The smart railways market size is estimated to grow from USD 10.50 Billion in 2016 and to USD 20.58 Billion by 2021, at a CAGR of 14.4% from 2016 to 2021.
Some of the major factors that are driving the growth of the market include the demographic growth & hyper-urbanization, demand for improved service quality, telecom-based technological growth, and emergence of IoT technology.
The scope of this report covers the smart railways market analysis by solution, service, component, and region. The managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services support the implementation of smart railways solution across trains and stations.
The rail analytics system is expected to grow at the highest CAGR during the forecast period due to the rise of demographic growth and hyper-urbanization. In addition to that, the cloud-based services, analytics, and mobile internet technologies demand are increasing due to their efficient IT management and reliable security environment.
On the basis of components, the multimedia and infotainment displays segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing demand of improved service quality and gain competitive advantage.
As per the geographic analysis, the adoption of smart railways solutions across APAC is estimated to rise at a significant growth rate due to increasing global competition, increasing penetration of smart devices, connected machines, and increasing investment in smart cities. The regional analysis of the market involves the classification of the solution, services, and components into North America, Europe, APAC, MEA, and Latin America.
A few of the restraining factors that affect the growth of the market include operational efficiency & increasing congestion, lack of ICT infrastructure & interoperability, and high initial cost of deployment.
The major smart railways solution vendors profiled in the report include:
- ABB Limited
- Alstom SA
- Ansaldo Sts
- Bombardier, Inc.
- Cisco Systems, Inc.
- General Electric
- Hitachi Limited
- Huawei Technologies Co. Ltd
- IBM Corporation
- Indra Sistemas SA
- Siemens AG
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Railways Market Analysis, By Solution
7 Market By Component
8 Smart Railways Market Analysis, By Service
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/cg63hn/smart_railways
Research and Markets
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/20-billion-smart-railways-market-by-solution-component-service-and-region---global-forecasts-2016-2021---research-and-markets-300375282.html
SOURCE Research and Markets