Railway Management System Market 2021-2026: Regional Trends, Growth Forecast & Competitive Analysis
Global railway management system market is anticipated to depict a CAGR of 8% through 2026, having recorded a valuation of USD 35 billion in 2019. By 2026, the market is expected to hit a remuneration of USD 55 billion.
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A look at the latest trends in global railway management system market reveals the launch of the first of its kind satellite-based railway traffic management system in Europe. Developed by the Italian Railway Network (RFI), the first pilot line in this railway management system project will be developed between Novara and Rho, with the integration of the Level 2 ERTMS (European Rail Traffic Management System).
While the inbuilt modern signaling system is set to comprise additional functions including the control of the length of the trains and the maximum permitted speed, efficient satellite navigation systems, comprising Galileo, have been deployed for tracking the location of railway carriages. An inclusive availability of information using these resources is likely to cause a substantial reduction in the risk of accidents, in turn bolstering railway management system market outlook through the ensuing years.
Escalating number of railway accidents has been instrumental in encouraging the installation of advanced maintenance solutions by railway network operators in the recent years. While train maintenance and railway management services are in great demand for keeping a precise record of the periodic maintenance schedules of vehicles and other assets, these solutions are also helpful in the assessment of vehicle condition throughout its life cycle.
Rising deployment of these railway management services is, therefore, set to escalate railway management systems demand, positively influencing industry outlook through the estimated timeframe.
Necessity of robust railway management systems for the efficient management of resources comprising processors, storage, and memory has been prompting the utilization of Linux open source operating system for the development of railway management system software. Provision of secure and flexible features by Linux has been instrumental for its increasing adoption in software development, in turn propelling rail asset management market expansion.
Surging adoption of railway management systems in Europe and North America coupled with the rising development of robust infrastructure backing the incorporation of advanced technologies is set to boost railway management system market demand over 2020-2026. Additionally, rising adoption of these systems by tram operators for streamlining traffic in crowded cities is further expected to escalate business landscape over the estimated period.
Advancing economic conditions could drive the adoption of modern technologies across the Asia Pacific railway sector. Various federal organizations in the region are heavily investing in railway management platform development projects to provide improved services for passengers while ensuring optimum convenience and safety. Citing an instance, in December 2019, Indian Railways revealed its plans to overhaul the signalling system throughout its network by implementing Modern Train Control solutions with LTE-based MTRC.
Rising innovation and railway management system projects by key market players, comprising Cisco, General Electric, IBM, Nokia, Eurotech, Atos, Huawei, Trimble, Siemens, Hitachi, Toshiba, and others, are, thus, set to propel global railway management system industry outlook over the projected period.
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Data Tables
TABLE 1 Railway management system market, 2015 - 2019 (USD Million)
TABLE 2 Railway management system industry, 2020 - 2026 (USD Million)
TABLE 3 Railway management system industry, by region, 2015 - 2019 (USD Million)
TABLE 4 Railway management system industry, by region, 2020 - 2026 (USD Million)
TABLE 5 Railway management system market, by component, 2015 - 2019 (USD Million)
TABLE 6 Railway management system industry, by component, 2020 - 2026 (USD Million)
TABLE 7 Railway management system industry, by deployment model, 2015 - 2019 (USD Million)
TABLE 8 Railway management system industry, by deployment model, 2020 - 2026 (USD Million)
TABLE 9 Railway management system market, by OS, 2015 - 2019 (USD Million)
TABLE 10 Railway management system industry, by OS, 2020 - 2026 (USD Million)
TABLE 11 Industry impact forces
TABLE 12 Company market share, 2019 (Revenue)
TABLE 13 Solution market, 2015 - 2019 (USD Million)
TABLE 14 Solution market, 2020 - 2026 (USD Million)
TABLE 15 Rail operation management system market, 2015 - 2019 (USD Million)
TABLE 16 Rail operation management system market, 2020 - 2026 (USD Million)
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