Global Smart Railways Market is Anticipated to Achieve Mark a CAGR of 14% Over the Period 2018-2027

Smart railways integrate railway technology with information and communication technology and offers new generation services and solutions for rail operations. The increasing demand for smart railways is attributed to the rising deployment of IoT technologies and cloud-based services. Furthermore, rising application of Internet of things (IoT) has boosted the technological developments in various fields including sensors, network, radio access and other systems. Growing emergence of smart cities are further projected to propel the demand for smart railways over the forecast period. Global smart railways market is anticipated to achieve mark a CAGR of 14% over the period.

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Furthermore, the rail network operators in various countries are majorly focused on developing the analytics systems for improving the efficiency of railway system. The technology of smart railways offers new generation services, solutions and modern transportation with the help of ICT
Rail communication and networking system segment is projected to boost the revenue growth. Increasing requirement for Ethernet based infrastructure which includes modern train solutions, signaling for enhancing the capacity, safety and reliability of rail systems has further contributed to the market growth. Moreover, it also assists the railway operators for improving the system efficiency while lowering down the costs with industry-leading reliability.

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Furthermore, passenger information system (PIS) offers information safety, system reliability and the ability to rail operators for providing accurate information about train timings for enhancing the passenger satisfaction. It includes route information and scheduling, real-time train tracking passenger infotainment, travel planning, and online connectivity solutions.
Europe region holds the leading stance in the smart railways market in terms of revenue over the forecast period. Rising adoption of Internet of Things, large investments by government on smart railway projects and faster economic growth are some of the major factors that are estimated to propel the market growth over the forecast period. The adoption of Communication-Based Train Control (CBTC) and European Rail Traffic Management Systems (ERTMS) has strengthened cross-border transportation. This is anticipated to positively impact the growth of the smart railways market in Europe.

The market in Asia Pacific region is also projected to witness substantial growth over the forecast period. In China, high-speed train recently completed line run from Beijing to the northeast center of Harbin which has significantly reduced the travel time between the two stations. Further, the second portion of route connects Harbin to port city of Dalian via the Liaodong Peninsula in almost five hours. The government of China is focusing on the development of high-speed train in the country, which is further estimated to boost the market growth over the forecast period.

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Original Source:
https://www.marketwatch.com/story/global-smart-railways-market-is-anticipated-to-achieve-mark-a-cagr-of-14-over-the-period-2018-2027-2019-11-07

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