Press release
Smart Railways Market 2019 Global Industry Analysis by Key Leaders: Cisco Systems, General Electric, Hitachi Limited, Huawei Technologies, Siemens, Bombardier, Indra Sistemas
The global smart railways market is anticipated to touch USD 27.31 billion at a stellar 13.38% CAGR over the forecast period (2018-2024). Smart railway that comprises of smart ticketing, freight information systems and e-catering are indeed a reality. It is helping a great deal in the transport efficiency and eventually reducing costs by automating different processes and also leveraging technology with an aim to augment services. These railways are built through data analytics, cloud computing and GSM-R systems. Smart railway systems are bundling components and devices, services and solutions that helps in automating and optimizing the use of railway infrastructure to perform advanced functions. As railways being amid the most preferred and widely used transportation medium, the smart railways are likely to see a notable growth during the foreseeable future. Its implementation provides automated infrastructure for maintenance, management and operations of rail transportation.
There are a couple of factors that is driving the growth of the smart railways market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include rising penetration of latest technologies, improved logistics, increasing growth of PIS solution, increasing population, increasing security and safety concerns amid passengers, growth in urbanization, efficient, hassle-free and fast services, innovations in rail technology and mandatory regulations by the government to implement smart features in the railway sector. But on the contrary, there are a couple of factors that may hamper the growth of the smart railways market such as security threats associated to smart rail devices, maintenance cost and high security needs in smart railways and lack of information as well as communication technology infrastructure.
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Major Key Players
• Alstom SA (France),
• Cisco Systems, Inc. (U.S.),
• ABB Ltd (Switzerland),
• International Business Machines Corporation (U.S.),
• Hitachi Limited (Japan),
• Bombardier, Inc. (Canada),
• Huawei Technologies Co. Ltd. (China),
• Indra Sistemas S.A. (Spain),
• Siemens AG (Germany),
• Alcatel-Lucent (France)
According to Market Research Future, global Smart Railways Market is expected to grow at approximately USD 17 Billion by 2024, at a CAGR of approx. 12% between 2016 and 2024
Industry Updates
Sept 2018- Huawei of late has launched two innovative solutions at InnoTrans in Berlin, Germany- Railway Internet of Things and Urban Rail Cloud. These platforms will help in creating intelligent, efficient and more-secure safety monitoring systems and railway disaster prevention to help customers create intelligent railways having comprehensive sensing capabilities.
August 2018- Indian Railways in the coming 6-8 months is planning to introduce 6000 railway stations all over the country that is Wi-Fi enabled with an aim to offer high-speed internet in the remote areas.
Segmentation:
For analysis, the global smart railways market is segmented on the basis of the type, component, solution, services, and region. The market by type is further sub-segmented into station and onboard. The component is sub-segmented into multimedia infotainment displays, video surveillance cameras, and networking & connectivity devices. The solutions are segmented into advanced security monitoring systems, passenger information systems, rail communication & networking systems, freight information systems, rail analytics systems, smart ticketing systems. The services are segmented into system integration & deployment, consulting services, and support & maintenance. The market is covered across regions including North America, Europe, Asia Pacific, and Rest of the World.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Regional Analysis
By region, the global smart railways market demand is gaining momentum across various geographical regions including North America, Europe, Asia Pacific, among others. The European region is leading due to increasing adoption of the internet of things which enables improved communications and control pertaining to railway systems. Furthermore, the integration of advanced analytics and machine learning in smart railway systems are propelling the market growth.
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Intended Audiences
• Smart railways companies
• Smart railways providers
• Computer graphics developers
• System integrators and third-party vendors
• Government bodies
• Technology investors
• Research institutes and organizations
• Market research and consulting firms
• End-users/enterprise-users
List of Tables
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL SMART RAILWAY MARKET, BY TYPE, 2018-2024
TABLE 3 GLOBAL SMART RAILWAY STATIONS MARKET, BY COMPONENT, 2018-2024
TABLE 4 GLOBAL SMART RAILWAY STATIONS MARKET, BY SERVICE, 2018-2024
TABLE 5 GLOBAL SMART RAILWAY STATIONS MARKET, BY SOLUTION, 2018-2024
TABLE 6 GLOBAL SMART RAILWAY ON-BOARD TRAINS MARKET, BY COMPONENT, 2018-2024
Continued……
List of Figures
FIGURE 1 GLOBAL SMART RAILWAY MARKET: MARKET STRUCTURE
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DROC ANALYSIS OF GLOBAL SMART RAILWAY MARKET
FIGURE 4 DRIVERS IMPACT ANALYSIS: SMART RAILWAY MARKET
Continued……
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
+1 646 845 9312
sales@marketresearchfuture.com
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