Press release
Internet of Trains Market : Latest Trends and Future Outlook by 2025
Internet of Trains denote connected railway systems by utilizing sensors. Railway industry is expected to rely upon smart transportation systems that control technologies over railway infrastructure to reduce life-cycle cost in the near future. Internet of Trains helps in improving the railway operations by connecting railway assets. Data generated by Internet of trains using sensors deployed on trains, helps in gaining valuable insights and make intelligent decisions.
Internet of Trains will provide real time monitoring and location of the vehicle, as well as remote diagnostics, root cause analysis and smart prediction to support maintenance. Internet of Trains also provides services such as asset management, predictive maintenance, and integrated security. With the help of these services Railway operators will be able to strategize the issues such as safety, scheduling, and system capacity. Internet of Trains represents not only a combination of interconnected technological solutions and components, but also modern transportation infrastructure like automatic ticketing systems, digital displays, and smart meters.
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Internet of Trains Market: Drivers and Challenges
Internet of Trains require seamless high data rate wireless connectivity and integrated software solutions to optimize the usage of assets, from tracks to trains, to meet the ever-growing demand for energy-efficient and safer services. Development of Global System for Mobile Communications-Railways (GSM-R), is considered as the prominent factor supporting the connectivity need of these devices. Growth of the Internet of Trains market is directly related to the factors contributing to the growth of the railway industry, including need for smart mobility solutions, rising importance of sustainability, government regulations, growing traffic of passengers and freight, aging population, and rapid urbanization, and the growing importance of smart cities. These factors are considered as the driving factors of the Internet of Trains market.
High cost of initial deployment is considered as one the major challenges faced by the Internet of Trains market. Operational challenges include lack of experience in operating the systems, poor infrastructure facilities, and integrating with the legacy systems. Issues related to connectivity and security are hindering the growth of the market.
Internet of Trains Market: Regional Outlook
On the basis of regions, Internet of Trains Market can be segmented across North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America and Western Europe Internet of Trains Market is predominantly mature as compared to the other regional market as they are fast in the adoption of technology. Internet of Trains Market in Asia Pacific excluding Japan and Japan are expected to possess maximum potential in the forecast period. Internet of Trains Market in Latin America and Middle East and Africa are also projected to witness positive growth during the forecast period.
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Internet of Trains Market: Competition Landscape
Key vendors in Internet of Trains Market include Robert Bosch GmbH, Quester Tangent Corporation, Siemens AG, SAP SE, Teradata Operations, Inc., Kapsch CarrierCom AG, Intel Corporation, Kontron S&T AG, Cisco Systems, Inc., AAEON Technology Inc.
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