Press release
Smart Railways Market | USD 27.31 billion | 13.38% CAGR by 2024
Smart Railways Market
Global Smart Railways Market Introduction
The factors driving smart railways market include increasing demand for cloud-based services, growing rate of hyper-urbanization, adoption of the Internet of Things are encouraging the demand of smart railways and influencing the market growth. Smart railways offer new generation solutions, services and modern transportation with the help of information and communication technology. Advancements in networking, artificial intelligence, and big data analytics have set the pace for the market growth of smart railways. Cisco Systems, Inc., General Electric, ABB Ltd., IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Siemens AG, are some of the leading providers of smart railways solution. To meet the increasing consumer demand for efficient and safer commute, the smart railways offers advanced and reliable service to the passengers. The global infrastructure development, expanding economy, and increasing global demographics are also propelling the demand for the smart railway. The smart railways provide improved operational efficiency, passenger experience and a high return on investments.
The global smart railways market was valued at USD 11.56 billion in the year 2017, which is expected to reach USD 27.31 billion by the end of the forecast period growing at 13.38% CAGR.
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Following Key Players are Profiled:
The key players of Smart Railways Market include Alstom SA, Cisco Systems, Inc., General Electric, IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Siemens AG, Bombardier, Inc., Indra Sistemas SA and Teleste.
Global Smart Railways Market Analysis & Forecast, from 2017 to 2024
•To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global smart railways market with analysis of its development and demand in the market
•Upcoming technologies, high growth geographies, and countries were identified in Smart Railways Market report
•Regional and country-specific demand and forecast for smart railways were studied
•Key segments covered in the Smart Railways Market report are component, services, solution, and application.
•Unit breakdown for all different classification was finalized and the same was referred for forecasting, keeping few assumptions into factor
•For all the regions, forecast demand for all applications was identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
•Historical trend is identified to forecast and estimate the future value data
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Global Smart Railways Market report shows the Target Audience:
Smart railways companies, Smart railways providers, Computer graphics developers, System integrators and third-party vendors, Government bodies, Technology investors , Research institutes and organizations, Market research and consulting firms, End-users/enterprise-users
Key Findings
•The global smart railways market is expected to reach USD 27.31 billion by 2024.
•By component, video surveillance cameras in smart railways account for the largest market share and are growing with approximately ~12.76% CAGR during the forecast period.
•The Smart Railways Market report By type, stations sub-segment holds the largest market growing with approximately 12.95% CAGR by the end of the forecast period.
•Geographically, Europe region has been projected to have the largest market share in global smart railways market followed by North America, while Asia-Pacific region has been projected to show positive growth in smart railways market.
Regional and Country Analysis of Smart Railways Market Estimation and Forecast
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