The Global smart railways market is anticipated to witness CAGR of 20.8% during the forecast period 2018-2027. This growth is attributed to the various railways modernizations developments such as big data and IoT (Internet of things). This advancement is expected to enhance efficiency of the railways which in turn drives the smart railways market globally.
The market of smart railways can be segmented on the basis of solutions which include the passenger information system, freight information system, rail traffic management system, rail operations management system, rail communication ,advance security monitoring system, and networking system, smart ticketing system, rail analytics system. The passenger information system offers real time passenger information. Smart railways also provides various computerized solutions such as traffic management, security monitoring, communication and networking. Smart Railways can also be segmented on the basis of devices for security and network connectivity including rail sensors, video surveillance cameras, smart cards, multimedia displays and networking & connectivity devices. Video surveillance cameras segment is most commonly used for safety and security purposes. Sensors are used to trace the train and digital smart cards are used for entry and exit of the passengers from the trains. On the basis of services global smart railways market can be segmented into professional, integration and cloud services .Cloud Services are primarily used to maintain real time information on passengers and in automated rail ticket systems. Among all the smart railways services segment cloud services is anticipated to contribute maximum share during the forecast period.
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By region, Europe is expected to witness high growth for smart railways on the account of the emergence of technology such as (IoT) internet of things and huge capital investments in smart railways projects by the government. North America is also observing increasing usage of cloud services technology and IoT platforms and is expected to fuel the market growth for smart railways in the region. Asia Pacific countries such as China, Japan, and India are some of the developing market for smart railways and it is expected to grow with the highest CAGR in the forthcoming years.
IoT (Internet of Things) application in Railways is anticipated to boost the growth of global smart railways market
The growing number of autonomous vehicle and deployment of internet of things (IoT) in railways is anticipated to drive the global smart railways market. Additionally, smart railways can reduce the cost associated with its operation, thereby increasing the profit margins and providing high quality services to customers. The smart railway market is anticipated to grow at the highest CAGR during the forecast period on the back of the burgeoning population and increasing urbanization. Additionally, rising expansion of smart devices is also expected to fuel the market growth of smart railways during the forecast period.
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The report titled “Global Smart Railways Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global smart railways market in terms of market segmentation by solutions, by devices, by services and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global smart railways market which includes company profiling of Alcatel-Lucent International, ABB Ltd, Bombardier Transportation, Ansaldo STS, Alstom SA, Cisco Systems, Inc., Indra Sistemas ,GE Transportation, CGI Group Inc., Huawei Technologies Co. Ltd., S.A., Hitachi Ltd., Computer Sciences Corp. and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart railways market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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