Dublin, Sept. 01, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Railways Market by Offering (Solutions (Rail Asset Management and Maintenance, Operation and Control, Communication and Networking, Security and Safety, Rail Analytics) and Services (Professional and Managed)), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The smart railways market is projected to grow from USD 26.0 billion in 2021 to USD 41.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period.
Major factors driving the growth of the smart railways market include the need for efficiency in rail operations, high demographic growth and hyper-urbanization enhancing the need for efficient railway systems, technological advancements targeted toward the enhancement of customer experience, increase in government initiatives and Public-Private Partnerships (PPP), and adoption of IoT as well as automation technologies to enhance optimization of smart railways.
By offering, the solutions segment to account for a higher market share during the forecast period
Solutions play a crucial role in handling all railways operations-related activities that include moving goods from the suppliers to the place of production and eventually to the end user. The growing need to improve the efficiency of rail operations, maximize operation agility, and workforce productivity is leading to the growth of the solutions segment.
The solutions systematically support action plans for reducing traffic congestion, efficient signaling over traffic, and managing ticket collection and security systems.
By services, the professional service segment to hold the largest market size in 2021
Professional services assist end users in working on defined projects. These services include consulting, system integration and deployment, and training, support, and maintenance. The professional services are growing in the smart railways sector, wherein railway management authorities rely on technology vendors for support and maintenance purposes. As the adoption of technology-based solutions increases, the demand for these services also increases.
By region, Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is estimated to be the fastest-growing region in terms of the growth of the smart railways market, due to a rise in the adoption of new technologies, higher investments for digital transformation, and the growth in Gross Domestic Product (GDP) of the APAC countries.
A majority of potential economies in the region, including Australia, Singapore, China, Korea, Hong Kong, and India, are expected to rapidly invest in the technological transformation of rail infrastructure. The high population growth rate in the region has intensified the need to transform and expand the existing rail infrastructure.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the smart railways market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Global Smart Railways Market
4.2 European Market, 2021
4.3 Asia Pacific Market, 2021
4.4 Market, by Country
5 Market Overview and Trends
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Need for efficiency in rail operations
5.1.1.2 High demographic growth and hyper-urbanization enhancing the need for efficient railway systems
5.1.1.3 Increase in government initiatives and public-private partnerships
5.1.1.4 Adoption of IoT and other automation technologies to enhance optimization
5.1.1.5 Technological advancements targeted toward the enhancement of customer experience
5.1.2 Restraints
5.1.2.1 High initial cost of deployment
5.1.3 Opportunities
5.1.3.1 Increase in globalization and need for advanced transportation infrastructure
5.1.3.2 Increase in the demand for cloud-based services
5.1.4 Challenges
5.1.4.1 Integration complexities with legacy infrastructure
5.1.4.2 Disruption in the logistics and supply chain of IoT devices
5.1.4.3 Data security and privacy issues related to IoT devices
5.2 Case Study Analysis
5.3 Disruptive Technologies
5.3.1 Internet of Things
5.3.2 Big Data Analytics and Cloud Computing
5.3.3 5G Network
5.3.4 Drones
5.3.5 Hyperloop
5.4 Value Chain Analysis
5.5 Ecosystem
5.6 Porter'S Five forces Model
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Buyers
5.6.4 Bargaining Power of Suppliers
5.6.5 Competitive Rivalry
5.7 Patent Analysis
5.8 Average Selling Price Trend
5.9 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
5.9.1 Drivers and Opportunities
5.9.2 Restraints and Challenges
5.9.3 Cumulative Growth Analysis
6 Smart Railways Market, by Offering
6.1 Introduction
6.2 Solutions
6.2.1 Solutions: COVID-19 Impact
6.2.2 Solutions: Market Drivers
6.2.3 Passenger Information System
6.2.3.1 Multimedia Information and entertainment
6.2.3.2 Network connectivity
6.2.4 Freight Management System
6.2.4.1 Freight operation management
6.2.4.2 Freight tracking
6.2.5 Security and Safety Solutions
6.2.5.1 Video surveillance and analytics
6.2.5.2 Intrusion detection
6.2.5.3 Access control
6.2.5.4 Fire alarm and voice evacuation
6.2.5.5 Others
6.2.6 Rail Communication and Networking System
6.2.6.1 Ground-to-train communication
6.2.6.2 Train-to-train communication
6.2.7 Smart Ticketing System
6.2.8 Rail Analytics System
6.2.9 Rail Asset Management and Maintenance Solutions
6.2.9.1 Asset planning and scheduling
6.2.9.2 Workforce management and optimization
6.2.9.3 Condition-based monitoring
6.2.9.4 Predictive maintenance
6.2.9.5 Others
6.2.10 Rail Operation and Control Solutions
6.3 Services
6.3.1 Services: COVID-19 Impact
6.3.2 Services: Market Drivers
6.3.3 Professional Services
6.3.3.1 Consulting
6.3.3.2 System integration and deployment
6.3.3.3 Training, support, and maintenance
6.3.4 Managed Services
7 Smart Railways Market, by Region
8 Competitive Landscape
8.1 Overview
8.2 Market Evaluation Framework
8.3 Key Market Developments
8.3.1 Product Launches
8.3.2 Deals
8.3.3 Others
8.4 Market Share Analysis of Top Players
8.5 Historical Revenue Analysis
8.6 Company Evaluation Quadrant Overview
8.7 Company Evaluation Quadrant: Methodology and Definitions
8.7.1 Star
8.7.2 Emerging Leaders
8.7.3 Pervasive
8.7.4 Participant
8.8 Company Product Footprint Analysis
8.9 Company Market Ranking Analysis
8.10 Startup/SME Evaluation Matrix Methodology and Definitions
8.10.1 Progressive Companies
8.10.2 Responsive Companies
8.10.3 Dynamic Companies
8.10.4 Starting Blocks
9 Company Profiles
9.1 Major Players
9.1.1 Alstom
9.1.2 Cisco
9.1.3 Hitachi
9.1.4 Wabtec
9.1.5 Siemens
9.1.6 ABB
9.1.7 IBM
9.1.8 Huawei
9.1.9 Indra Sistemas
9.1.10 Honeywell
9.1.11 Thales
9.1.12 Advantech
9.1.13 Fujitsu
9.1.14 Toshiba
9.1.15 Moxa
9.1.16 Televic
9.1.17 Alcatel-Lucent Enterprise
9.2 Start-Up/SME Players
9.2.1 EKE-Electronics
9.2.2 Aitek S.P.A.
9.2.3 Uptake
9.2.4 Eurotech
9.2.5 Tego
9.2.6 Konux
9.2.7 Assetic
9.2.8 Machines With Vision
9.2.9 Delphisonic
10 Adjacent/Related Markets
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/hqseow
