(MENAFN- GlobeNewsWire - Nasdaq) Selbyville, Delaware, May 29, 2023 (GLOBE NEWSWIRE) --
Train Dispatching Market size is expected to cross a valuation of USD 2 billion by 2032, according to the latest research report by Global Market Insights, Inc.
The rapid rate of urbanization as well as demographic growth worldwide will influence the industry growth. In recent years, the increasing number of passengers travelling by rail network have spurred the higher focus of government bodies on enhancing the rail services. The growing government support across the globe for upgrading the railway infrastructure to speed up passenger journeys for ensuring interoperability will further drive the demand for train dispatching. However, the dearth of standards and protocols along with the rising concerns over interoperability in connected railway train dispatching systems may limit the industry expansion to some extent.
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Rising preference for train dispatching services
The demand for train dispatching services is poised to record over 12% CAGR from 2023 to 2032. The rising popularity of multi-network dispatching services has accelerated the higher need for well-trained employees as well as robust maintenance systems for ensuring smooth integration. The increasing preference for employee training and education, adoption, as well as support and maintenance will further drive the train dispatching market expansion.
Positive outlook in reporting & analysis
Train dispatching industry size from reporting & analysis applications is anticipated to exceed USD 700 million by 2032 attributed to the increasing importance of rail network velocity, efficiency, timely arrivals, and safety in fast-paced transportation markets. Computer-aided dispatching (CAD) systems have grown largely popular as they are designed for reducing the possibility of human errors while enhancing railway safety and stability. These systems also assist dispatchers to issue safe train movement authorities and integrate resource planning to keep the trains moving efficiently.
APAC region to emerge as a major revenue pocket
Asia Pacific train dispatching market is estimated to amass USD 400 million by 2032 owing to the rapid urbanization and the growing population in countries, including India and China. The presence of advanced railway technologies in Japan have led to the development of sustainable railway systems. The increasing volume of transportation has pushed various countries to improve their technology and services. The growing number of government initiatives and partnerships to cater to the rising technology needs will also influence the regional industry growth.
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Train Dispatching Industry Competitive Landscape
Hitachi Rail Ltd., Alstom SA, Motorola Solutions Inc., Hexagon AB, Wabtec Corporation, Mitsubishi Heavy Industries Ltd., Siemens AG, Thales Group, Tracsis PLC, and Toshiba are some of the prominent train dispatching business participants. These firms are constantly focusing on inorganic strategies, including mergers, partnerships, and acquisitions for scaled revenues.
For instance, in June 2022, Wabtec Corp. purchased the rail solutions segment of Aeronautical Radio Inc. (ARINC) a well-known dispatching and back-office system provider, from Collins Aerospace. The combined technologies from both the firms will help optimize rail networks and deliver rail ecosystems with enhanced productivity, efficiency and safety.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Train dispatching market 360o synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Offering trends
2.5 Application trends
2.6 Deployment model trends
2.7 Railroad trends
Chapter 3 Train Dispatching Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increased investments for public safety in smart city projects
3.10.1.2 Digitalization of railways
3.10.1.3 Growing adoption of cloud-based solutions
3.10.1.4 Use of artificial intelligence for decision-making
3.10.1.5 Rapid urbanization and demographic growth
3.10.2 Industry pitfalls & challenges
3.10.2.1 Integration complexities with legacy system
3.10.2.2 Lack of standardization
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis
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About 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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