Railway Management System Market Revenues to expand 56.18 billion USD by 2023

Posted on 2019-11-21 by MarketsandMarkets in Technology // 0 Comments

Northbrook, IL 60062, USA, 2019-Nov-21 —

The Railway Management System Market size was USD 30.00 billion in 2017 and is projected to reach USD 56.18 billion by 2023, at a compound annual growth rate (CAGR) of 10.2% during 2018-2023, as per a report by MarketsandMarkets.

Why increasing globalization and need for advanced transportation infrastructure is a key opportunity?

The impact of globalization has a direct effect on the traffic across all types of transportation. Above all, there is a demand for increased speed, security, and reliability. Therefore, the future transportation ecosystem must deliver solutions to satisfy the demand, from source to destination, with a high level of service, regardless of the distance traveled or the number of steps required to reach the destination. The demand of people is changing daily, and therefore, there is a need for more convenient travel solutions.

Intelligent solutions, such as advanced PIS, advanced vehicle control systems, and various other systems, provide information regarding the real-time position of vehicles, which may be used to monitor schedule adherence and provide passengers information about the location of vehicles in transit. Providing accurate real-time information about the status and location of in-transit vehicles and fleet to the passengers is expected to improve satisfaction.

Globally, all public and private sector participants recognize the need for better transportation infrastructure. Increasingly, organizations see the potential of smarter railway transportation to address this need. Regions such as Europe, North America, and APAC are increasing their focus on building smarter rail infrastructure. In the next 5 years, an estimated USD 310 billion is expected to be spent on improving and replacing rail infrastructure facilities and services, globally.

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Key Market Players in Railway Management System Market

The key market players profiled in this report include Hitachi (Japan), Bombardier (Canada), Huawei (China), Indra Sistemas (Spain), Atos (France), Toshiba (Japan), Tech Mahindra (India), Nokia (Finland), Ansaldo (Italy), Siemens (Germany), Thales (France), DXC Technology (US), ABB (Switzerland), Amadeus (Spain), Alstom (France), Cisco (US), Optasense (UK), IBM (US), General Electric (US), GAO RFID (Canada), EKE Electronics (Finland), Sierra Wireless (Canada), Eurotech (Italy), Frequentis (Austria), and Trimble (US). These players offer various railway management solutions and its associated services to cater to the demands and needs of the marketspace. Moreover, they have adopted various growth strategies, such as mergers & acquisitions; partnerships & agreements; business expansions; and new product launches. The major growth strategy followed for growth is partnerships & agreements.

Alstom is a global leader in the rail infrastructure industry. It operates through four business segments, namely, rolling stocks, systems, services, and signaling. It serves the rail transport industry through its transport sector segment. Alstom possesses the capabilities required to build the world’s fastest train and the highest capacity of automated metro. Alstom has expertise in manufacturing and deployment of trains, railway solutions, and infrastructure development. Its product portfolio ranges from high-speed trains, electric trains, signaling equipment, track laying, and electrification in railway stations and depots. The company has maintained a strong hold in providing environment-friendly rail solutions and sustainable railway innovations across the globe.

Bombardier is a global leader in rail technology and offers a comprehensive portfolio of solutions, comprising rail solutions, ranging from trains to subsystems and signaling. The company operates through two business segments, namely, Bombardier Aerospace and Bombardier Transportation. Bombardier Transportation segment offers rail solutions, ranging from complete trains to subsystems, maintenance services, system integration, and signaling systems. Its products and services portfolio includes railway vehicles, rolling stocks, locomotives, propulsion and control solutions, transportation systems solution, rail control solutions, professional services, deployment services, and integration services. Bombardier has adopted a mix of organic and inorganic growth strategies for overall growth.

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