Press release
Smart Railway Market to Reach $38.46 Billion, Globally, by 2027 | Cisco Systems, Huawei Technologies., IBM, Indra Sistemas, Hitachi
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐- https://www.alliedmarketresearch.com/request-sample/412
Determinants in the market-
Increase in urbanization and local commute requirements, surge in demand for passenger and freight capacity, growth in number of railway projects across the globe, and changing passenger payment habits drive the growth of the smart railway market. However, high installation cost and infrastructure changes of existing system curtail down the growth to certain extent. Moreover, changing ridership outlook and winning agreement offer a number of lucrative opportunities to the market players.
COVID-19 Scenarios-
A massive downfall has been witnessed by the rail industry during the outbreak of covid-19. The travel ban, during the first phase of the lockdown, decreased the revenue of the industry.
However, as the government bodies are initiating to lift up the restrictions partially, the industry is expected to pick up the track soon.
Get detailed COVID-19 impact analysis on the Smart Railway Market Request Here!
The smart ticketing system segment to dominate the market by 2027-
Based on system, the smart ticketing system segment contributed to nearly one-fifth of the global smart railway market share in 2019. On the other hand, the rail & freight operations management system segment would grow at the fastest CAGR of 15.8% by 2027. This is due to changing digital technology penetration in the rail operations and growing urban rail projects across the globe.
The solutions segment to lead the trial throughout the forecast period-
Based on offering type, the solutions segment held largest market share with more than two-fifths of the global smart railway market revenue in 2019 and is expected to rule the roost during the forecast period. In addition, the segment is also expected to manifest the fastest CAGR of 14.2% throughout 2027. Technology penetration in railway transit solutions and rising demand for passenger and freight capacity & changing passenger payment habits drive the growth of the segment.
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ https://www.alliedmarketresearch.com/purchase-enquiry/412
Europe, followed by North America region, to rule the roost by 2027-
Based on geography, Europe, followed by North America dominated the market with major share in 2019, holding nearly one-third of the global smart railway market. Moreover, the Asia-Pacific region is anticipated to register the fastest CAGR of 14.2% during 2020 to 2027. This is owing to the availability of the cost effective technology development solutions and growing rate of urban transit projects in the region.
The key players profiled-
Cisco Systems, Inc.
Huawei Technologies Co., Ltd.
IBM
Indra Sistemas, S.A.
Hitachi, Ltd.
Aitek S.P.A.
Alstom
BOMBARDIER INC.
ABB Ltd
Siemens AG
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ซ๐๐ข๐ง/๐๐๐ข๐ฅ๐ฐ๐๐ฒ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
Autonomous Train Technology Market- https://www.alliedmarketresearch.com/autonomous-train-technology-market
Hydrogen Fuel Cell Train Market- https://www.alliedmarketresearch.com/hydrogen-fuel-cell-train-market-A07806
Light Rail Market- https://www.alliedmarketresearch.com/light-rail-market-A08503
High-Speed Rail Market- https://www.alliedmarketresearch.com/high-speed-rail-market-A08779
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