Press release
Advancements in the Rail Technology Are Driving the Growth of the Train Control Management System Market
The market is predominantly driven by rapid urbanization, increasing demand for safety and security in railway systems, infrastructural growth, and advancements in the rail technology.
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Globally, Europe led the train control management system market during the historical period, accounting for over 45% revenue in 2017. The region is expected to continue leading the market in the coming years as well. However, during the forecast period, the market is expected to witness the fastest growth in the Rest of the World (RoW) region, primarily due to the increasing urban population in the developing countries of the region, which, in turn, is generating the demand for rapid public transit systems.
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The new technologies have made the railways more reliable and comfortable, thus enhancing the passenger experience. Besides, these advancements have helped prevent accidents or casualties through operation monitoring and data transmission, thereby making the railways safer. Hence, technological advancements are expected to continue driving the growth of the train control management system market in the coming years.
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Train Control Management System Market - Competitive Landscape
Some of the major players operating in the train control management system market are Alstom S.A., Bombardier Inc., Toshiba Corporation, Siemens AG, Construcciones y Auxiliar de Ferrocarriles S.A., China Railway Signal & Communication Corporation Limited, and Knorr-Bremse AG.
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