Global Smart Railways Market is valued approximately at USD 20.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.7% over the forecast period 2020-2026. Smart railways incorporate information and communication technology to the railway structure to provide new-generation services and solutions for rail transport and operations. It also offers reliable and advanced services to commuters to meet the growing consumer demand for safe and efficient services. This helps in improving passenger experience, operational efficiency and offers high returns on investments. The demand for smart railway is accredited to the growing demand for cloud-based services and increased adoption of IoT technology. The emergence of the Internet of Things has driven technological advancements in the areas across the network, sensors, radio access, and other systems. Radio-based communication network offers Wi-Fi, Bluetooth and 3G, and 4G services to utilize smart railways projects. For instance, in July 2019, Cisco aligned with Google, aiming to offer, access to free and high-speed Wireless Fidelity (WiFi) at public locations in India. According to company, Cisco would offer network infrastructure for Google Station Service on numerous public locations, including railway stations. Similarly, in May 2019, Huawei partnered with Bombardier, to provide turnkey communication solutions for yellow and pink monorail lines in Bangkok. The market also seeks opportunities due to the emerging trend of smart cities along with autonomous Trains. However, lack of ICT infrastructure impedes the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Smart Railways market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing have well-established railway infrastructure, and several railway operators in the region use some of the most advanced smart railways solutions. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as the emergence of megacities, public-private partnership (PPP) projects for the smart railway system would create lucrative growth prospects for the Smart Railways market across Asia-Pacific region.
Major market player included in this report are:
Cisco Systems Inc.
IBM Corporation
ALE International
Huawei Technologies Co. Ltd
Siemens AG
Hitachi Ltd
Tata Consultancy Services Limited
Moxa Inc.
Thales Group
General Electric Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Solution
Services
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017, 2018
Base year - 2019
Forecast period - 2020 to 2026
Target Audience of the Global Smart Railways Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
