Press release
Innovations in Wayside Control Market 2024: Trends, Analysis, Forecast, and Top Major Key Players
The wayside control market size is expected to see strong growth in the next few years. It will grow to $1.8 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to high-speed rail development, implementation of positive train control (ptc), focus on energy efficiency, global connectivity and interoperability, population growth and urban mobility. Major trends in the forecast period include investments in rail infrastructure, digitalization and iot integration, integration of communication technologies, technological advancements in railways, integration of advanced sensor technologies.
Market Overview -
Wayside control refers to a set of control systems and devices located alongside tracks or transportation routes, typically in railway and transit systems. It integrates train operations with back-office management in the mining and rail sectors. Wayside control regulates many elements of the railway infrastructure, such as signals, switches, and detectors, to ensure trains' safe and effective running.
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Expanding Railway Networks Fueling Growth In The Wayside Control Market
The increasing railway network is expected to propel the growth of the wayside control market going forward. A railway network is a collection of interconnected railroad lines that move passengers and freight within a nation or region. Wayside control systems are used to regulate numerous elements of the railway infrastructure, such as signals, switches, and detectors, to maintain trains' safe and effective running. For instance, in April 2023, according to a press information bureau published by the Ministry of Indian Railways, 5243 km of the new line (new line/ doubling/ gauge conversion) were completed in 2022-2023 as opposed to 2909 km in 2021-2022. Therefore, the increasing railway network is driving the growth of the wayside control market.
Competitive Landscape -
Major companies operating in the wayside control market report are Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Nokia Corporation, Thales Group, Alstom SA, Cubic Corporation, Wabtec Corporation, Rockwell Automation Inc., Indra Sistemas S.A., Construcciones y Auxiliar de Ferrocarriles S.A., Phoenix Contact, Advantech Co. Ltd., Belden Inc., Schaltbau Holding AG, Kyosan Electric Mfg. Co. Ltd., Autech Technology Co. Ltd, Frauscher Sensor Technology, Aversan Inc., LILEE Systems Ltd., EKE-Electronics Ltd., Sphinx Connect
Revolutionizing Rail Safety With Advancements In Visual Train Analysis Systems
Companies operating in the wayside control market are increasing their focus on introducing innovative visual train analysis (VTA) systems to maximize their revenues in the market. Visual train analysis refers to a system or technology designed to analyze visual data related to trains. For instance, in August 2022, Voestalpine Railway Systems GmbH, an Austria-based railroad equipment manufacturing company, launched the Phoenix MDS Visual Train Analysis (VTA) system, a video-based train inspection system. It is designed to use the company's Phoenix MDS Modular Diagnostic System (MDS). This system uses cameras and artificial intelligence to detect and analyze defects on passing trains. The VTA system captures images of passing trains and uses AI algorithms to spot flaws, such as cracks, dents, and missing parts and evaluate the state of the train's brakes and wheels.
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Key Segments -
The wayside control market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Control System Type: Centralized Control Systems, Distributed Control Systems
3) By Application: Automatic Train Control (ATC), Centralized Traffic Control (CTC)
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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