Outlook of the global smart railways systems market
The market research analyst at Technavio has estimated the global smart railways systems market to grow profoundly at a CAGR of above 27% by 2020. One of the primary drivers for this market is the changing travel demands of the people. Railway is considered to be the second-fastest mode of transportation (next to airways) and due to the recent increase in commuter traffic, there has been a consistent increase in the demand for rail services from the public. Since more people prefer to travel by train than by road or sea, many countries have started funneling their funds to standardize their railway's services. This increase in government investments and the subsequent demand for better and more advanced services from the public are some of the factors that will aid in the growth of this market during the forecast period.
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The increased adoption of analytics and big data is considered to be one of the major trends that will drive market growth in the next four years. To gain a better knowledge of their passenger’s requirements, several railway services have started using cloud computing and big data analytics. With the help of the cloud-based system, railways can provide passengers with detailed information on seat availability, busiest routes, and train status. As real-time data capturing benefits railways by offering features like the current status of a train, seat availability, and freight management, the demand for big data and analytics among the end users will increase substantially by the end of the forecast period.
Geographical segmentation and analysis of the smart railways systems market
- APAC
- Europe
- North America
- ROW
Europe dominated the smart railways systems market by accounting for about 32% of the total market share during 2015. According to this market study report, Europe will continue to dominate the industry during the forecast period as it has the best railway traffic management system. Factors such as the introduction of new government policies and the strong economic growth of European countries will contribute to the growth of the market in the next four years.
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Competitive landscape and key vendors
This highly consolidated market is dominated by a few major vendors and since all vendors compete to attain a considerable share of the market, the level of vendor competition is moderate. Factors like rapid advances in technology, growing population, and frequent changes in customer preferences have compelled manufacturers to invest more in their R&D activities to create better devices and provide advanced solutions to their clients.
The leading vendors in the market are -
- Alstom
- Bombardier
- Cisco Systems
- General Electric
- Hitachi
- IBM
The other prominent vendors in the smart railways systems market are Huawei, Indra Sistemas, Siemens, Alcatel-Lucent, Ansaldo STS, ABB, CGI, Computer Sciences, ZTE, DB International GmbH, Kapsch CarrierCom, Larsen & Toubro, MRX, and Rad Data.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global smart railways systems market?
- What are the key market trends impacting the growth of the global smart railways systems market?
- What are the challenges to market growth?
- Who are the key vendors in the global smart railways systems market?
- What are the market opportunities and threats faced by the vendors in the global smart railways systems market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global smart railways systems market?
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