Railway Management System Market Size, Growth Rate & Forecast (2019 - 2025)
The size of the global railway management system market size is expected to be estimated at USD xx billion in 2019 and to reach USD xx billion by 2025, with a compound annual growth rate (CAGR) of xx% during the forecast period 2019 - 2025, according to the market research analysts at Research Cosmos.
Rail infrastructure is growing at an incredible rate in all regions of the world. With the increasing infrastructure development and dependence on the railway society, the direction of the segment around the world is becoming more focused on finding and implementing cost-effective solutions that can increase the efficiency of the railway's punctuality, safety, security and capacity such as as ‘Railway Management Systems’. North America is expected to be the dominant region in the global market.
Growth Drivers
The major factor driving market growth is increasing disposable income in the urbanized areas. The emergence of advanced technologies in the development of new techniques is also ascribed to bolster the demand of the market. Changes in the strategies of railway systems to provide safety for the passengers is influencing the demand of the market extensively. In addition, rising investments to construct railway platforms with the latest technology is fueling the demand of the market. Between 2018 and 2023, the government has decided to increase the investment on the rail projects and also to replace the equipment with advanced versions. Railway management system aims to deliver greater consistency and also assist control systems and this is leveling up the demand of the market. The rise in the flow of the passengers along with a growing population across the world is broadening the demand of this market.
Key Challenges
However, the lack of skilled persons in analyzing the systems is strictly restraining the demand of the market. Stringent rules and regulations by the government are also to hamper the growth of the market. Rapid changes in economic strategies are impeding the growth of the market. The cost for installation and maintenance of the systems is bit expensive which is also limiting the growth of the market. The challenging factor for the market growth is increasing complications in real-time applications and also the time required to resolve the issue is very high than expected.
Opportunities
Railway management system market growth opportunities lie in the adoption of cloud-based technology in the applications and increasing efficiency of the systems. Furthermore, growing support from the top most leading companies in the IT sector to develop new solutions is magnifying the demand of the market. Increasing business deals between the other states and growing demand for transportation at lower costs is also solely to surge the growth of the market. Rising developments of various innovative systems to ensure a convenient and successful journey to the passengers in a smarter way is likely to boost up the demand of the market. Growing prevalence to maintain communication networks and other activities such as traffic management and operation management is also to gear up the demand of this market to the extent. These systems provide complete analytics of data and also to utilize energy in a specific manner which is creating chances for the market to grow. Increasing concern towards passenger’s safety and also to manage efficiently in a time of the disaster in order to avoid risk is expanding the demand of the market.
This research report includes following segmentation for the Global Railway Management System Market:
Railway Management System Market - By Solution
- Rail Asset Management
- Track Monitoring
- Revenue Management
- Intelligent Signaling System
- Route Planning & Scheduling
- PTC
- CBTC
- PIS
- Security & Analytics
Railway Management System Market - By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Regionally, North America is expected to be the dominant market, followed by the Asia-Pacific region, as most South Asian countries are moving towards automated solutions in the rail sector.
Some of the Promising Companies leading the Global Railway Management System Market Profiled in the Report are:
- Alstom SA (Saint-Ouen, 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)
- Ansaldo STS (Genoa, Italy)
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