Global Smart Railways Market, By Type (Station, Onboard), Offering (Solutions, Services), Component (Video Surveillance Cameras, Networking and Connectivity Devices, Multimedia Infotainment Displays), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The smart railways market is expected to witness market growth at a rate of 13.20% in the forecast period of 2021 to 2028 and is expected to reach USD 55,156.72 million by 2028. Data Bridge Market Research report on smart railways market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in government initiatives for smart cities is escalating the growth of smart railways market.
Smart railways refer to railways built by the deployment of GSM-R systems, cloud computing and data analytics. To grasp the condition information distributed over wide railway area, the IoT solution is applied for the smart railway application. Smart railways comprise of smart ticketing, e- catering and freight information systems among others. They assist in efficient transport and provide reduction in costs eventually by automating various processes and leveraging technology to improve services.
The increase in the investment for developing analytics systems by rail network operators in developed regions and technological advancement targeted towards enhancement of customer experience act as the major factors driving the growth of smart railways market. The growth in the prominence of cloud-based systems, increasing need for tools that help in maximization of intervals between certain maintenance events such as turning wheels or replacing the wheel-and-axle sets on the trains with the purpose of reducing maintenance costs accelerate the smart railways market growth. The increase in need for analytics-based solutions to work in close coordination with security and surveillance systems to leverage video analytics and the use of the rail analytic systems for applications such as time-table management, capacity optimization, timely travel service and predictive maintenance further influence the smart railways market. Additionally, adoption of IoT as along with automation technologies to enhance optimization, government initiatives for smart cities and PPP working models and rapid urbanization positively affects the smart railways market. Furthermore, development of new fuel technologies for more sustainable solution and the usage of hydrogen, wind-turbines or solar panels extend profitable opportunities to the smart railways market players in the forecast period of 2021 to 2028.
On the other hand, high initial cost associated with the deployment and lack of technology infrastructure and interoperability are the factors expected to obstruct the smart railways market growth. Integration complexities of legacy systems and networks are projected to challenge the smart railways market.
This smart railways 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 smart railways market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Railways Market Scope and Market Size
The smart railways market is segmented on the basis of type, offering and component. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the smart railways market is segmented into station and onboard.
- On the basis of offering, the smart railways market is segmented into solutions and services. Solutions are further segmented into passenger information system, freight management system, security and safety solutions, rail communication and networking system, smart ticketing system, rail analytics system, rail asset management and maintenance solutions, rail operation and control solutions. Passenger information system is further sub-segmented into multimedia information and entertainment and network connectivity. Freight management system is further sub-segmented into freight operation management and freight tracking. Security and safety solutions are further sub-segmented into video surveillance and analytics, intrusion detection, access control, fire alarm and voice evacuation and others. Rail communication and networking system is further sub-segmented into ground-to-train communication and train-to-train communication. Rail asset management and maintenance solutions are further sub-segmented into asset planning and scheduling, workforce management and optimization, condition-based monitoring, predictive maintenance and others. Services are further segmented into professional services and managed services. Professional services are further sub-segmented into consulting, system integration and deployment and support and maintenance.
- On the basis of component, the smart railways market is segmented into video surveillance cameras, networking and connectivity devices and multimedia infotainment displays.
Global Smart Railways Market Country Level Analysis
The smart railways market is analyzed and market size, volume information is provided by country, type, offering and component as referenced above.
The countries covered in the global smart railways market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, 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).
North America and Western Europe dominate the smart railways market because of the presence of high-end train manufacturers, adoption of IoT technology, investments in smart railways and research and innovation program for smart railways, government initiatives and fast economic growth. The increase in research and development investments for the development of autonomous trains, rising consumer preference and government spending to implement high-performance trains and increasing smart city projects including smart railways and smart hospitals.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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 Smart Railways Market Share Analysis
The smart railways 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, 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 smart railways market.
The major players covered in the smart railways market report are GENERAL ELECTRIC, Cisco Systems Inc., ABB, Huawei Technologies Co. Ltd., Hitachi Rail STS Ltd., Bombardier, Alstom, ALE International, ALE USA Inc., DXC Technology Company, EKE-Electronics Ltd., Moxa Inc., Advantech Co. Ltd., OEM Technology Solutions, Televic, Thales Group, Tata Consultancy Services Limited, Nokia, Siemens, INDRA SISTEMAS, S.A., IBM Corporation, Capgemini, TOSHIBA CORPORATION, Cyient, Telangana State Technology Services, ZTE Corporation, CGI Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.