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Railway Management System Market 2021 Coronavirus (COVID-19) Updated Analysis By Key Players General Electric Company, ABB Limited, Alstom SA
Market Insights Reports delivers key insights on the Railway Management System market in its latest report titled, “Railway Management System Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The railway management system market is expected to reach a CAGR of 12% during the forecast period (2021 - 2026).
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Top Key Players in the Global Railway Management System Market: General Electric Company, ABB Limited, Alstom SA, Cisco Systems Inc., IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Siemens AG, Indra Sistemas SA, Alcatel-Lucent Enterprise, Thales Group
- In November 2019, Alstom SA signed a second ten-year maintenance contract for ETCS equipment belonging to SBB, the Swiss national railway company. This contract extension is aimed to ensure the availability of spare parts and the large SBB fleet for the smooth operation of rail traffic in Switzerland.
Market Overview:
Global trends, such as digitization, automation technologies to enhance optimization, government initiatives, connectivity, sustainability, energy conservation, and integration of IoT, are expected to be the major factors for the growth of the market.
- Railway 4.0, also known as Digital Railway, is a major trend that leads to the automation of railway operations, is boosting the growth of the market. Moreover, the railway industry embraces disruptive technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), big data analytics, cloud computing, and cybersecurity, which are likely to contribute to the growth of the market.
- The global population is expected to reach 9.8 billion by 2050, out of which 75% will dwell in cities. Hence, it has become imperative for public agencies to ensure that the transportation sector, specifically the rail network, is ready to meet the growing connectivity needs. Moreover, the emerging trend of smart cities is also boosting the railway management system market.
- The growth of the railway management system is expected to be primarily driven by the growing need for urban connectivity, increased integration of IoT- based solutions, and higher emphasis on reducing emissions.?By 2050, it is expected that passenger mobility will increase by 200-300%, and freight activity will increase by 150-250%.
- Integration of the smart systems to communicate across traditional railway infrastructure, high investment in the development of software portfolio, minimizing error rates due to increasing system complexity and implementation of weatherproof sensors are identified as the major challenges faced by the market.
- Due to the ongoing COVID-19 outbreak, the automotive & transportation industry is amongst the most affected vertical and is facing huge losses due to lockdown across the world. Therefore the growth of the market is likely to fall till the resurgence of the industry.
Regional Analysis:
The report offers an in-depth assessment of the growth and other aspects of the Railway Management System market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Asia-Pacific to Witness Highest Growth
- Asia-Pacific is expected to account for the highest growth due to the rising adoption of new technologies and high investments for digital transformation. Moreover, the increasing GDP of countries such as Australia, Singapore, China, Korea, Hong Kong, and India further boost the market growth.
- India, one of the fastest-growing economies in the world, is actively investing in the further development of its railway services. The country's railway ministry allocated a budget of USD 22.4 billion to develop the Indian railway network for the 2020-21 financial year.
- With this, India aims to reduce fatalities, prevent derailment by the installation of online monitoring of rolling stock, implementation of ERP, wireless corridor, heavy-haul trains specializing in the freight business, and development of specialized R&D Center.
This Railway Management System Market report addresses:
- The Market size from 2016-2021
- Expected market growth until 2026
- Forecast of how market drivers, restraints, and future opportunities will affect
- Segment and regions that will drive or lead the market growth and why
- Comprehensive mapping of the competitive landscape
- In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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