Press release
Railways Management System Market to Grow at a CAGR of 10.4% through 2022
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According to Future Market Insights, the global market for railways management systems is anticipated to expand vigorously in the upcoming years. By the end of 2022, the global railways management system market is poised to be worth nearly US$ 5 billion. The report offers an exclusive study on the global railways management system market, revealing key presumptive scenarios for market expansion. Over the forecast period, 2017-2022, the global market for railways management systems is expected to register a value CAGR of 10.4%.
North America to register higher adoption of railways management systems
The report has anticipated that North America will dominate the global railways management system market in terms of revenues. With a robust rail infrastructure in this region, a majority of freight and logistics operations in the US and Canada are carried out through railways. To keep up with the volatility of consumer marketplaces in North America, railway administration in this region is actively adopting railways management systems that boost the efficiency in arrival and departures of rolling stocks. By the end of 2022, the railways management system market in North America is pegged to be worth over US$ 1.7 billion.
The adoption of railways management systems in Asia-Pacific excluding Japan (APEJ) is also expected to gain considerable traction. Considering how efficient railway transportation has served as a mainstay for economic development in several APEJ countries, the railways management system market in this region is expected to expand at a robust CAGR during the forecast period. Europe’s railways management system market is also expected to showcase impressive growth in few years down the line.
Cloud deployment of railways management systems to record a CAGR of 13.2%
With respect to adoption of railways management systems, traffic planning solutions and track management systems are anticipated to gain considerable traction. In 2017, revenues procured from adoption of these two solutions is estimated to account for over 40 percent of the overall value of global railways management system market. While majority of railways management systems are being deployed with on-premise models, the report estimates a promising growth in demand for cloud deployment. Through cloud deployment, around US$ 2 billion worth of railways management systems are anticipated to be adopted globally by the end of 2022. With cloud deployment, adoption of fully-integrated railways management systems will become less challenging. Cloud deployments models are also expected to facilitate integration of third-party subsystems.
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For development of railways management systems, many companies are expected to focus on providing intelligent conflict detection modules. Several companies are also expected to develop distinct subsystems on railways management, which could be used to improve the performance of existing systems. The report has also profiled key developers of railways management systems in the global market. Companies namely, GAO RFID, Hitachi, Ltd., Amadeus IT Group, S.A, Cisco Systems, Inc., ABB Limited, IBM Corporation, Thales S.A., Toshiba Corporation, General Electric Co., and Huawei Technologies Co., Ltd. are expected to remain active in global expansion of railways management system market over the span of next five years.
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