Press release
Train Control And Management Systems Market Drivers 2024-2033: Demand, Insights, and Overview
Train Control And Management Systems Market
The train control and management systems market size is expected to see strong growth in the next few years. It will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to autonomous train operations, cybersecurity measures, sustainable and green transportation, railway expansion in emerging markets, interoperability standards, urban mobility solutions. Major trends in the forecast period include integration of internet of things (iot) technology, emphasis on cybersecurity measures, shift towards autonomous train operations, adoption of cloud-based solutions, interoperability standards and open architecture.
Market Overview -
Train control and management system (TCMS) refer to a type of monitoring and control system that intelligently combine data from many systems. It consists of computer equipment and software, human-machine interfaces, digital and analogue input/output (I/O) capability, and data networks that connect all of these components in a safe and fault-tolerant manner.
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Train Control And Management System Market To Grow With The Expansion Of The Global Railway Sector
The growth in the railway sector around the globe is expected to propel the growth of the train control and management system market going forward. The railway sector refers to a sector that involves rail transportation and related sectors such as railroads, comprising tracks, tunnels, bridges, elevated rail, and magnetic levitation. Train control and management systems assist railways by performing tasks including real-time vehicle detection, inspection, and tracing of rail. For instance, in November 2021, according to the Office of Rail and Road, a UK-based non-ministerial government department responsible for the economic and safety regulation of Britain's railways, the rail industry generated $21.86 billion in revenue overall in 2020-21, an increase of 2.4% from 2019-20. Therefore, the growth in the railway sector across the globe drives the train control and management system market.
Competitive Landscape -
Major companies operating in the train control and management systems market report are Alstom, Bombardier Inc., Siemens AG, Hitachi Ltd., Mitsubishi Electric Corporation, Strukton Rail, Wabtec Corporation, Toshiba Corporation, Thales Group, CAF Group, Selectron Systems AG, ABB Ltd., Knorr-Bremse AG, Indra Sistemas S.A., DXC Technology, Trimble Inc., Frequentis, Comau, Denso Wave Incorporated, Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kuka AG, Nachi-Fujikoshi, Advantech, Ansaldo STS, Beijing Traffic Control Technology Co. Ltd., CRRC Corporation Limited, EKE-Electronics Ltd., General Electric, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Huawei Technologies Co. Ltd., Hyundai Rotem Company .
Innovative Frmcs Solution Enhances Efficiency And Fault Prediction Accuracy In Railway Operations
Technological advancements are a key trend gaining popularity in the train control and management system market. Companies operating in the train control and management system market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Huawei Technologies Co., Ltd., a China-based multinational technology corporation that operates in train control and management systems, launched the Future Railway Mobile Communication System (FRMCS) solution. This solution makes use of the 8T8R Smart MIMO innovative technology that supports new services such as locomotive status monitoring, train operation monitoring, and the visual dispatch of organization and management(O&M) personnel, thereby increasing fault prediction accuracy and efficiency.
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Key Segments -
The train control and management systems market covered in this report is segmented -
1) By Component: Vehicle Control Unit, Mobile Communication Gateway, Human Machine Interface
2) By Service: Consulting, System Integration And Deployment, Support And Maintenance
3) By Control Solution: Positive Train Control, Integrated Train Control
4) By Application: Metros, High-Speed Trains, Normal Trains
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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