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"Forming a more integrated transportation network is crucial for the rail industry to withstand the disruption caused by freight service aggregators, shared mobility service providers and local network developers," noted Frost & Sullivan Mobility Research Analyst Krishna Achuthan. "Combining third-party and owned services will enable intermodal transportation. Eventually, the higher levels of automation and integration will make possible seamless intra-urban and inter-city transportation."
The expansion of rail industry stakeholders into key markets will help them harness the Internet of Things to enhance efficiency, information, safety and security in rail transportation. Revenues could cross the $50 billion mark in 2025, with logistics and mobility services gaining prominence due to the integration of services and market consolidation.
"Rail OEMs are expected to expand capabilities in digitalizing platforms and rolling stocks, and present platform-as-a-service and train-as-a-service to customers," noted Achuthan. "Rail operators, meanwhile, will deliver comprehensive solutions for rail freight transportation through integrations with other modes of transport."
The important role played by OEMs and operators, along with the automation and digitalization of processes, will give a huge boost to the rail transport market. Rail systems will become arterial transportation modes that transport payloads within regions and become integral to intra-urban mobility.
Changing Business Strategies in Rail is part of Frost & Sullivan's Transportation and Logistics Growth Partnership Service program, which also includes insights on ridesharing, vehicle design and Uber technologies.
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Changing Business Strategies in Rail
Corporate Communications – North America
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SOURCE Frost & Sullivan