Press release
The IoT in Motion: Understanding the Infrastructure of Smart Railways
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ-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.
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:
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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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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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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