sector has been further accelerated with the
help of the adoption of technologies and various solutions like cloud
computing, automation, big data analytics and IoT.
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APAC
railway management system market share is expected to accrue substantial gains
as it will grow at the rate of more than 14% CAGR over the analysis timeframe.
The
leading players functioning in the railway management system market include
Cisco, Nokia, Hitachi, IBM, Huawei, Alstom, ABB, Atos, Eurotech, Bombardier,
Indra, Tech Mahindra, Thales, Toshiba, Trimble, Siemens, Sierra, Optasense,
Frequentis, Amadeus, Ansaldo, General Electric and EKE Electronics.
Table
of Contents (ToC) of the report:
Chapter 3. Railway Management System Market Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013-2024
3.4. Investment
3.5. Railway management system ecosystem
analysis
3.5.1. Railway management system solution
providers
3.5.2. Railway management system service
providers
3.5.3. System integrators
3.5.4. Value-Added Resellers (VARs) and
distributors
3.5.5. End users
3.6. Railway management system architecture
analysis
3.7. Railway management system evolution
3.8. Technology & innovation landscape
3.8.1. Blockchain technology
3.8.2. IoT
3.8.3. Cloud computing
3.9. Regulatory landscape
3.9.1. North America
3.9.2. Europe
3.9.3. Asia Pacific
3.9.4. LAMEA
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Rapid urbanization and demographic
growth
3.10.1.2. Government funding and PPP models
3.10.1.3. Rising trend of smart cities
3.10.1.4. Growing adoption of AI and cloud-based
services
3.10.1.5. Growing trend of IoT and digitalization
in rail transport
3.10.2. Industry Pitfalls and Challenges
3.10.2.1. Huge initial investment
3.10.2.2. Integration complexities
with legacy systems
3.10.2.3. Immature market conditions
3.11. Porter's Analysis
3.11.1. Threat of new entrants
3.11.2. Threat of substitutes
3.11.3. Bargaining power of buyer
3.11.4. Bargaining power of supplier
3.11.5. Industry rivalry
3.12. PESTEL analysis
3.13. Growth potential analysis
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Global Market Insights
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Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider, offering syndicated and custom
research reports along with growth consulting services. Our business
intelligence and industry research reports offer clients with penetrative
insights and actionable market data specially designed and presented to aid
strategic decision making. These exhaustive reports are designed via a
proprietary research methodology and are available for key industries such as
chemicals, advanced materials, technology, renewable energy and biotechnology.
Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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