Global Digital Railway Market, By Solution (Remote Monitoring, Route Optimization and Scheduling, Analytics, Networking Management, Predictive Maintenance, Security and Others), Service (Professional Services and Management Services), Application Type (Rail Operations Management, Signaling Solution, Rail Traffic Management, Freight Management, Passenger Experience, Asset Management and Others) – Industry Trends and Forecast to 2029.
Digital Railway Market Analysis and Size
Trains convey millions of goods and passengers annually, and rail organizations depend on efficient and reliable rail infrastructure and asset operations to meet the growing rail operations demand. Information and Communication Technology has contributed significantly to offering asset and operations management solutions for all the rail companies. To construct a smarter and digital railway infrastructure, railway experts require efficient and advanced digital railway solutions expected to promote industry growth in the upcoming year. The ‘remote monitoring “ is the fastest growing solution segment because these systems can monitor rail system health, temperature, rail tension and engine health. The market is anticipated to be increased by rapid industrialization, growing population, and the rising need for transporting heavy goods across distant locations due to all these factors, digital railway transportation has gained huge traction over all the globe.
Data Bridge Market Research analyses that the digital railway market was valued at USD 61.01 billion in 2021 and is expected to reach the value of USD 118.04 billion by 2029, at a CAGR of 8.60% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Digital Railway Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Solution (Remote Monitoring, Route Optimization and Scheduling, Analytics, Networking Management, Predictive Maintenance, Security and Others), Service (Professional Services and Management Services), Application Type (Rail Operations Management, Signaling Solution, Rail Traffic Management, Freight Management, Passenger Experience, Asset Management and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Siemens (Germany), Cisco (U.S.), Hitachi (Japan), Wabtec (U.S.), Alstom (France), IBM (U.S.), ABB (Switzerland), Huawei (China), Thales (France), Fujitsu (Japan), DXC Technology Company (U.S.), Indra (Spain), Nokia (Finland), Atkins (U.K.), Toshiba Corporation (Japan), Bombardier (Canada), ZEDAS GmBH (Germany), r2p GmBH (Germany), Simpleway Europe a.s. (Czechia), Tego FIT. (U.S.), Assetic (Australia), OXplus (Netherlands), Passio Technologies (U.S.), Delphi Sonic. (U.S.), Uptake Technologies Inc. (U.S.), KONUX GmBH (Germany), Machines With Vision (U.K.)
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Market Opportunities
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Market Definition
The digital railway transformation is about offering a more responsive, dynamic, and fit-for-purpose railway for the rail users in the digital age. Railways are often deliberated as one of the major part in the growth of any country. With a reliable and strong railway network, tourism flourish and travel, trade, and bring sufficient economic stability and growth. With the technological advancements, it has become an enormous priority for governments over all globe to upgrade and transform their existing railway networks.
Global Digital Railway Market Dynamics
Drivers
- Increase the number of passenger
The rise in the number of passenger increase the demand for effective transport options due to this compelling countries are focused to develop the infrastructure for digital railway. Digital railway is normally perfect for long-distance transportation. Growing investments by the governments to increase the infrastructure of digital railway is expected to boost the demand of the digital railway and drive the market growth rate.
- High demand of passenger information systems
Passenger information systems is a major communication link between passengers and transportation operators. Along with this system reliability, general appearance and safety, it can deliver current and precise information on arrival and departure times, which is a major component of the passenger satisfaction. Passenger information system consists of route information and scheduling, real-time train tracking, travel planning, online connectivity solutions and passenger infotainment which are expected to drive the market's growth rate.
- Demand for minimize the accident and damages
There has been a significant increase in the rail accidents globally. To eradicate the threat of accidents and reduce this damage, the operators are concentrating in the advancement, maintenance and improvement of railway. This is expected to create growth prospects for the digital railway market.
Furthermore, the changing demand from people due to the requirement for intelligent solutions, more accessible travel solutions. For instance, advanced control systems and asset management, offer information related to the real-time conditions, which may be used to identify the condition of engines and monitor schedule adherence, wagons, and railway infrastructure. Also, proactive scheduling aids in increasing efficiency and reducing downtime. These are some major factor which are expected to boost the growth of the targeted market
Opportunity
- Rising demand for advanced transportation infrastructure
The increasing globalization has directly impacted on the types of railway transportation. There is a rising demand for increased speed, reliability and security has also create immense opportunities for the growth of the market. Hence, the upcoming railway transportation ecosystem must offer solutions that satisfy the demand, from source to destination, with a great level of service, regardless of the number of steps and the distance expected to reach the destination.
The increasing surreal advancement in communication technologies will also generate lucrative growth opportunities for the digital railway market during the forecast period of 2022-2029.
Restraints
- High cost of advanced technology
The railway transport faces many difficulties in maintaining and improving the balance between cost-cutting measures for reducing costs and technological advancement. Advanced technology mainly used for digital railway is more costly than others. So, the high cost associated with digital railway are expected to restrict the market's growth.
Less availability of trained experts will also act as a restraint, and further challenge the growth of digital railway market during the forecast period.
This digital railway market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the digital railway market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Digital Railway Market
The outbreak of COVID-19 has badly impacted the railway sector, With a significant drop in travel, the COVID-19 pandemic has greatly impacted the digital railway which is due to the social distancing legislation and boundary closures. There has been a change in mobility behaviour, growing use of private cars, as compared to the public transport. As rising number of people are working from home these are the major factor which has decrease the use of railway transport. In 2020, a decline of 35% is estimated in regional, long-distance, and urban rail passengers triggered by partial and complete lockdown imposed overall the globe.
Recent developments
- In January 2019, Taiwan Hitachi Asia Pacific Co. Ltd., a subsidiary of Hitachi Ltd, declared that the company has been awarded with an order to deliver approximately 600 of Electric Multiple Unit (EMU) train cars.
- In April 2019, Siemens Mobility has declared that the company has installed an intelligent signaling system on three busiest railway stations.
Global Digital Railway Market Scope
The digital railway market is segmented on the basis of solution, service and application type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Solution
- Remote Monitoring
- Route Optimization and Scheduling
- Analytics
- Networking Management
- Predictive Maintenance
- Security
- Others
Service
- Professional Services
- Management Services
Application Type
- Rail Operations Management
- Signaling Solution
- Rail Traffic Management
- Freight Management
- Passenger Experience
- Asset Management
- Others
Digital Railway Market Regional Analysis/Insights
The digital railway market is analysed and market size insights and trends are provided by country solution, service and application type as referenced above.
The countries covered in the digital railway market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the digital railway market due to higher investments for digital transformation and growth of digital railway market along with increasing adoption of new technology in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Digital Railway Market Share Analysis
The digital railway market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital railway market.
Some of the major players operating in the digital railway market are:
- Siemens (Germany)
- Cisco (U.S.)
- Hitachi (Japan)
- Wabtec (U.S.)
- Alstom (France)
- IBM (U.S.)
- ABB (Switzerland)
- Huawei (China)
- Thales (France)
- Fujitsu (Japan)
- DXC Technology Company (U.S.)
- Indra (Spain)
- Nokia (Finland)
- Atkins (U.K.)
- Toshiba Corporation (Japan)
- Bombardier (Canada)
- ZEDAS GmBH (Germany)
- r2p GmBH (Germany)
- Simpleway Europe a.s. (Czechia)
- Tego FIT. (U.S.)
- Assetic (Australia)
- OXplus (Netherlands)
- Passio Technologies (U.S.)
- Delphi Sonic. (U.S.)
- Uptake Technologies Inc. (U.S.)
- KONUX GmBH (Germany)
- Machines With Vision (U.K.)
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