Railway Asset Management System Market Analysis, Drivers, Opportunities, Trends, Applications, And Growth Forecast To 2027
Railway Asset Management System Market Scenario:
Market Research
Future (MRFR), in its recently released research report, claims that the global
Railway Asset
Management System Market 2020 is booming
and projected to expand rapidly over the review period, achieving a significant
business value and a reasonable CAGR of 11.02% over the forecast period.
The Railway Asset Management
System Market is enduring an exacting period with its robust growth coming to
an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Railway
Asset Management System Market highlights the future prediction and the growth
alternatives that can be created.
The increase in
population growth, hyper-urbanization, the growing adoption of IoT as well as
automation technologies to boost productivity and the evolving trend of smart
cities are expected to be the key factors driving the growth of the demand for
railway management systems. Remote diagnostics, passenger details, and asset
planning are expected to drive the demand for advanced asset and fleet
management tools across the rail industry. Increasing involvement of private
companies in government-run rail markets, problems of road congestion due to
rapid urbanisation, and surging demand for multimodal transport and low-fares
are expected to positively impact the railway management system industry over
the next few years. High adoption of advanced technology, traffic management,
asset management, data processing, control settings and enhanced monitoring
systems are the major factors driving market development. Due to the
substantial increase in passenger traffic and freight traffic around the globe,
the global railway traffic management system market is projected to see
significant growth during the forecast period.
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Competitive Outlook:
The major market players
operating in the global market as identified by MRFR are Alstom General
Electric, DXC Technology, Cisco, ABB, IBM, Hitachi, Ansaldo, Huawei, Indra
Sistemas, Siemens, Eke-Electronics, ATOS, Toshiba, Bombardier, Tech Mahindra,
Nokia Networks, Thales Group, Eurotech and Sierra Wireless among others.
Segmentation:
· Based on the Solution, the
market has been segmented into rail operations management systems, rail asset
management systems, rail traffic management systems,rail control systems, rail
maintenance management systems, rail security, rail communication and networking
systems, passenger information systems, rail analytics, and freight information
systems. It is expected the rail traffic
management systems will have the largest market share in the solution category.
Rail traffic management systems allow the entire rail network to be centrally
managed and traffic controlled; the entire rail operations can be operated by a
central control system. This central administration program uses real-time data
to manage traffic over high-speed communication connections through trains and
rail infrastructures. Train traffic management includes timetables for the
signalling, traffic control, routing and train schedules.
· The network development and
delivery segment is expected to have the highest market share under the Services
group. System development and delivery services help to recognise the need for
adaptation or timely improvements to make smart railway applications compliant
with existing infrastructure. These services help to reduce the delivery time,
save costs, allow productive work and mitigate disruptions associated with
delivery.
· By Service, the market has
been divided into consulting, system integration and deployment and support and
maintenance.
Regional Analysis:
The geographical overview of
the global market has been conducted in four major regions, including the Asia
Pacific, North America, Europe, and the rest of the world (Latin America, the
Middle East, and Africa).
Asia-Pacific is poised to hold
the largest market share during the forecast period owing to the rise in the
adoption of new technologies and high investments in digital transformation.
The growing GDP of the APAC countries is also poised to contribute to market
growth. Most of the emerging economies in this region include Australia,
Singapore, Korea, China, Hong Kong, and India, which are said to be increasingly
investing in technological transformation.
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Table of Contents:
1. Executive Summary
2. Market Introduction
2.1. Definition
2.2. Scope Of The
Study
2.3. Market
Structure
3. Research Methodology
3.1. Research
Process
3.2. Primary
Research
3.3. Secondary
Research
3.4. Market Size
Estimation
3.5. Forecast Model
3.6. List Of
Assumptions
4. Market Dynamics
Continued….
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