(MENAFN- EIN Presswire)
Rail Asset Management Market
The governmental investments in various railway infrastructures and the trend of the PPP model for rail project implementation worldwide are driving the market.
PORTLAND, PORTLAND, OR, UNITED STATE, February 13, 2024 /EINPresswire / -- Allied Market Research published a new report, titled, " The Rail Asset Management Market Size Reach USD 17.5 Billion by 2031 | Top Players such as - Alstom, Capgemini & Siemens." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global rail asset management market was valued at USD 10 billion in 2021, and is projected to reach USD 17.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
Request Sample Report (Get Full Insights in PDF – 235 Pages) at:
Rapid urbanization, increase in the adoption of digitalization, surge in the demand for effective railroad operations, rise in the popularity of artificial intelligence, and growth in the prevalence of cloud-based railway management solutions are expected to drive the growth of the global rail asset management market. Shutdown of passenger transportation, delay or cancellation of projects and shortage of workforce during the pandemic had a negative impact on the growth of the global rail asset management market.
Rail asset management solutions are electronics, software, and advising components within asset management. These rail systems use the most detection and monitoring technology, customized software, and wireless connections to promptly and precisely collect data required for managing rail transport assets or maintaining and building railway system. These solutions include asset performance management, analytics, asset planning & scheduling, security, and workforce management. Therefore, rail asset management solutions assist proper freight management for various railway lines help government and private railway organization to function seamlessly.
If you have any questions, Please feel free to contact our analyst at:
Based on offering, the solution segment held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.3% during the forecast period. The report also analyses other segments such as the services segment.
Based on application area, the rail infrastructure segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The rolling stock segment, on the other hand, is expected to cite the fastest CAGR of 6.7% during the forecast period.
Enquiry Before Buying:
Based on region, the market across Europe held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.1% during the forecast period.
The key players analyzed in the global rail asset management market report include Alstom SA, Capgemini SE, Cisco Systems, Inc., Hitachi, Ltd., Huawei Technologies Co., Ltd., International Business Machines Corporation (IBM), L&T Technology Services Limited (LTTS), SAP SE and Siemens AG.
Buy Now & Get Exclusive Discount on this Report (235 Pages PDF with Insights, Charts, Tables, and Figures) at:
● The COVID-19 pandemic had a negative impact on the growth of the global rail asset management market, owing to the occurrence of lockdowns in various countries across the globe.
● Lockdowns resulted in the closure of all sorts of passenger transportation, including railways, buses, and others, which adversely impacted the growth of the market.
● In addition, there was delay or cancellation of ongoing projects due to the prevalence of stringent social distancing restrictions as imposed by the governments of various countries across the globe.
● These restrictions were imposed to curb the spread of the virus during the pandemic.
● However, the market is expected to recoup in the post-pandemic era after eased restrictions.
Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Allied Market Research INC
email us here
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.