Global Smart Railways Market: Overview

Smart railways, which includes smart ticketing, e- catering, freight information systems, etc., are a reality. They help up efficiency of transport and bring about reduction in costs eventually by automating various processes and leveraging technology to improve services. Smart railways are built by deploying GSM-R systems, cloud computing, and data analytics. A smart railway system bundles devices and components, solutions, and services, which automates and optimizes the usage of railway infrastructure to carry out advanced functions. With railways being one of the most preferred means of transport, smart railways are primed for good growth in the foreseeable future.

A report by Transparency Market Research furnishes crucial information on the global market for smart railways by examining its various facets. It discusses the growth drivers, restraints, trends, and opportunities in the market. It also makes use of market-leading analytical tools such as Porter’s Five Forces and SWOT analysis to comprehend the current competitive dynamics and segments the overall market into different groups to study it thoroughly. The report presents an executive-level blueprint of the global market for smart railways too.

Global Smart Railways Market: Trends and Opportunities

Providing tailwinds to the global market for smart railways is the massive allocations by governments of different nations in upgrading and modernizing railways so as to simplify its management and make commuting seamless for the ever-increasing number of travelers. Collaborations among different organizations are being formed to lay the groundwork of smart railways projects in nations across the globe. In China, for example, China Construction Bank Corp., Bank of China Ltd., and others have joined hands in a public-private partnership to invest a staggering US$28 bn in different smart railways projects.

Further, swift pace of urbanization and growth in population is also said to be stoking growth in the market for smart railways. Thrust on building smart cities by governments in various nations is proving beneficial to the market too.

However, the absence of proper IT infrastructure to facilitate smart railways, steep cost of deploying such advanced services, and complexities in integrating advanced solutions with the right analytical tools are dealing a blow to the market for smart railways.

Solution-wise, the global market for smart railways can be divided into freight information system, passenger information system, rail communication and networking system, advanced security monitoring system, smart ticketing system, and rail analytics system. Component-wise, it can be segmented into networking and connectivity devices, video surveillance cameras, and multimedia infotainment displays.

The two main services in the global market for smart railways are professional services and managed services. Professional services again can be divided into support and maintenance, consulting services, and system integration and deployment.

Global Smart Railways Market: Regional Outlook

Geographically, North America, South America, Asia Pacific, Europe, and the Middle East and Africa are the key regions in the global market for smart railways. Asia Pacific, among them, is projected to rise at a healthy clip surpassing other regions because of the high competition and proliferation of connected machines in the region. Thrust on building smart cities by governments of most nations in Asia Pacific is also serving to catalyze growth.

Global Smart Railways Market: Competitive Dynamics

Some of the prominent names operating in the global market for smart railways are Huawei Technologies Co., Ltd., Alstom SA, General Electric, Cisco Systems, Inc., IBM Corporation, ABB Limited, Hitachi Limited, Indra Sistemas S.A., Bombardier, Inc., Siemens AG, and Ansaldo STS. The report analyzes their product offerings, major projects, sales and revenues, and market shares. It also tries to gauge their growth prospects in the near future.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Smart Railways Market