The global connected rail market size was US$ 86.8 billion in 2021. The globally connected rail market size is estimated to reach US$ 139.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2030.
Connected rail can be defined as a progressive method to efficiently manage railway operations through sharing of railway data across rail infrastructure elements such as control centers, passengers, freight, and ticketing departments. Connected rail can be defined as a progressive method to efficiently manage railway operations through sharing of railway data across rail infrastructure elements such as control centers, passengers, freight, and ticketing departments. They are a practical integration of advanced technologies such as the Cloud, Big Data, Analytics, Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), and Global Positioning System (GPS) to enhance the precision of rail operation.
Factors Affecting Market Growth
• The development of the connected rail market and increasing penetration of digital infrastructure and the rise in demand for automated rail procedures help to boost the global market.
• Factors such as an increase in the integration of the Internet of Things (IoT) in the railway industry and a rise in demand for safety and compliance in rail transit, freight, and passenger capacity are anticipated to drive the market growth.
• Lack of consistency and technical infrastructure in developing countries and infrastructure changes in existing procedures may hinder the global market.
• Growing support for computing systems and technological advancements in green transportation and autonomous rail is expected to provide beneficial opportunities for market growth during the forecast period.
Impact Analysis of COVID-19
COVID-19 has presented the railway sector with remarkable economic challenges. Lockdown has prevented the spread of coronavirus to an extent but has taken a huge financial toll and had immensely impacted the business sector in the railway industry. However, with the easing of lockdown measures and the opening up of markets across the world, the demand for connected rail is expected to increase significantly in the near future, which will grow the global connected rail market growth.
Asia Pacific is expected to achieve massive growth in the connected rail market between 2021 and 2031. Strengthening railway networks in countries such as China and India, developing focus on several initiatives and schemes, and heavy investments in rail infrastructure are some of the key factors that may drive the growth of the market in the region.
The prominent players in the global connected rail market are:
• IBM Corporation
• Nokia Corporation
• Wabtec Corporation
• Cisco Systems Inc
• Robert Bosch GmbH
• Hitachi Limited
• Siemens AG
• Alstom SA
• Bombardier Inc.
The global connected rail system market focuses on Service, Rolling Stock, Safety and Signaling Systems, and Region
Segmentation on the basis of Service
• Passenger Mobility
• Automated Fare Collection System
• Train Tracking and Monitoring
• Passenger Information System
• Predictive Maintenance
Segmentation on the basis of Rolling Stock
• Light Rail and Trams
• Electric Locomotive
• Diesel Locomotive
• Passenger Wagons
• Freight Wagons
Segmentation on the basis of Safety and Signaling System
• Automated Train Control
• Communication Based Train Control
• Positive Train Control
Segmentation on the basis of Region
• North America
• The U.S.
• Western Europe
• The UK
• Rest of Western Europe
• Eastern Europe
• Rest of Eastern Europe
• Asia Pacific
• Australia & New Zealand
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Rest of South America