Smart Railway Systems Market by Product and Geography - Forecast and Analysis 2020-2024
- Published: Dec 2019
- Pages: 171
- SKU: IRTNTR40254
The 2021-2025 version of this report is just being published. Buy it now and get up to $1000 worth of free customization!
The global smart railway systems market size has the potential to grow by USD 15.03 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 product (solutions, components, and services). 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., Nokia Corp., Robert Bosch GmbH, and Siemens AG.
Browse TOC and LoE with selected illustrations and example pages of smart railway systems market
Market Competitive Analysis
The market is moderately fragmented, and the degree of fragmentation will remain the same 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 major market shares and revenue. Nokia Corp., Robert Bosch GmbH, and Siemens AG. are some of the major market participants. Although the accelerating growth momentum will offer immense business opportunities, investments in initial infrastructure and related requirements 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 positions, this smart railway systems 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 smart railway systems 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 smart railway systems companies, including:
- ABB Ltd.
- Alstom Holdings
- Bombardier Inc.
- Cisco Systems, Inc.
- General Electric Co.
- Hitachi Ltd.
- International Business Machines Corp.
- Nokia Corp.
- Robert Bosch GmbH
- Siemens AG
Smart Railway Systems Market: Segmentation by Region
For more insights on the smart railway systems market share of various regions Request for a FREE sample now!
APAC will continue to offer maximum growth opportunities to market vendors during the forecast period. The emergence of megacities and the rising investments in the development of the railway network will significantly influence the smart railway systems market growth in the region. Large institutional vendors are willing to invest in the railway network infrastructure in APAC.
Almost 28% of the market’s growth will originate from APAC during the forecast period. China, India, and Turkey are the key markets of smart railway systems in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Smart Railway Systems Market: Segmentation by Product
Request for a FREE sample and Get more information on the market contribution of various products
The solutions segment of the market in focus includes solutions such as passenger information systems, advanced security monitoring systems, freight information systems, and smart ticketing systems. These systems have specific applications and are integrated to help operators make intelligent use of all rail assets, ranging from tracks to trains, to meet increasing consumer demand for efficient and safe transportation services.
However, market growth by the solutions segment will be slower than the growth of the market by the services segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the smart railway systems market size.
Smart Railway Systems Market: Key Drivers and Trends
Advanced technologies such as automation, artificial intelligence (AI), and machine learning have the potential to revolutionize the railway industry. The implementation of advanced technologies will lead to operational efficiency, cost benefits, higher customer value, and faster and better services in the railway sector. Integrated security, predictive maintenance, and asset management are a few of the new areas of technology deployment. This will result in standardization, transparency, and scalability in the information. The operators can use the data to get better insights and enhance decision-making. Moreover, the use of IoT can increase the safety and efficiency of rail traffic. Therefore, the benefits of advanced technologies will significantly influence smart railway systems market growth over the forecast period.
- The change in the global climate has led to a greater consensus to find alternatives and reduce emissions.
- The adoption of greener forms of transport is also backed by new regulations and environmental groups.
- Alternatives such as hydrogen fuel cells in trains, battery-powered locomotives, and liquified natural gas will reduce emissions to zero and introduce an energy-efficient and cost-effective alternative to diesel trains.
- The deployment of fuel cell and battery technology in rail transportation, which is one of the critical smart railway systems market trends, will usher in a new age for non-electrified routes.
- The industry is adopting autonomous vehicle technology, which has made rail transportation faster, cleaner, and more efficient.
- During 2020-2024, the market will grow at a CAGR of almost 14%.
Smart Railway Systems Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the smart railway systems market growth during the next five years
- Precise estimation of the global smart railway systems market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the smart railway systems 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 smart railway systems vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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
Get your FREE sample now!
Get the report (PDF) sent to your email within minutes.
Subscribe & Save
Get lifetime access to our
Did you know?
Did you know?
Did you know?
Want to customize this report?
This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.
Technavio's SUBSCRIPTION platform
Register for a free trial today and gain instant access to 17,000+ market research reports.