Urban Rail Transit Signaling Market: Introduction
The signaling system provide the means to efficiently control train services, ensuring safety in train movements. It assists in optimization of metro infrastructure investment and running of efficient train services on the network.
Key Drivers of Urban Rail Transit Signaling Market
- Presently, national urban public transport authorities and PPP policymakers of several countries, especially developing countries in the world, are trying to develop comprehensive PPP policy systems for urban public transport, while the World Bank and the Asia Development Bank have also been actively advocating the construction of public transportation such as urban rail transit systems. This standard is estimated to provide the policy framework and PPP model principles applied in the urban rail transit sector, in line with the requirements of international organizations and governments. The standard would try to standardize the operation of urban rail transit PPP projects, reduce transaction costs, and attract more private capital involvement in the construction of urban rail transit projects. Therefore, this scenario is likely to boost new urban rail transit project developments in the coming years; subsequently, drive the demand for urban rail transit systems and consequently, propel the urban rail transit signaling market.
- In the signaling segment, future investments in Western Europe to upgrade and modernize signaling systems through the European Train Control System (ETCS) national implementation plans across different countries are estimated to propel the segment and boost the overall rail market
Challenges in Urban Rail Transit Signaling Market
- A significant proportion of urban rail transit business, at any given period, relies on government agencies and other public institutions, which have historically represented the vast majority of the value of the orders that urban rail transit project handling company book annually. The amount public institutions are able to invest and spend depends on complex political and economic factors, which could vary from one fiscal year to the next. Economic slowdown and public budgetary restrictions can cause a decrease in infrastructure investments, delays in placing orders, and delays in execution of contracts or payments, as well as a decrease in fiscal and other incentive-based measures to impact research and development expenses of the companies. Therefore, these factors hamper the urban rail transit signaling market.
Opportunities in Urban Rail Transit Signaling Market
- The rail industry is expecting positive change in the next few years due to the digital industry revolution, especially in signaling and maintenance services. Using disruptive technologies, such as Internet of things, automated trains, and big data analytics, new business models are expected to evolve especially toward more service-oriented approach. Consequently, original equipment manufacturers are closely monitoring the eco-systems to meet their future needs.
Asia Pacific to Dominate Urban Rail Transit Signaling Market
- Based on region, the global urban rail transit signaling market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is projected to be highly lucrative region of the global urban rail transit market during the forecast period. This is primarily owing to high urban transport infrastructure project investments by rapidly developing countries in the region. Governments in the region are committed to promoting public transport systems. Public transportation infrastructure in India needs high levels of investment and massive upgrading to spur a modal shift from private vehicles. It is estimated that over 50% people in India would be residing in urban areas by 2050. Metro rail is seen as a necessary solution for developing mass rapid transit systems in India’s large cities. Therefore, these prospects offer significant opportunity for the urban rail transit signaling market in the region.
Key Players Operating in Urban Rail Transit Signaling Market
The global urban rail transit signaling market is moderately consolidated. A few of the key players operating in the global urban rail transit signaling market are:
- MER MEC S.p.A
- CRRC Corp Ltd
- LARSEN & TOUBRO LIMITED
- Kawasaki Heavy industries
- Mitsubishi Electric
- General Electric
- Wabtec Corporation
Global Urban Rail Transit Signaling Market: Research Scope
Global Urban Rail Transit Signaling Market, by Component
- Continuous Automatic Train Control
- communications-based train control (CBTC)
- Interlocking System
- Train Depot Signaling
Global Urban Rail Transit Signaling Market, by Rail Type
- Metro Rail
Global Urban Rail Transit Signaling Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
- 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.