Press release
Railway Management System Market Growth Analysis 2024 By Top Key Players - Cisco, Nokia, Hitachi, IBM, Huawei, Alstom, ABB, Atos, Eurotech, Bombardier, Indra, Tech Mahindra, Thales, Toshiba, Trimble, Siemens
Railway Management System
Europe dominates the rail management system market with a revenue of USD 13.41 billion in 2017. Europe is the chief accessible railway market worldwide with the rail operators residing in this region making strategic investments for automating their railway solutions. Railway operators are also focusing on working towards the renewal of high-speed trains as well as improving the railway infrastructure and urban transportation systems. Furthermore, signaling projects are also being initiated in various countries including Poland, Netherlands, Hungry and Portugal driving the market growth.
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The railway traffic management system dominates the railway management system market with a market revenue of over USD 7 billion in 2017. This growth is attributed to the rising demand for smart transportation services and efficient rail traffic management. These systems assist in augmenting operation efficiency and improve the level of rail automation. Companies are working with various rail networks for developing traffic management tools thereby delivering augmented passenger experience. In September 2018, ETH Zurich and Swiss Federal Railways (SBB) launched an innovate traffic management solution thereby increasing the rail traffic capacity at reduced costs.
The on-premise deployment model holds the majority of the share in the railway management system market with a share of over 78% in 2017. These deployment models deliver enhanced flexibility in terms of data modifications, configurations and integration management driving their adoption in the market. However, the on-premise models require significant computing resources and large sensor networks due to which various rail authorities are now shifting towards cloud-based deployment models. For instance, VR a Finland based government owned railway company which operates around 6,000 kms of tracks is planning to move its all travel applications and website from on-premise to AWS cloud by the end of 2019.
Railway Management System Market is projected to surpass USD 64 billion by 2024. Factors such as increasing importance of sustainability, changing demographics, stringent government regulations, macroeconomic and microeconomic conditions, and the rising importance of smart cities coupled with the incredible growth of telecommunication and the need for mobility are driving the market demand. Furthermore, the adoption of technologies and solutions such as IoT, cloud computing, big data analytics and automation have accelerated the digital transformation in the railway industry. Railway companies in various countries have developed their digitalization initiatives and programs such as UIC digital platform, and Shift2Rail PPP to promote the digital transformation of railways. Hence, the automated rail is expected to be the future of transportation meeting the demands for capacity growth, optimizing operations and delivering services with enhanced safety and security.
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The leading players functioning in the railway management system market include Cisco, Nokia, Hitachi, IBM, Huawei, Alstom, ABB, Atos, Eurotech, Bombardier, Indra, Tech Mahindra, Thales, Toshiba, Trimble, Siemens, Sierra, Optasense, Frequentis, Amadeus, Ansaldo, General Electric and EKE Electronics. The companies are entering into strategic partnerships to expand their business offerings and serve a larger customer base. For instance, in September 2016, GE entered into a five-year partnership with Rio Tinto to optimize the Pilbara rail operations.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Railway Management System Industry Insights
Chapter 4. Competitive Landscape, 2017
Chapter 5. Railway Management System Market, By Component
Chapter 6. Railway Management System Market, By Deployment Model
Chapter 7. Railway Management System Market, By Region
Chapter 8 Company Profiles
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Related Report:
Global Railway Management System Market Size, Status and Forecast 2022
This report studies the global Railway Management System market, analyzes and researches the Railway Management System development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like ABB, IBM, Alstom SA, Ansaldo STS, Bombardier.
https://www.marketstudyreport.com/reports/global-railway-management-system-market-size-status-and-forecast-2022
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