Press release
Rail Asset Management Market Ongoing Trends and Recent Developments | Key Players like Siemens, IBM, Alstom, Hitachi and Wabtec
According to recent research "Rail Asset Management Market by Solution (Condition Monitoring, Predictive Maintenance, Asset Planning & Scheduling, Analytics, Workforce Management & Security), Services, Application (Rolling Stock & Infrastructure), and Region - Global Forecast to 2024", published by MarketsandMarkets, the global rail asset management market size to grow from USD 9.0 billion in 2019 to USD 12.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period.Major factors expected to drive the growth of the rail asset management industry include increasing adoption of Internet of Things (IoT) and other automation technologies to enhance optimization and address the issue of increasing congestion due to aging railway infrastructure.
Browse 106 market data Tables and 35 Figures spread through 150 Pages and in-depth TOC on "Rail Asset Management Market”
https://www.marketsandmarkets.com/Market-Reports/rail-asset-management-market-222416351.html?utm_source=Openpr
By offering, services segment to record a higher growth rate during the forecast period
Trains carry millions of tons of freight and tens of millions of passengers each year, and rail companies entirely rely on efficient and reliable asset operations and rail infrastructure to successfully meet the growing demand. Information and Communication Technology (ICT) has played a significant role in providing asset and operations management services for rail companies.
To build a smarter railway system infrastructure, railway experts demand smart railway management system services. Service providers help in implementing rail solutions. The benefits of employing railway management system services are improved rail operations performance, reduced complexities and reduced operating expenses, standardized and improved rail infrastructure, improved engagement cash flow and profitability, maximized strategic value of rail solutions, simplified project planning and execution, streamlined project lifecycle, real-time decisions, security, and improved resource productivity. The services have been bifurcated into 2 segments, namely, professional services and managed services.
By service, the managed services segment to grow at a higher rate during the forecast period
Under managed services, certain Information Technology (IT) operations are outsourced to a service provider who distantly maintains the customer’s IT infrastructure. Organizations need to optimize resource utilization, which is one of the major factors, to fuel the growth of the rail asset management market. Managed services provide constant upgrades and customized features to fulfill the customers’ ever-growing demands. As a result, companies are rapidly outsourcing their tasks to Managed Service Providers (MSPs). Global managed service providers comprise vendors from diverse backgrounds, ranging from specialized MSPs to system integrators and Value-Added Resellers (VARs).
Ask for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=222416351&utm_source=Openpr
Europe to account for the largest market size during the forecast period
Countries from Western Europe, such as the UK, France, and Germany, have well-established railway infrastructure, and many railway operators in this region use some of the advanced rail asset management solutions. European countries have been investing majorly to modernize and upgrade their existing rail infrastructure. Social and trade agreements among the European Union (EU) countries have promoted large-scale, cross-border trade, and passenger traffic in Europe.
High growth is expected in this region, especially in the communication technology, as the European Telecommunications Standards Institute (ETSI) has formed a separate committee to focus on the Machine-to-Machine (M2M) communication privacy standardization and high trading standards. The dynamics of the rail industry in Europe are changing rapidly with new freight and passenger management systems. To boost the efficiency of the existing infrastructure, many European countries are expected to adapt to new rail asset management solutions.
Key and emerging market players include Siemens (Germany), IBM(US), Alstom (France), Hitachi (Japan), Wabtec (US), SAP (Germany), Trimble (US), Bentley Systems (US), Bombardier (Canada), Atkins (UK), Cisco (US), DXC Technology (US), Trapeze (Canada), Tego (US), Konux (Germany), L&T Technology Services Limited (India), Capgemini (France), Accenture (Ireland), Huawei Technologies (China), and Cyient (India). These players have adopted various strategies to grow in the Rail asset management market.
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com
MnM Blog: https://mnmblog.org/
Content Source: https://www.marketsandmarkets.com/PressReleases/rail-asset-management.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Rail Asset Management Market Ongoing Trends and Recent Developments | Key Players like Siemens, IBM, Alstom, Hitachi and Wabtec here
News-ID: 1871279 • Views: …
More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for…

With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth.
Download PDF Brochure @…

Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing…

Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of…
More Releases for Europe
2019 Strategy Consulting Market Analysis | McKinsey, The Boston Consulting Group …
Strategy Consulting Market reports also offer important insights which help the industry experts, product managers, CEOs, and business executives to draft their policies on various parameters including expansion, acquisition, and new product launch as well as analyzing and understanding the market trends
Need for strategic planning in highly competitive environment and to develop business capabilities to meet & exceed the emerging requirements are the major drivers which help in surging…
Strategy Consulting Market 2025 | Analysis By Top Key Players: Booz & Co. , Rola …
Global Strategy Consulting Market 2019-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The key players covered in this study
McKinsey , The Boston Consulting Group , Bain & Company , Booz & Co. , Roland Berger Europe…
Digital Strategy Consulting Market is Thriving Worldwide with Deloitte, McKinsey …
A Digital Strategy is a form of strategic management and a business answer or response to a digital question, often best addressed as part of an overall business strategy. A digital strategy is often characterized by the application of new technologies to existing business activity and focus on the enablement of new digital capabilities to their business.
A new report as a Digital Strategy Consulting market that includes a comprehensive analysis…
Strategy Consulting Market 2019: By McKinsey, The Boston Consulting Group, Bain …
This report studies the global Strategy Consulting market, analyzes and researches the Strategy Consulting 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
• McKinsey
• The Boston Consulting Group
• Bain & Company
• Booz & Co.
• Roland Berger Europe
• Oliver Wyman Europe
• A.T. Kearney Europe
• Deloitte
• Accenture Europe
Get Sample Report@ https://www.reporthive.com/enquiry.php?id=1247388&req_type=smpl&utm_source=AB
Market segment by Type, the product can be split into
• Operations Consultants
• Business Strategy Consultants
• Investment Consultants
• Sales and…
Strategy Consulting Market Analysis 2018: McKinsey, The Boston Consulting Group, …
Orbis Research Present’s “Global Strategy Consulting Market” magnify the decision making potentiality and helps to create an effective counter strategies to gain competitive advantage.
The global Strategy Consulting status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Strategy Consulting development in United States, Europe and China.
In 2017, the global Strategy Consulting market size was million US$ and it is expected to reach million…
Influenza Vaccination Market Global Forecast 2018-25 Estimated with Top Key Play …
UpMarketResearch published an exclusive report on “Influenza Vaccination market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 115 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Influenza Vaccination market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This…