Press Release / Technology / Smart Railways Market Trends, Share, Development Policies and Future Growth 2023

Smart Railways Market Trends, Share, Development Policies and Future Growth 2023

Market Highlights:

A few factors are encouraging the demand for smart railways, such as the increasing demand for cloud-based services, increasing rate of hyper-urbanization, and adoption of the internet of things. Smart railways offer new generation solutions, services, and modern transportation to the passengers with the help of information and communication technology. Advancements in networking, artificial intelligence, and big data analytics have set the pace for the growth of smart railways market. The wireless communication technology plays a crucial role in maintaining transportation operation, in improvising high-speed rail, in safety monitoring, and other applications.

The smart railway services are integrated with the cloud computing technology to improve their application in railway and offer safer transportation to the consumers. The cloud-based applications are offering intelligent and smart solutions to provide reliable and sustainable mass transit. The major industry players are entering into partnerships to ensure better and economical solutions. On Sep 13, 2016, Herzog Technologies, a leader in the railroad signal and communications industry, entered into a partnership with Red Hat to provide cost-effective, open source, and cloud-based positive train control (PTC) technology services. The cloud-based positive train control solutions deliver efficient performance

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Major Key Players

Alstom SA (France),
Cisco Systems, Inc. (U.S.),
ABB Ltd (Switzerland),
International Business Machines Corporation (U.S.),
Hitachi Limited (Japan),
Bombardier, Inc. (Canada),
Huawei Technologies Co. Ltd. (China),
Indra Sistemas S.A. (Spain),
Siemens AG (Germany),
Alcatel-Lucent (France)
According to Market Research Future, global Smart Railways Market is expected to grow at approximately USD 17 Billion by 2024, at a CAGR of approx. 12% between 2016 and 2024

Industry Updates

Sept 2018- Huawei of late has launched two innovative solutions at InnoTrans in Berlin, Germany- Railway Internet of Things and Urban Rail Cloud. These platforms will help in creating intelligent, efficient and more-secure safety monitoring systems and railway disaster prevention to help customers create intelligent railways having comprehensive sensing capabilities.

August 2018- Indian Railways in the coming 6-8 months is planning to introduce 6000 railway stations all over the country that is Wi-Fi enabled with an aim to offer high-speed internet in the remote areas.

Segmentation:

For analysis, the global smart railways market is segmented on the basis of the type, component, solution, services, and region. The market by type is further sub-segmented into station and onboard. The component is sub-segmented into multimedia infotainment displays, video surveillance cameras, and networking & connectivity devices. The solutions are segmented into advanced security monitoring systems, passenger information systems, rail communication & networking systems, freight information systems, rail analytics systems, smart ticketing systems. The services are segmented into system integration & deployment, consulting services, and support & maintenance. The market is covered across regions including North America, Europe, Asia Pacific, and Rest of the World.

The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Regional Analysis

By region, the global smart railways market demand is gaining momentum across various geographical regions including North America, Europe, Asia Pacific, among others. The European region is leading due to increasing adoption of the internet of things which enables improved communications and control pertaining to railway systems. Furthermore, the integration of advanced analytics and machine learning in smart railway systems are propelling the market growth.

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Intended Audiences

Smart railways companies
Smart railways providers
Computer graphics developers
System integrators and third-party vendors
Government bodies
Technology investors
Research institutes and organizations
Market research and consulting firms
End-users/enterprise-users
List of Tables

TABLE 1 LIST OF ASSUMPTIONS

TABLE 2 GLOBAL SMART RAILWAY MARKET, BY TYPE, 2018-2024

TABLE 3 GLOBAL SMART RAILWAY STATIONS MARKET, BY COMPONENT, 2018-2024

TABLE 4 GLOBAL SMART RAILWAY STATIONS MARKET, BY SERVICE, 2018-2024

TABLE 5 GLOBAL SMART RAILWAY STATIONS MARKET, BY SOLUTION, 2018-2024

TABLE 6 GLOBAL SMART RAILWAY ON-BOARD TRAINS MARKET, BY COMPONENT, 2018-2024

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List of Figures

FIGURE 1 GLOBAL SMART RAILWAY MARKET: MARKET STRUCTURE

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 DROC ANALYSIS OF GLOBAL SMART RAILWAY MARKET

FIGURE 4 DRIVERS IMPACT ANALYSIS: SMART RAILWAY MARKET

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