Railway Management System Market set for years of strong growth By Huawei Technologies, IBM, Alstom, ABB, Amadeus, Ansaldo STS, Atos, Bombardier, Cisco, DXC Technology, Nokia, GE
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Railway Management System Market will grow at a CAGR of over 10% with USD 64 billion by 2024. The cloud deployment model is growing at the fastest rate in the railway management system market due to various benefits that it offers such as ongoing software updates and easy access anywhere using the browser, making it easier for rail authorities to carry out their operations.
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The Asia Pacific railway management system market is anticipated to grow at the fastest rate at a CAGR of over 14% over the forecast timeframe. The major factors contributing to market growth in this region include the strategic initiatives adopted by the government, which include smart cities and digitalization coupled with the increasing GDP of the Asian countries. Furthermore, as transportation infrastructure in some of the countries is still in development phases, various companies are making strategic investments in this region due to a huge growth potential driving the railway management system market demand. For instance, in January 2018, China Railway Corp invested USD 112 billion to bring about the development of China’s fast rail network.
The system integration & deployment service segment dominates the railway management system market with a industry revenue of over USD 1 billion in 2017. Railway operators are working toward transforming their traditional network systems with advanced IP-based technologies. Hence, adopting efficient system integration & deployment services assist them in integrating their existing legacy systems with new technologies as well as deploying new systems for creating cost-efficient and highly-scalable & secured solutions delivering an enhanced end-to-end connectivity. These services also assist rail operators by reducing their deployment time & cost enabling, efficient work capabilities with reduced disruptions.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
4. Ansaldo STS
5. Atos SE
8. DXC Technology
9. EKE-Electronics Ltd
12. General Electric
13. GAO RFID
14. Hitachi, Ltd.
15. Huawei Technologies Co., Ltd.
20. Siemens AG
21. Thales Group
22. Trimble Inc.
23. Toshiba Corporation
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The Passenger Information System (PIS) holds the highest growth potential in the railway management system market. Due to a rising competition in the market and growing passenger expectations, train operating companies are continually striving to augment passenger satisfaction by delivering more information than just departure and arrival timings. Various reference messages and advertising content are displayed on the information devices inside & outside trains, enabling passengers to know their precise location, next train stops, and other beneficial information related to the train’s path. In December 2018, Luminator Technology Group (LTG) partnered with KeTech Systems Limited (KeTech) for developing real-time enhanced passenger information systems. This will provide flexible solutions delivering content-rich & real-time information to its passengers.
The railway management system market growth is attributed to the increasing adoption of IoT and digitalization in the railway industry. IoT allows the rail operators to have proper information about the train’s location with respect to other trains to ensure passengers’ safety. It also automatically regulates the trains speed on the basis of real-time information, in turn, reducing the chances of collision driving their adoption in the railway management system market. The deployment of digital technologies in railways enhances the customer experience by delivering value-added services to its customers, increasing reliability, safety, efficiency, and the overall performance of the railways driving market growth.
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The major companies working in the railway management system market include ABB, Ansaldo, EKE Electronics, Frequentis, Cisco, IBM, Nokia, Huawei, Bombardier, Indra, Toshiba, Trimble, Thales, Hitachi, Siemens, Alstom, Atos, Sierra Wireless, Thales, and Amadeus. These companies offer various rail management solutions & services to meet the growing needs of passengers. The major strategy adopted for expansion is partnerships & collaborations as it assists the companies to expand their regional presence, thereby serving a larger customer base.
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