Press release
Train Control Management System Market to Hit $5.09 Billion Globally by 2027, Riding Strong at 8.7% CAGR
Train Control Management System Market
According to the report, the global train control management system industry was estimated at $3.13 billion in 2019, and is anticipated to hit $5.09 billion by 2027, registering a CAGR of 8.7% from 2020 to 2027.
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Vehicle control unit is one of the important subsystems of the propulsion system in train, as it is responsible for controlling the complete safety and characteristics of the locomotive. In addition, vehicle control unit can be used for physical controls such as opening & closing of doors and diagnostics control such as monitoring of brake temperature, and checking proper closing of doors. Vehicle control units are used for various applications such as crew human-machine interface (HMIs) management, SIL & safety applications, fleet management, lighting management, battery charge monitoring, and other crucial applications, which propel the growth of vehicle control unit segment.
Leading train operating companies and equipment & systems manufacturers are signing contract for installation of advanced system in the vehicle control units systems. For instance, on June 2020, Virgin Trains USA, a train operating company, signed contract with Wabtec, an equipment and system company, for the implementation of train control and signaling systems on the rail corridors between Miami and West Palm Beach and from Palm Beach to Orlando. In addition, supportive government initiatives for the development of vehicle control unit sector in Mexico are driving the adoption of vehicle control units, thereby propelling the growth of market. For instance, the 90bn-peso (US$4bn) Mexico City-Toluca line, on which the government started working in 2014, will go from Observatorio metro station and run to Toluca, by crossing the Santa Fe business district.
Key players in the industry-
Mitsubishi Electric Corporation
Knorr-Bremse
Alstom
Thales Group
EKE Group
Bombardier
Hitachi, Ltd.
Siemens
Toshiba Corporation
ABB
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A mobile communication gateway can be defined as the network node used in telecommunication that connects two networks with different transmission protocols together. In addition, gateway serves as the entry and exit point for a network as all the data must pass through gateway prior to being routed. The adoption of mobile communication gateway provides simplified internet connectivity into one device and offers advantages such as enhanced communication quality, improved communication, and easy implementation communication device, which boost the market for mobile communication gateway segment
Factors such as increase in allocation of budget for development of railways and surge in demand for secure, safer, and efficient transport system are driving the growth of train control management system market. However, high capital requirement is hindering the growth of market. Furthermore, improvement in railway infrastructure in developing countries is anticipated to provide remarkable growth opportunities for the players operating in the train control management system market.
Europe, followed by Asia-Pacific and North America, to rule the roost-
Based on region, Europe, followed by Asia-Pacific and North America, held the major share in 2019, generating around one-third of the global train control management system market, attributed to increase in use of public transport and demand for safe, secure, and efficient transportation. Simultaneously, the market across LAMEA would manifest the fastest CAGR of 11.3% by 2027. Focus of companies operating in the railway sector on development of semi-autonomous and fully autonomous railways is propelling the growth of the market in LAMEA.
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COVID-19 Scenario on Train Control Management System Market-
Lockdown announced during the initial phase of covid-19 has impacted the overall production and sales of the train control management system.
In addition, public transports and mobility were completely shut down owing to the regulations issued by government bodies to curb the spread of coronavirus. This has majorly impacted the industry, globally.
Nevertheless, the government bodies have now lifted the restriction partially, thereby allowing a certain categories of passengers with limitations. In addition, various regions are now recovering, which would aid the industry in a positive way.
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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.
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