Global Smart Railways Market By Type (Station, Onboard), Solution (Passenger Information System, Freight Information System, Advanced Security Monitoring System, Rail Communication and Networking System, Smart Ticketing System, Rail Analytics System), Component (Video Surveillance Cameras, networking and Connectivity Devices, Multimedia Infotainment Displays), Service (Professional Services, Managed Services), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Smart Railways Market
Global smart railways market is set to witness a healthy CAGR of 15.05% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to the pace of urbanization and growth in population and thrust on building smart cities by governments in various nations is proving beneficial to the market growth.
Market Definition: Global Smart Railways Market
Smart railways market offers new generation solutions and services for rail transportation and operations. It is expanding due to emergence of smart cities and urbanization on a global scale. With the advent of technology such as IoT, the market is growing. It enables unique feature such as smart ticketing, freight information, e-catering as well as advance security monitoring. It will enhance the passenger experience as well as operational efficiency of the operator.
- High demographic growth and hyper-urbanization is driving the growth of the market
- Technological advancements targeted towards passenger convenience is contributing to the growth of the market
- Government initiatives and partnership models is propelling the growth of the market
- Emergence of Internet of Things technology is boosting the growth of the market
- Emerging trend of smart cities is driving the growth of the market
- Growing demand for cloud based services is contributing to the growth of the market
- The operational inefficiency is hindering the growth of the market
- The lack of ICT infrastructure and interoperability is hampering the growth of the market
- The high initial cost of deployment is restricting the growth of the market
Segmentation: Global Smart Railways Market
- Passenger Information System
- Multimedia Information and Entertainment Solutions
- Network Connectivity Solutions
- Freight Information System
- Freight Operation Management Solution
- Freight Tracking Solutions
- Advance Security Monitoring System
- Video Analytics
- Integrated Security Systems
- Rail Communication and Networking System
- Ground-To-Train Communications Solutions
- Train-To-Train Communications Solutions
- Smart Ticketing System
- Rail Analytics System
- Video Surveillance Cameras
- Network and Connectivity Devices
- Multimedia Infotainment Displays
- Professional Services
- Consulting Services
- System Integration and Deployment
- Support and Maintenance
- Managed Services
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In September 2018, Cisco Systems Inc., formed an alliance with ScotRail, Network Rail Telecom and Wittos to provide hi speed internet Wi-Fi connectivity to the passengers on train which will encourage passengers to often use this mode of transportation which will increase the revenue and profit margins of both the companies.
- In September 2018, Thales Group launched it new train control system, SELTRACTM G7. It will reduce operational and maintenance cost and will ensure the optimal safety of the passengers and is cyber secured by design and is compatible. This launch will enable the operators to adopt new technology without any disruption in the service.
Global smart railways market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart railways market for Global, Europe, North America, Asia Pacific, South America and Middle East and Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global smart railways market are Nokia, Siemens, INDRA SISTEMAS, S.A., IBM Corporation, 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, Capgemini, TOSHIBA CORPORATION, Cyient, Telangana State Technology Services, ZTE Corporation, CGI Inc. among others.
Research Methodology: Global Smart Railways Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved