Smart Railways Market 2019 Global Industry Size, Developments Status, Share, Trends and Key Players Analysis, Forecast 2024
May 17, 2019
The report on the global Smart Railways market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, key player's market share analysis, competitive landscape and supply chain analysis.
Pune, India - May 16, 2019 /MarketersMedia/ —
Market Highlights:
Smart railways integrate information and communication technology to the railway infrastructure to offer new-generation solutions and services for rail transportation and operations. Smart railways offer advanced and reliable services to passengers to meet the increasing consumer demand for efficient and safer services. This helps in enhancing operational efficiency, passenger experience, and provides high returns on investments.
The demand for smart railway is attributed to the increased adoption of IoT technology and the growing demand for cloud-based services. The emergence of the Internet of Things has propelled technological advancements in the fields across the network, radio access, sensors, and other systems. Radio-based communication network offers Bluetooth, Wi-Fi, and 3G, and 4G services to deploy smart railways projects. The market also seeks opportunities due to the emerging trend of smart cities. However, the lack of ICT infrastructure is expected to limit market growth.
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Major Key Players
• Alstom SA (France),
• Cisco Systems, Inc. (U.S.),
• ABB Ltd (Switzerland),
• International Business Machines Corporation (U.S.),
• Hitachi Limited (Japan),
• Bombardier, Inc. (Canada),
• Huawei Technologies Co. Ltd. (China),
• Indra Sistemas S.A. (Spain),
• Siemens AG (Germany),
• Alcatel-Lucent (France)
According to Market Research Future, global Smart Railways Market is expected to grow at approximately USD 17 Billion by 2024, at a CAGR of approx. 12% between 2016 and 2024
Key Developments
September 2018, Thales launched the new generation of automatic train control system named SelTrac Generation 7 (G7). This control system is based on the latest technology that helps to reduce maintenance and operation costs while maintaining passenger safety.
April 2018, Teleste introduced a smart platform—S-AWARE. This platform includes advanced intelligence system and data analytics tool which has upgraded the traditional video surveillance systems. Also, this platform provides operating personnel with a powerful tool for the decision-making process.
April 2018, Indra developed a smart gate for rail vehicles which can detect cars and loading units transported in railroad terminals. These smart gates are equipped with electronic tags such as RFID technology, and specific algorithms to identify rolling stocks. This smart rail gate is expected to improve 10% capacity, punctuality, and reliability of the goods transport.
Segmentation:
By Type - Station and Onboard Type.
By Component - Networking & Connectivity Devices, Control and Maintenance, Video Surveillance Cameras, Multimedia Infotainment Devices, and Others
By Services - Consulting Services, System Integration & Deployment, and Support & Maintenance.
By Solution - Smart Ticketing System, Rail Communication & Networking System, Advanced Security Monitoring System, Passenger Information System, Rail Analytics System, and Freight Information System.
Regional Analysis:
The smart railway market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe accounted for the largest market share of 54.5% in 2017, with a market value of USD 6,301.7 million; the market is expected to register a CAGR of 15.8% during the forecast period. North America was the second largest market in 2017, valued at USD 2,776.6 million; the market is projected to exhibit a CAGR of 16.7%. However, the market in Asia-Pacific is expected to register the highest CAGR of 19.7%.
The adoption of IoT technology, fast economic growth, and significant investments on smart railways projects by the government are expected to drive the growth of the smart railway market in the region. Moreover, smart rail received a funding of USD 6.6 million from the European Union’s Horizon 2020 research and innovation program.
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Intended Audiences
• Smart railways companies
• Smart railways providers
• Computer graphics developers
• System integrators and third-party vendors
• Government bodies
• Technology investors
• Research institutes and organizations
• Market research and consulting firms
• End-users/enterprise-users
List of Tables
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL SMART RAILWAY MARKET, BY TYPE, 2018-2024
TABLE 3 GLOBAL SMART RAILWAY STATIONS MARKET, BY COMPONENT, 2018-2024
TABLE 4 GLOBAL SMART RAILWAY STATIONS MARKET, BY SERVICE, 2018-2024
TABLE 5 GLOBAL SMART RAILWAY STATIONS MARKET, BY SOLUTION, 2018-2024
Continued……
List of Figures
FIGURE 1 GLOBAL SMART RAILWAY MARKET: MARKET STRUCTURE
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DROC ANALYSIS OF GLOBAL SMART RAILWAY MARKET
FIGURE 4 DRIVERS IMPACT ANALYSIS: SMART RAILWAY MARKET
Continued……
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Contact Info:
Name: Market Research Future
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/smart-railways-market-2685
Source: MarketersMedia
Release ID: 513616
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