Global Digital Railway Market: Overview
Railways are often considered as one of the key components in the development of any nation. With a strong and reliable railway network, travel, trade, and tourism flourish and bring ample economic growth and stability. With the advancements in technology, it has become a huge priority for the governments across the globe to transform and upgrade their existing railway networks. This has been the primary driver for the development of the global digital railway market.
Request a brochure to get extensive insights into the Digital Railway market
Global Digital Railway Market: Notable Developments
Majority of players in the digital railway market are consistently looking to develop more innovative products, solutions, and services. The vendors in different region are opting for other development strategies such as mergers, acquisitions, and partnerships. Such developments are expected to help the growth of the global digital railway market.
Some of the recent notable developments in the global digital railway market are given below:
- In January 2019, Taiwan Hitachi Asia Pacific Co. Ltd., a subsidiary of Hitachi Ltd. announced that the company has been awarded with an order to supply around 600 of Electric Multiple Unit (EMU) train cars.
- In April 2019, Siemens Mobility announced that the company has installed an intelligent signaling systems in three of busiest railway stations.
Stuck in a neck-to-neck competition with other brands? Request a custom report on “digital railway market”
Global Digital Railway Market: Drivers and Restraints
The overall dynamics of the rail industry across the globe are undergoing revolution due to the introduction of new passenger and freight management systems. It has been one of the key driving factors for the uptake of the global digital railway market. With more and more countries opting for overhaul of their traditional railway infrastructure and adopting for highly advanced technological solutions, it is natural to expect the global digital railway market to achieve high growth during the given forecast period of 2019 to 2027.
Another important factor for the development of the global digital railway market has been the surreal advancements in the communication technologies. These new technologies have helped in upgrading the traditional signal systems, monitoring of highly traded paths, and eased up the overall railway communication. This has thus been a great driving factor for the growth of the global digital railway market.
Global Digital Railway Market: Geographical Outlook
Primarily, there are five main geographical segments of the global digital railway market. These five regions are Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these, the digital railway market has be predominantly led by the Europe region. The nations from Western Europe such as Germany, France, and the UK have a highly developed railway infrastructure. These countries are also among the leading users of advanced digital railway services and solution. In recent years, the countries across the Europe have been investing heavily in the digitization of their railway network. These initiatives have worked in the favor of the development of the digital railway market in the region. Moreover, the trade and social agreements among the countries that are part of the European Union have also encourages cross border trade of larger scales. Also, growing tourism and domestic travels has urged these countries to digitize their railway infrastructure. These have been the biggest driving factors for the growth of the Europe market for digital railway.
In coming years, more robust growth of the market is expected as the European Telecommunications Standards Institute has established a new committee to concentrate on the privacy standardization of Machine to Machine communication.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.