Connected Rail Solutions Market by Safety and Signaling System and Geography - Forecast and Analysis 2020-2024
- Published: Dec 2019
- Pages: 172
- SKU: IRTNTR40253
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The global connected rail solutions market size has the potential to grow by USD 34.72 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and safety and signaling system (CBTC, PTC, and ATC). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., ALSTOM Holdings, Bombardier Inc., Cisco Systems Inc., General Electric Co., Hitachi Ltd., International Business Machines Corp., Robert Bosch GmbH, Schneider Electric SE, and Siemens AG.
What will be the Connected Rail Solutions Market Size in 2020?
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Who are the Major Connected Rail Solution Vendors?
The market is moderately fragmented, and the degree of fragmentation will increase during the forecast period. The key players in the market are focusing on various growth strategies, including mergers and acquisitions, divestitures, joint ventures, and partnerships, to expand geographical reach and gain significant market shares and revenue. Robert Bosch GmbH, Schneider Electric SE, and Siemens AG. are some of the major market participants. Although the accelerating growth momentum will offer immense business opportunities, data privacy and security concerns will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this connected rail solutions market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this connected rail solutions market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading connected rail solutions companies, including:
- ABB Ltd.
- ALSTOM Holdings
- Bombardier Inc.
- Cisco Systems, Inc.
- General Electric Co.
- Hitachi Ltd.
- International Business Machines Corp.
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
Which are the Key Markets for Connected Rail Solutions?
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The connected rail solutions market in APAC is expected to offer maximum growth opportunities to market vendors during the forecast period. The rising demand for an alternative mode of transportation to overcome high road traffic congestion issues, owing to the growth of the industrial and manufacturing sector, and the growing development of railway infrastructure with advanced technologies under smart city projects are fueling the connected rail solutions market growth.
Almost 36% of the market’s growth will originate from APAC during the forecast period. China, India, and Indonesia are the key markets of connected rail solutions in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
What are the Major Safety and Signaling System Segments in the Connected Rail Solutions Market?
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CBTC is a type of railway safety and signaling system that uses satellite and location-based technologies to track the location of trains. This system also manages the time interval between trains or metros traveling on the same line, which helps in increasing the safety of trains and passengers. It also facilitates smart transportation facilities, smart maintenance (automatic warning system), automated fare collection systems, smart connected surveillance (to improve security), and smart navigation. Moreover, the growing need for safe transportation due to government regulations, along with the increasing traffic congestion, has increased the adoption of CBTC safety and signaling systems among railway industry participants.
Moreover, market growth by the CBTC segment will be faster than the growth of the market by the PTC segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the connected rail solutions market size.
How will Railway Infrastructure Influence Connected Rail Solutions Market Growth?
The increasing conveyance of passengers, cargo, oil, and other refined products and the expansion of seaports are significantly driving railway expansion projects. The development of inland ports is providing vast opportunities to rail freight service providers to avoid long and expansive transport to port cities. For instance, East Coast ports gained Asia import market and are trying to expand their rail infrastructure to increase their intermodal reach into various markets. Such expansion of seaports and increasing foreign trade are augmenting the need for railway networks for fast and economical transfer of goods from ports to destinations. Moreover, the relaxation of rail tariffs and customs procedures have encouraged significant logistics service providers to increase transportation between Europe and China through rail. These factors will drive connected rail solutions market growth over the forecast period.
- Connected rail solutions such as ATC allow railway companies to generate a considerable amount of data regarding drive patterns, route patterns, and weather conditions.
- Merging of train route data from connected rail solution devices with big data analytics has given rise to a new way of refining large volumes of cluttered data into meaningful data.
- Major rail freight logistics companies and passenger rail operators are deploying autonomous trains, which include testing in multiple real-life scenarios to ensure the integrity and safety of trains and passengers.
- Three-dimensional (3D) visualization provides information about routes and end-to-end operational entity connectivity and throughput, which help consumers modify the transport route as well as the stock configuration until the performance is optimized.
- The use of analytics in autonomous trains is one of the key connected rail solutions market trends as it helps transport companies in analyzing places with the highest number of trips with similar origins and destinations.
- During 2020-2024, the market will grow at a CAGR of over 6%.
What are the Key Factors Covered in this Connected Rail Solutions Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the connected rail solutions market growth during the next five years
- Precise estimation of the global connected rail solutions market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the connected rail solutions industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of connected rail solutions vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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