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.