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DUBLIN, Nov. 25, 2022 /PRNewswire/ -- The 'global digital railway market size, share & industry trends analysis report by offering, by application (rail operations management, asset management, passenger information system, and others), by regional outlook and forecast, 2022 - 2028' report has been added to
The Global Digital Railway Market size is expected to reach $103.7 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period.Providing a more dynamic, responsive, and functional railway for rail passengers in the digital era is the goal of the digital railway transformation. Humans Government is expected to be able to provide services more effectively and affordably than could with current technology due to digital train control. The railway will have the additional capacity as a result, and performance, safety, and sustainability will all increase.The Secretary of State for Transportation and the CEO of Network Rail jointly launched the Digital Railway Strategy in 2018, which outlined the delivery strategy for digital installation across the network and identified and prioritized the projects with the strongest business cases. Train-fitting and infrastructure upgrades are coordinated by a long-term Digital Railway deployment plan.This is expected to make it possible to transition to fully digital operation in the future with the least amount of expense, time, effort, and disruption to the railway's operations. The proposal considers the scope and difficulty of modifying more than 19,000 miles of rail and fitting out more than 4,000 trains for one of the largest and most intensively run rail networks in the world.A railway of this scale and complexity cannot be swiftly constructed. To manage the switch to digital technology and preserve the continuity of services for passengers and cargo operators, a project this size will require a regular schedule of asset replacement. In the past, business models used by railroad organizations were primarily focused on engineering and operations.The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions. COVID-19 Impact Analysis The government's ambition to digitally transform every industry drove market expansion. The businesses had enough time to introduce new technology slowly. IoT devices and modern technology were more widely accepted during the pandemic situation, which encouraged businesses to adopt modern technologies to meet customer demands and to simplify challenging processes, including ticket booking, freight management, and others, that aided in the market's expansion.
The COVID-19 health crisis has a significant influence on all activities, and the containment measures that have been implemented as a result have had long-term negative financial and economic effects. Market Growth Factors
The Number Of Rail Passengers Has Increased In Recent Years The number of passengers using trains has dramatically increased during the past few years in many different nations. Railway operators require a variety of digital railway solutions, such as traffic management tools, passenger information systems, and passenger analytics, to effectively manage the passenger traffic and deliver high-quality transportation services to an increasing number of passengers. These solutions improve client travel experiences while boosting the effectiveness of railroad operations. Demand For Cutting-Edge Transportation Infrastructure Is Increasing All forms of railroad traffic are directly impacted by the effects of globalization. An increase in speed, security, and dependability is in demand. Therefore, regardless of the distance traveled or the anticipated number of steps needed to reach the destination, the next railway transportation ecosystem must provide solutions to satisfy the demand from source to destination with a high quality of service. People's needs are evolving continuously, necessitating the development of more accessible travel options. Market Restraining Factors
The Absence Of Robust Rail Infrastructure In Developing Nations Some developing nations still don't have the resources to upgrade their train systems. Investment in rail infrastructure becomes more important than the digitization of the infrastructure for nations lacking robust train networks. Implementing cutting-edge digital technology requires a robust train infrastructure as well as a robust communication system. Only when used at a particular degree of scale are some digital technologies, like traffic management or passenger analytics, effective.
Key Topics Covered: Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview 2.1 Introduction2.1.1 Overview22.214.171.124 Market composition & scenarios2.2 Key Factors Impacting the Market2.2.1 Market Drivers2.2.2 Market Restraints Chapter 3. Competition Analysis - Global 3.1 Cardinal Matrix3.2 Recent Industry Wide Strategic Developments3.2.1 Partnerships, Collaborations and Agreements3.2.2 Product Launches and Product Expansions3.2.3 Acquisition and Mergers3.3 Market Share Analysis, 20213.4 Top Winning Strategies3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)3.4.2 Key Strategic Move: (Acquisitions and Mergers : 2018, Mar - 2022, Jun) Leading Players Chapter 4. Global Digital Railway Market by Offering 4.1 Global Solutions Market by Region4.2 Global Digital Railway Market by Solutions Type4.2.1 Global Remote Monitoring Market by Region4.2.2 Global Network Management Market by Region4.2.3 Global Route Optimization And Scheduling Market by Region4.2.4 Global Predictive Maintenance Market by Region4.2.5 Global Analytics Market by Region4.2.6 Global Security Market by Region4.2.7 Global Others Market by Region4.3 Global Services Market by Region4.4 Global Digital Railway Market by Services Type4.4.1 Global Professional Services Market by Region4.4.2 Global Managed Services Market by Region Chapter 5. Global Digital Railway Market by Application 5.1 Global Rail Operations Management Market by Region5.2 Global Asset Management Market by Region5.3 Global Passenger Information System Market by Region5.4 Global Other Market by Region Chapter 6. Global Digital Railway Market by Region Chapter 7. Company Profiles 7.1 Siemens AG7.1.1 Company Overview7.1.2 Financial Analysis7.1.3 Segmental and Regional Analysis7.1.4 Research & Development Expense7.1.5 Recent strategies and developments:126.96.36.199 Partnerships, Collaborations, and Agreements:188.8.131.52 Product Launches and Product Expansions:184.108.40.206 Acquisition and Mergers:7.1.6 SWOT Analysis7.2 ABB Group7.2.1 Company Overview7.2.2 Financial Analysis7.2.3 Segmental and Regional Analysis7.2.4 Research & Development Expense7.2.5 Recent strategies and developments:220.127.116.11 Partnerships, Collaborations, and Agreements:7.2.6 SWOT Analysis7.3 Fujitsu Limited7.3.1 Company Overview7.3.2 Financial Analysis7.3.3 Segmental Analysis7.3.4 SWOT Analysis7.4 IBM Corporation7.4.1 Company Overview7.4.2 Financial Analysis7.4.3 Regional & Segmental Analysis7.4.4 Research & Development Expenses7.4.5 SWOT Analysis7.5 Cisco Systems, Inc.7.5.1 Company Overview7.5.2 Financial Analysis7.5.3 Regional Analysis7.5.4 Research & Development Expense7.5.5 Recent strategies and developments:18.104.22.168 Acquisition and Mergers:7.5.6 SWOT Analysis7.6 ALSTOM Holdings7.6.1 Company Overview7.6.2 Financial Analysis7.6.3 Segmental and Regional Analysis7.6.4 Research & Development Expenses7.6.5 Recent strategies and developments:22.214.171.124 Partnerships, Collaborations, and Agreements:126.96.36.199 Product Launches and Product Expansions:188.8.131.52 Acquisition and Mergers:7.7 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)7.7.1 Company Overview7.7.2 Financial Analysis7.7.3 Segmental and Regional Analysis7.7.4 Research & Development Expense7.7.5 Recent strategies and developments:184.108.40.206 Partnerships, Collaborations, and Agreements:220.127.116.11 Product Launches and Product Expansions:7.8 Thales Group S.A.7.8.1 Company Overview7.8.2 Financial Analysis7.8.3 Segmental and Regional Analysis7.8.4 Research and Development Expense7.8.5 Recent strategies and developments:18.104.22.168 Partnerships, Collaborations, and Agreements:22.214.171.124 Product Launches and Product Expansions:126.96.36.199 Acquisition and Mergers:7.9 Hitachi, Ltd.7.9.1 Company Overview7.9.2 Financial Analysis7.9.3 Segmental and Regional Analysis7.9.4 Research & Development Expenses7.9.5 Recent strategies and developments:188.8.131.52 Partnerships, Collaborations, and Agreements:184.108.40.206 Product Launches and Product Expansions:220.127.116.11 Acquisition and Mergers:7.10. Wabtec Corporation7.10.1 Company Overview7.10.2 Financial Analysis7.10.3 Regional & Segmental Analysis7.10.4 Recent strategies and developments:18.104.22.168 Partnerships, Collaborations, and Agreements:22.214.171.124 Product Launches and Product Expansions:126.96.36.199 Acquisition and Mergers:
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