Global Wayside Control Systems Market – Introduction
- Wayside control systems easily connect train operations to back-of?ce management for monitoring, vital signaling, and other applications. Wayside control systems effortlessly integrate control, networking, and information processing in a single automation control system.
- Wayside control systems helps to expand industrial network efficiently & quickly, and their industrial-grade design also assures stability & reliability. Wayside control systems are generally used in the rail industry.
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Increasing budget for development of railways driving the global wayside control systems market
- Emerging countries such as India and China are digitalizing their railway infrastructure by allocating higher budgets for the same. For instance, according to India Brand Equity Foundation, India is expected to allocate a budget of US$124.13 Bn to its railway sector from 2018 to 2022, which was US$18.8 Bn in 2017.
- Simultaneously, numerous countries worldwide are constantly focusing on increasing their rail budget to adopt novel technologies such as rolling stock, wayside control systems, etc. For instance, according to the Canadian government, the Canadian National Railway (CN) department invested approximately US$320 Mn in Ontario to enhance the railway structure. Therefore, increasing budgets or expenditure for development of railways is driving the global wayside control systems market.
Rise in use of public transport services to minimize traffic congestions, expected to be an opportunity in near future for the market
- Road transportation is becoming more and more crowded with the upsurge in sale of private vehicles including passenger cars and bikes, which leads to road congestion or road blockage. Direct costs connected with road blockage is expected to reach approximately 2% of GDP as these blockages directly translate into extra money and time.
- Other public transportation options such as trams, passenger trains, metros, and monorails are capable of carrying many passengers on board. At the same time, they help to free up the road space to be utilized by other vehicles. This in turn encourages the growth of public transport and the adoption of novel technologies such as wayside control systems.
Lack of proper rail infrastructure expected to significantly hamper the wayside control systems market
- Many underdeveloped countries across the globe suffer from lack of proper rail infrastructure due to the absence of integrated planning, low budgets, and huge information gap. This results in low adoption of novel technologies or digitalization in the railway sector in countries such as South Africa.
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North America to hold major share of the global wayside control systems market
- In terms of region, the global wayside control systems market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global wayside control systems market during the forecast period due to increasing demand for energy-efficient transport which indicates potential growth for the wayside control systems market. Europe is estimated to be the second largest market for wayside control systems from 2019 to 2027. Increasing investment for the growth of railway networks specifically in U.K. and Germany is likely to drive the wayside control systems market in the region.
- Asia Pacific is projected to be a rapidly expanding region of the global wayside control systems market during the forecast period due to increasing government funding for electrification of railway tracks, which is expected to increase the adoption of wayside control systems in the region.
Key Players Operating in the Global Wayside Control Systems Market
- Advantech Co., Ltd.
- Kyosan Electric Mfg. Co., Ltd.
- LILEE Systems
- MEN Mikro Elektronik GmbH
- Siemens Ag
- Wabtec Corporation
Global Wayside Control Systems Market: Research Scope
Global Wayside Control Systems Market, by Component
Global Wayside Control Systems Market, by Application
- Automatic Train Control (ATC)
- Automatic Train Protection (ATP)
- Automatic Train Operation (ATO)
- Automatic Train Supervision (ATS)
- Centralized Traffic Control (CTC)
Global Wayside Control Systems Market, by Industry
Global Wayside Control Systems Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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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
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- Latin America
- The Middle East and Africa
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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?
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