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Smart Railways Market by Solution (Passenger Information, Freight Information, Rail Communication, Advanced Security Monitoring, Rail Analytics), Component, Service (Professional, Managed), and Region - Global Forecast to 2021
“Increasing trends of smart cities is the major factor expected to drive the growth of the smart railways market”
The smart railways market size is estimated to be USD 10.50 billion in 2016 and is projected to reach USD 20.58 billion by 2021, at a CAGR of 14.4% from 2016 to 2021, due to the need of smart cities for better infrastructure, services, fast operational activities in public services, and transportation services. Government bodies are striving for the betterment of the transport infrastructure systems as it replicates the development of the economy. The restraints of the smart railways market include operational efficiency & increasing congestion, high initial cost of deployment & capacity, and lack of ICT infrastructure & interoperability.
“Rail analytics is estimated to be the fastest-growing market during the forecast period”
The rail analytics system is expected to grow at the highest CAGR during the forecast period due to the rise of demographic growth and hyper-urbanization. In addition to that, the cloud-based services, analytics, and mobile internet technologies demand are increasing due to their efficient IT management and reliable security environment.
“Europe is expected to dominate the market during the forecast period”
With regards to the geographic analysis, Europe is likely to benefit from its technological advancements, large number of smart devices, strong government regulations, and followed by high usage of big data analytics, predictive and sensor analytics across all the railways industry.
Asia-Pacific (APAC) is expected to lead the smart railways market by region between 2016 and 2021. The growth can be attributed to the global competition, increasing penetration of smart devices, connected machines, and increasing investment in smart cities.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given below:
• By Company Type: Tier-1 (42%), Tier-2 (33%), and Tier-3 (25%)
• By Designation: C-level (75 %) and Manager Level (25 %)
• By Region: North America (43 %), Europe (29 %), APAC (18 %), and Rest of World (RoW) (10%)
The various key smart railways vendors profiled in the report are as follows:
1. Alstom SA (Saint-Quen, France)
2. Cisco Systems, Inc. (San Jose, U.S.)
3. General Electric (Connecticut, U.S.)
4. ABB Ltd (Zurich, Switzerland)
5. IBM Corporation (New York, U.S.)
6. Hitachi Limited (Tokyo, Japan)
7. Bombardier, Inc. (Quebec, Canada)
8. Huawei Technologies Co. Ltd. (Shenzhen, China)
9. Indra Sistemas SA (Alcobendas, Spain)
10. Siemens AG (Munich, Germany)
11. Alcatel-Lucent (Paris, France)
12. Ansaldo STS (Genoa, Italy)
The global smart railways market has been segmented on the basis of solutions, components, services, and regions. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities in different regions. In addition to this, product portfolio analysis, value chain analysis, and strategic benchmarking are some of the other MarketsandMarkets analysis included in the report.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the smart railways market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.