RAILWAY MANAGEMENT SYSTEM MARKET TO REACH USD 55.2 BILLION BY 2024 | CAGR 11.7% – FORENCIS RESEARCH

Railway Management System Market - Global Industry Analysis and Forecast 2017 to 2024

Global Railway Management System Market: Key Highlights

  • According to the new market research report Railway Management System Market by Solution (Train Operation Management, Train Traffic Management, Rail Transportation & Management, Train Communication Networks, Traffic Management Systems, Passenger service solution, Automatic train operation (ATO)), by Service (Intelligent Mobility Services, Virtual Private Network (VPN) Service, Management Services, Consulting), by End-User (OEM, MRO), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2019 to 2024)”, the global Railway Management System market is estimated to reach USD 5.5 Billion by 2024 at a CAGR of around 11.7% during the review period.
  • Various facilities such as enquiry about the train location, reservation facility, availability of seat, and the delay time of railways are being provide by the railway management system to passengers
  • Booking and cancellation of tickets and for enquire about the train status, train movements and signaling, as well as planning train routes, and diversions are also done by railway management systems
  • Enhancement of technologies coupled with adoption of Internet of things (IoT) has also expected to drive the demand for railway management system.

Railway Management System Market

Global Railway Management System Market: Key Market Dynamics

  • Increasing demand for in machine learning across railway management system to provide various advance service and solution for solving scheduling and outing issues has expected to surge the demand for the product market
  • Growing adoption of digitalization for enhancing the operational efficiency may boost the demand for railway management system
  • Higher installation cost and major expenses involved in financing the railway management may hinder the growth of the market

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Global Railway Management System Market: Regional Overview

  • Europe

The railway management system market in the Europe region is projected to witness high demand owing to the well-established and developed railway systems.  According to the Eurostat, in 2018 rail passenger transport in EU was estimated at 472 billion passengers-kilometers, and was up by 1.5% from previous year.  Moreover, adequate technology infrastructure, high adoption if Internet of things (IoT), and growing demand for railway management tools are some of the factors expected to boost the market growth.

  • Asia-Pacific

Rising disposable income, blooming economy, and rapid urbanization are factors contributing the market growth in Asia-pacific region. Additionally, various government initiatives for bringing about digital transformation and modernization in the region rail network are some other factors expected to surge the market growth. For instance, China has invested USD 456 billion for expanding its urban transportation by 6,000 km by 2020.

Global Railway Management System Market: Key Players Overview

  • Alstom:

Alstom is of the leading company which offers most efficient digital mobility solutions. The company offers complete range of equipment and service from high-speed trains, metros, trams and e-buses to integrated systems, customized services, infrastructure and signaling and digital mobility solutions. In December 2019, the first line in Denmark has equipped with both European railway traffic management system (ERTMS) trackside, on-board signaling solution and fully integrated with the traffic management system from Alstom.

  • Siemens AG:

In 2019, the company generated revenue of USD 98.04 Billion. In May 2018, Siemens was commissioned a contract to supply the Hungarian line Százhalombatta—Pusztaszabolcs. Siemens would provide the train control system, Trainguard 200, including the installation of European Train Control System (ETCS) Level 2 and Radio Block Center (RBC), as well as, 2 electronic signal box types, Trackguard Simis IS. The contract will last till the end of 2020.

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Published : 2020-01-15