Railway Management System Market to 2027 - Global Analysis and Forecasts by Solution; Services; Deployment Type
Dec 17, 2019, 17:20 ET
NEW YORK, Dec. 17, 2019 /PRNewswire/ --
The global railway management system market was valued at US$ 15.0 Bn in 2018 and is expected to reach US$ 43.4 Bn by 2027 with a CAGR growth rate of 12.9% in the forecast period from 2019 to 2027.
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As the world continues its rapid urbanization, especially for public transport lines, the transit lines must adopt the advanced technologies to meet demand.Together with the infrastructure challenges postured by the development of new mega-cities, the railway industry is facing fierce competition, increasing customer expectations, and frequent technological advancements.
The railway systems themselves have experienced an intense era of modernization through complex automation developments including, onboard communication systems and driverless trains.
Railway management system include numerous solutions, which facilitate the management of the rail industry in a better manner.It includes several activities, such as traffic management system, railway reservation system, operations management system, passenger information system, maintenance management system, and others.
These activities help to boost the performance of railway management.
The railway management system market is segmented on the basis of deployment type, service, and solution; analysed across five major geographical regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).The market is bifurcated on the basis of deployment type into on-premise and cloud.
Currently, the on-premise deployment type dominates the railway management system market, however the cloud based systems are anticipated to grow at the fastest rate over the forecast period.The market is segmented on the basis of service into professional and managed services.
Traffic management system, railway reservation system, operations management system, passenger information system, maintenance management system, and others constitute the solution segment of railway management system market.
The overall railway management system market size has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the railway management system market.
Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis.The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the railway management system market.
Some of the key players included in the global railway management system market are Bombardier, Inc, DXC Technology Company, EKE-Electronics Ltd, General Electric Company, Hitachi, Ltd., Huawei Technologies Co., Ltd., Indra Sistemas S.A., OptaSense, Siemens AG, and Thales among others.
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