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Wayside Control Market Size, Analysis And Industry Forecast 2024-2033
Wayside Control Market Size
As per the report, the wayside control market size has grown strongly in recent years. It will grow from $1.19 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. 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%.
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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.
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.
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)
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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
Contents of the report:
1. Executive Summary
2. Wayside Control Market Report Structure
3. Wayside Control Market Trends And Strategies
4. Wayside Control Market - Macro Economic Scenario
5. Wayside Control Market Size And Growth
…..
27. Wayside Control Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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