"Increased adoption of Internet of Things, as well as, automation technologies to enhance optimization is expected to drive the growth of the railway management system market"
The railway management system market size is estimated to be USD 29.27 billion in 2016 and is projected to reach USD 57.88 billion by 2021, at a CAGR of 14.6% from 2016 to 2021, due to the need of Internet of Things (IoT) technology for better railway control, services, fast operational activities in public services, and transportation services. Government and regulatory bodies are striving for the furtherance of the transport infrastructure systems, as it replicates the development of the economy. The restraints of the railway management system market include operational efficiency & increasing congestion, high initial cost of deployment & capacity, and lack of ICT infrastructure & interoperability.
"Rail traffic management system is estimated to be the fastest-growing market during the forecast period"
The rail traffic management system is expected to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period, due to the rise in installations of intelligent signaling solutions and demand for real-time train planning & route scheduling. In addition to that, traffic analytics solutions provide information for planning and forecasting for improved and advanced traffic management. The solution helps railway operators determine the future trends and patterns of transportation.
"Europe is expected to dominate the market during the forecast period"
With regards to the geographic analysis, Europe is expected to benefit from its technological advancements, large number of smart devices, strong government regulations, followed by high usage of big data analytics, and predictive and sensor analytics across the railways industry.
Asia-Pacific (APAC) is expected to lead the railway management system market, by region, between 2016 and 2021. The growth can be attributed to the global competition, increasing penetration of smart devices, connected machines, and increasing investment in smart cities.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profiles of primary discussion participants are given below:
- By Company Type: Tier-1 (32%), Tier-2 (39%), and Tier-3 (29%)
- By Designation: C-Level (72 %), Manager Level (20 %), and Others (8%)
- By Region: North America (29 %), Europe (43 %), APAC (18 %), and the Rest of World (RoW) (10%)
The various key smart railway vendors profiled in the report are as follows:
1. Alstom SA (Saint-Ouen, France)
2. Cisco Systems, Inc. (San Jose, U.S.)
3. General Electric (Connecticut, U.S.)
4. ABB Ltd. (Zurich, Switzerland)
5. IBM Corporation (New York, U.S.)
6. Hitachi Limited (Tokyo, Japan)
7. Bombardier, Inc. (Quebec, Canada)
8. Huawei Technologies Co. Ltd. (Shenzhen, China)
9. Indra Sistemas SA (Alcobendas, Spain)
10. Siemens AG (Munich, Germany)
11. Alcatel-Lucent (Paris, France)
12. Ansaldo STS (Genoa, Italy)
