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Railway Management System Market: Huge Growth Opportunities | Industry Trends | Market Analysis & Global Forecast to 2023

11-19-2018 07:07 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Railway Management System Market: Huge Growth Opportunities |

Railway Management System Market incorporates various tools and services that enable better management of the rail industry. It includes various activities, such as traffic planning, operation management, power supply & infrastructure management, maintenance & support, station control & communication network, rail-facility information management, and others. Furthermore, the major tools used in the global railway management industry include rail traffic management system, rail asset management system, rail operation management system, rail control system, and rail maintenance management system.

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Railway management system offers better operation & control, asset management, energy management, traffic planning, staff & passenger information management, data analytics, and others. Moreover, advanced train management systems use advanced digital communication and on-train processing to keep track of speed and location of trains. Furthermore, railway management system offers disaster management, which is proven to be vital for the protection of asset and human lives.

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According to a new report by Allied Market Research, titled, Railway Management System Market by Component: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global railway management system market was valued at $29,434 million in 2016, and is projected to reach $82,973 million by 2023, growing at a CAGR of 16.6% from 2017 to 2023. The solution segment is anticipated to grow at the highest growth rate during the forecast period.

The European region was the highest revenue contributor in the global railway management system market in 2016, due to its advanced technical aspects, high adoption of IoT, and well equipped with enormous railway infrastructure. Furthermore, the urban transport and highly developed infrastructure in the key countries, such as France, Germany, UK, and Italy, have lured the key vendors into investing in technological development of railway management solutions of these regions. The LAMEA railway management systems market is expected to grow at the highest rate during the forecast period, owing to the unprecedented increase in demand for technological upgrade of railway infrastructure in Africa and South America.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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