Railway Management System Market Latest Trends 2021 | Recent Industry Analysis To 2026
The railway management system market is set to observe growth rate of over 8% till 2026. A look at the latest trends in global railway management system industry 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).
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The railway management system market is poised for robust growth over the ensuing years with the advent of cutting-edge technologies including IoT, cloud, and AI. In recent years, the trend of digitalization has traversed the fields of automobiles, electronics, and IT, reaching major verticals in transportation like railways. The deployment of digital technologies in railways to improve overall customer experience by offering value-added services to increase reliability, efficiency, safety, and performance of railways is likely to accelerate the railway management system industry growth over the forecast period.
Evidently, the rail maintenance management systems segment dominants the overall industry with lucrative revenue proceeds. The increasing number of railway accidents in recent years has prompted railway operations to incorporate innovative maintenance solutions. Adopting train maintenance management platforms helps operators in keeping an accurate record of the previous maintenance schedules and create alerts for periodic maintenance routine of vehicles and other railway assets.
In particular, vehicle maintenance scheduling systems enable an assessment of the vehicle condition throughout the life cycle based on data evaluations. On the other hand, predictive rail maintenance services include the implementation of sensor-based analytical monitoring in real-time for assets and sub-systems that offer enough time to take pivotal measures based on the recorded condition parameters.
Based on the deployment model, the cloud deployment model segment is growing at a prominent rate in the railway management system industry on account of numerous benefits it offers, like easy access and flexibility, making it convenient for rail authorities to carry out their operations.
These models are also highly scalable and can conveniently accommodate increasing amounts of data without the need to expand on-premise infrastructure. In addition, the strong presence of cloud computing technology providers like IBM Corporation and Huawei Technologies are likely to further support the cloud-based railway management systems.
Asia Pacific is anticipated to offer lucrative growth opportunities for the railway management system market. Improving economic conditions in the region are supporting the adoption of cutting-edge technologies. Government authorities in the region are investing heavily in railway infrastructure to offer improved services and ensure the safety of passengers.
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 industry 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.
While speaking about the competitive landscape, it is imperative to mention that industry participants are undertakings several organic and inorganic growth strategies such as mergers, acquisitions, product launches to tap major market share.
They are focusing on forming partnerships with government organizations and railway authorities to deploy their solutions to a larger network, Notably, Bombardier, Atos, Alstom, Eurotech, Indra, Thales, Trimble, General Electric, Hitachi, Toshiba, Huawei, IBM, Nokia, ABB, Cisco, and Siemens are key companies currently at the forefront of railways management system industry.
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Some Point from Table of Contents:
Chapter 6 Railway Management System Market, By Deployment Model
6.1 Key trends, by deployment model
6.2 On-premise
6.2.1 Market estimates and forecast, 2015 - 2026
6.3 Cloud
6.3.1 Market estimates and forecast, 2015 - 2026
Chapter 7 Railway Management System Market, By Operating System
7.1 Key trends, by operating system
7.2 QNX
7.2.1 Market estimates and forecast, 2015 - 2026
7.3 Linux
7.3.1 Market estimates and forecast, 2015 - 2026
7.4 VxWorks
7.4.1 Market estimates and forecast, 2015 - 2026
7.5 Others
7.5.1 Railway Management System Market estimates and forecast, 2015 - 2026
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