Press release
Railway Management System Market Share 2024: Key Players - ABB, Alstom, Amadeus, Ansaldo STS, Atos SE, Bombardier, Cisco, DXC Technology, Eurotech, Frequentis, GE, Hitachi, Huawei, IBM, Nokia, OptaSense, Siemens AG, Thales Group, Trimble Inc., Toshiba Cor
Railway Management System Market
Strategic initiatives taken by the government that includes digitalization and smart cities along with the rising GDP of the Asian countries will drive the railway management system market in the Asia Pacific region. Moreover, the digital transformation within the railway sector has been further accelerated with the help of the adoption of technologies and various solutions like cloud computing, automation, big data analytics and IoT.
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APAC railway management system market share is expected to accrue substantial gains as it will grow at the rate of more than 14% CAGR over the analysis timeframe.
The transportation infrastructure in a few countries within the region is still developing with multiple companies investing strategically owing to the massive growth potential in the region which has been driving the demand for the product. For instance, China Railway Corp had invested USD 112 billion in the country's railway system for the development of its rail network.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
ABB, Alstom, Amadeus, Ansaldo STS, Atos SE, Bombardier, Cisco, DXC Technology, EKE-Electronics Ltd, Eurotech, Frequentis, General Electric, GAO RFID, Hitachi, Ltd., Huawei Technologies Co. Ltd., IBM, Indra, Nokia, OptaSense, Siemens AG, Thales Group, Trimble Inc., Toshiba Corporation
Rapid digitalization within the railway industry has resulted in increased adoption of IoT which will drive global railway management system market trends over the forecast timeframe. The technology helps the rail operators to obtain proper information regarding the location of the train and ensure the passenger's safety. It regulates the train's speed automatically basing it on real-time information which lowers the chances for any collision and encourages its adoption.
There are several factors like changing demographics, microeconomic & macroeconomic conditions, growing importance of sustainability, and emerging smart cities accompanied by the booming telecommunication sector and the need for mobility have been fostering railway management system market size over the years.
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Railway firms in several countries have been involved in the development of programs and digitalization initiatives like Shift2Rail PPP and UIC digital platform in order to promote railway's digital transformation. With growing passenger expectations in an increasingly competitive market, the train operating firms are constantly making efforts to satisfy the passengers by not just delivering arrival and departure timings, but more.
With the rapid deployment of digital technologies in the railways sector, the consumers are being delivered value-added services with enhanced customer experience, safety, reliability, efficiency as well as the total performance of the railway which is fostering the growth of the railway management system market.
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