Railway Management System Market with $64bn revenue opportunity by 2024

The major companies working in the railway management system market include ABB, Ansaldo, EKE Electronics, Frequentis, Cisco, IBM, Nokia, Huawei, Bombardier, Indra, Toshiba, Trimble, Thales, Hitachi, Siemens, Alstom, Atos, Sierra Wireless, Thales, and Amadeus.

Europe dominates the rail management system market with a revenue of USD 13.4 billion in 2017. Europe is the chief accessible rail market worldwide with the rail operators residing in this region making strategic investments for automating their rail solutions. Rail operators are also focusing on working towards the renewal of high-speed trains as well as improving the rail infrastructure and urban transportation systems. Furthermore, signaling projects are also being initiated in various countries including Poland, Netherlands, Hungry and Portugal driving the market growth.

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The Asia Pacific rail management system market is anticipated to grow at the fastest rate at a CAGR of over 14% over the forecast timeframe. The major factors contributing to market growth in this region include the strategic initiatives adopted by the government, which include smart cities and digitalization coupled with the increasing GDP of the Asian countries. Furthermore, as transportation infrastructure in some of the countries is still in development phases, various companies are making strategic investments in this region due to a huge growth potential driving the market demand.

The Passenger Information System (PIS) holds the highest growth potential in the rail management system market. Due to a rising competition in the market and growing passenger expectations, train operating companies are continually striving to augment passenger satisfaction by delivering more information than just departure and arrival timings. Various reference messages and advertising content are displayed on the information devices inside & outside trains, enabling passengers to know their precise location, next train stops, and other beneficial information related to the train’s path.

The rail traffic management system dominates the railway management system market with a market revenue of over USD 7 billion in 2017. This growth is attributed to the rising demand for smart transportation services and efficient rail traffic management. These systems assist in augmenting operation efficiency and improve the level of rail automation. Companies are working with various rail networks for developing traffic management tools thereby delivering augmented passenger experience.

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The training and consulting service are projected to grow at a steady rate in the rail management system market. Various countries still in the development phase require efficient training and consulting services to implement the advanced rail management solutions contributing to their business profitability. These service providers assist in maximizing security and efficiency by providing effective consulting and safety training transforming the way rail operators carry out their business.

The on-premise deployment model holds the majority of the share in the rail management system market with a share of over 78% in 2017. These deployment models deliver enhanced flexibility in terms of data modifications, configurations and integration management driving their adoption in the market. However, the on-premise models require significant computing resources and large sensor networks due to which various rail authorities are now shifting towards cloud-based deployment models.

The system integration & deployment service segment dominates the rail management system market with an industry revenue of over USD 1 billion in 2017. Rail operators are working toward transforming their traditional network systems with advanced IP-based technologies. Hence, adopting efficient system integration & deployment services assist them in integrating their existing legacy systems with new technologies as well as deploying new systems for creating cost-efficient and highly-scalable & secured solutions delivering an enhanced end-to-end connectivity. These services also assist rail operators by reducing their deployment time & cost enabling, efficient work capabilities with reduced disruptions.

Browse key industry insights spread across 340 pages with 336 market data tables & 30 figures & charts from the report, “Railway Management System Market Size By Component (Solution [Rail Operation Management System {Facility Management Solution, Revenue Management Solution, Ticketing Management Solution, Workforce Management Solution, Rail Automation Management Solution}, Rail Traffic Management System {Intelligent Signaling Solution, Real-Time Train Planning And Route Scheduling Solution, Centralized Traffic Control Solution}, Rail Asset Management System {Train Information Solution, Track Monitoring Solution}, Rail Control System {Positive Train Control Solution, Communication-based Train Control Solution, Integrated Control System}, Rail Maintenance Management System {Vehicle Maintenance Scheduling Solution, Predictive Analytics For Maintenance Management Solution}, Passenger Information System, Rail Security], Service [Training and Consulting, System Integration and Deployment, Support and Maintenance]), By Deployment Model (On-Premise, Cloud), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Switzerland, Poland, China, Japan, Australia and New Zealand [ANZ], South Korea, India, Southeast Asia, Brazil, Mexico, Argentina, Chile, South Africa, GCC, Nigeria), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/railway-management-system-market

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