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Train Communication Gateways Systems Market
The others segment is expected to exhibit the highest growth during the forecast period
Rising demand for intelligent transport systems and extensive adoption of mobility and interoperability are expected to drive the global train communication gateways systems market growth.
” - Allied Market ResearchWILMINGTON, NEW CASTLE, DE, UNITED STATES, October 17, 2024 /EINPresswire / -- The global Train Communication Gateways Systems Market size was valued at $124.3 million in 2022, and is projected to reach $1.3 billion by 2032, growing at a CAGR of 26.1% from 2023 to 2032. Train communication gateways refer to the products and solutions offered by companies to address the growing need for interconnected and intelligent train systems. These gateways facilitate the integration of emerging communication technologies, support data exchange between various subsystems, and contribute to the overall development of advanced train communication infrastructures.
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Factors such as development in digitalization, increasing need for smart rail frameworks, and expansion in reception of cutting-edge technologies positively influence the development of the market. In addition, rise in adoption of communication devices, advancements in digital technology, and growth in demand for automation are expected to fuel the growth of the market during the forecast period. Furthermore, the expansion of network management applications in various industries is expected to provide lucrative growth opportunities for the market in the upcoming years. Moreover, development of data management technology to enable real-time processing of data and reduce latency and adoption of cloud solutions to enable scalability, flexibility, and cost-effectiveness of train communication systems propels the global market growth
By application, the conventional railways segment accounted for the largest share in 2022, contributing for more than three-fifths of the train communication gateways systems market revenue , as railways are highly efficient for mass transportation of passengers and freight over long distances. However, the rapid transit railways segment is expected to attain the largest CAGR of 27.6% from 2023 to 2032 and is projected to maintain its lead position during the forecast period as rapid transit systems are generally more cost-effective than building and maintaining road infrastructure to accommodate the same volume of passengers. Thereby, driving the growth of this segment in the global train communication gateways systems market.
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On the basis of region, North America attained the highest growth in 2022. The presence of prominent players has influenced the growth of the train communication gateways systems market in North America. Moreover, rise in government initiatives to strengthen rail infrastructure across the region is further expected to drive the demand for train communication gateways systems market forecast solutions. However, Asia-Pacific is projected to be the fastest-growing segment during the forecast period, owing to availability of cost-effective digital solutions and rise in the amount of data generation across organizations. In addition, the proliferation of advanced technologies escalates system safety and reduces delays in database operations.
By region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the train communication gateways systems market revenue. Increase in the usage of train communication gateways systems in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to attain the highest CAGR of 31.1% from 2023 to 2032. Countries such as India and China are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which further is expected to contribute to the growth of the market in this region.
The key players profiled in this report include
AMiT Transportation, Ingeteam, haslerrail ag, SYS TEC electronic, quester tangent, eke-electronics ltd, Siemens AG, Duagon AG, General Electric, Advantech Co., Ltd.
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Train communication gateways refer to the products and solutions offered by companies to address the growing need for interconnected and intelligent train systems. These gateways facilitate the integration of emerging communication technologies, support data exchange between various subsystems, and contribute to the overall development of advanced train communication infrastructures.
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On the basis of application, the conventional railways segment is expected to grow at the highest growth rate during the forecast period, as railways are highly efficient for mass transportation of passengers and freight over long distances. However, the rapid transit railways segment is projected to be the fastest-growing segment during the forecast period, as rapid transit systems are generally more cost-effective than building and maintaining road infrastructure to accommodate the same volume of passengers. Thereby, driving the growth of the train communication gateways systems market.
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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.