Press release
Railway Management System Market is expected to reach USD 56.18 billion by 2023| Key players are Alstom SA (Saint-Ouen, France), General Electric (Connecticut, U.S.), ABB Ltd. (Zurich, Switzerland), Hitachi Limited (Tokyo, Japan).
Railway Management System Market was valued at USD 34.50 billion in 2018 and projected to reach USD 56.18 billion by 2023 growing at a CAGR of 10.2% during the forecast period 2018 to 2023.
Railway Management System Market Overview:
The rising trend of urbanization and growth in the adoption of advanced technologies has resulted into the rapid evolution of railway systems over the past decade. Radical developments in the railway environment, enabled by communication technologies require the existing strategies and business models adopted by rail operators to be updated. Railway management systems assist railway operators by making use of information technologies and control systems, providing advanced control centers for railway operations. Rail infrastructure is growing at an incredible rate in all regions of the world.
Browse details of 155 number of pages research report developed on Railway Management System Market @ https://www.researchcosmos.com/reports/global-railway-management-system-market-analysis-and-forecast-to-2022-growth-opportunity-assessmen/6106397
Railway Management System Market Growth Drivers and Restraints:
High population growth and increased urbanization in developing countries are the main drivers of the growth of the global market for railway management, followed by the saturation of infrastructure that creates a demand for more efficient and safer increase the capacity of the railways. Other key drivers include advances in technology, adoption of the Internet of Things, cloud models and other automated models to improve optimization. In addition, increasing government efforts and partnering with IT vendors to implement automated models to increase infrastructure efficiency is the primary driver of growth in the global market for highway management systems.
On the other hand, some constraining factors hinder the growth of the global market for railway management systems; high initial deployment cost, different security security standards, complex interoperability are some of them. Advances in technology have led to greater adoption of automated technology for efficient management of the rail network and infrastructure. Railway operations management systems, rail traffic management systems, rail asset management systems, railway control management systems and railway maintenance management systems are among the main opportunities offered by railways.
Geographic Insights of Railway Management System Market:
On a regional basis, the global market for railway management systems is segmented into seven regions: North America, Latin America, Europe, MEA and Asia Pacific. Of the regions mentioned, North America is expected to be the dominant market, followed by the Asia-Pacific region, as most South Asian countries are moving towards automated solutions in the rail sector.
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Key Market Players of Railway Management System Market:
Alstom SA (Saint-Ouen, France), Cisco Systems, Inc. (San Jose, U.S.), General Electric (Connecticut, U.S.), ABB Ltd. (Zurich, Switzerland), IBM Corporation (New York, U.S.), Hitachi Limited (Tokyo, Japan), Bombardier, Inc. (Quebec, Canada), Huawei Technologies Co. Ltd. (Shenzhen, China), Indra Sistemas SA (Alcobendas, Spain), Siemens AG (Munich, Germany), Alcatel-Lucent (Paris, France), Ansaldo STS (Genoa, Italy)
Railway Management System Market Key Segmentation:
By Solution:
• Rail Asset Management
• Track Monitoring
• Revenue Management
• Intelligent Signaling System
• Route Planning & Scheduling
• PTC
• CBTC
• PIS
• Security & Analytics
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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