Railway Management System Market: Regional Trends, Industry Growth & Forecasts To 2026
The railway management system market is set to grow from its current market value of more than USD 35 billion to over USD 55 billion. The railway management system industry 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 market growth over the forecast period.
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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 market on account of numerous benefits it offers, like easy access and flexibility, making it convenient for rail authorities to carry out their operations.
On the regional front, 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.
For instance, in December 2019, Indian Railways revealed plans to renovate its signaling system throughout its railway network by executing a Modern Train Control system with LTE-based MTRC. In addition, smart city development projects in Singapore and China are likely to further accelerate the demand for advanced railway management systems.
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 Market estimates and forecast, 2015 - 2026
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