Smart Railways Market by Solution Component, Service (Professional, Managed), and Region – Global Forecast to 2021

Smart Railways Market by Solution (Passenger Information, Freight Information, Rail Communication, Advanced Security Monitoring, Rail Analytics), Component, Service (Professional, Managed), and Region – Global Forecast to 2021″ [161 Pages Report] The smart railways market is estimated to grow from USD 10.50 billion in 2016 to USD 20.58 million by 2021, at a Compound Annual Growth Rate (CAGR) of 14.4% during the period 2016–2021. The base year considered for the study is 2015 and the market size forecast is from 2016 to 2021.

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Market Dynamics

Drivers

  • High demographic growth and urbanization
  • Technological advancement targeted towards passenger convenience
  • Government initiatives and partnership models
  • Emergence of IoT technology
  • Emerging trend of smart cities

Restraints

  • Operational efficiency
  • Lack of ICT infrastructure and interoperability
  • High initial cost of deployment

Opportunities

  • Demand for cloud-based services
  • Growing eCommerce industry

Challenges

  • Difficulties in integration of smart solutions with analytics capabilities
  • Integration complexities over legacy systems and networks

High demographic growth and urbanization

As per the United Nations (UN) statistics experts, the world population is expected to cross the 10 billion mark by 2050. Close to half of that population is expected to be residing in the countries of sub-Saharan Africa, Latin America, and APAC where population growth would be more than threefold. In these nations, railways is a well-suited means of mass transportation of passengers and freight. The combination of economic and on-going population growth will motivate more than half of the world’s population to live in cities and towns. This is likely to increase the level of urbanization by 2050 to approximately 66% from its current 54%. Most of this growth is expected to occur in Africa and Asia.

Objectives of the study:

  • To define, describe, and forecast the smart railways market on the basis of five regions, namely, North America, Europe, APAC, Middle East and Africa (MEA), and Latin America
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze each sub-segment with respect to individual growth trends, future prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the smart railways market
  • To strategically profile key players of the market and comprehensively analyze their core competencies in the market
  • To track and analyze competitive developments, such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations in the global smart railways market

To know about the assumptions considered for the study, download the pdf brochure:-https://www.marketsandmarkets.com/pdfdownloadNewNew.asp?id=960

 

Key Target Audience

  • Railway operations management solution vendors
  • Transportation technology solution providers
  • Rail infrastructure hardware and devices suppliers
  • Railway management support services providers
  • Railway management companies (private/public)
  • National railway governing authorities/regulators/bodies
  • Transportation research authorities
  • Government authorities related to railway infrastructure services
  • Network and systems integrators
  • Independent software vendors
  • Value-Added Resellers (VARs) and distributors

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long term?
  • What strategies are the vendors adopting to increase their hold over the market?

A few of the restraining factors that affect the growth of the market include operational efficiency & increasing congestion, lack of ICT infrastructure & interoperability, and high initial cost of deployment. The major smart railways solution vendors profiled in the report include Alstom SA (Saint-Quen, France), Cisco Systems, Inc. (San Jose, U.S.), General Electric (Connecticut, U.S.), ABB Ltd (Zurich, Switzerland), IBM Corporation (New York, U.S.), Hitachi Limited (Tokyo, Japan), Bombardier, Inc. (Quebec, Canada), Huawei Technologies Co. Ltd. (Shenzhen, China), Indra Sistemas SA (Alcobendas, Spain), Siemens AG (Munich, Germany), Alcatel-Lucent (Paris, France), and Ansaldo STS (Genoa, Italy).

To speak to our analyst for a discussion on the above findings, click Speak to Analyst:-https://www.marketsandmarkets.com/speaktoanalystNewNew.asp?id=960

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: [email protected]

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