Railway Management System Market: Growth and Opportunity, in-depth Analysis by Allied Market Research
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In 2016 the railway traffic management systems segment accounted for the highest share in the market, and is expected to witness highest growth rate from 2017 to 2023, owing to high demand for rail traffic management such as traffic control, scheduling & planning, routing, signaling, and monitoring. This offers efficient solutions to increase time utilization and network capabilities. Furthermore, it regulates the traffic, offers solutions for disaster management over the network, and reduces possible delays in the operation.
The European region was the highest revenue contributor in the global railway management system market in 2016, due to its advanced technical aspects, high adoption of IoT, and well equipped with enormous railway infrastructure. Furthermore, the urban transport and highly developed infrastructure in the key countries, such as France, Germany, UK, and Italy, have lured the key vendors into investing in technological development of railway management solutions of these regions. The LAMEA railway management systems market is expected to grow at the highest rate during the forecast period, owing to the unprecedented increase in demand for technological upgrade of railway infrastructure in Africa and South America.
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The key players profiled in the study are Alstom SA, Cisco Systems, Inc., General Electric, ABB Limited, IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Indra Sistemas SA, Siemens AG, and Alcatel-Lucent. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the railway management system market.
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The services segment accounted for the highest share in the global railway management system industry in 2016, growing at a CAGR of 16.1% from 2017 to 2023.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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