Dublin, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The "Digital Railway Market by Offering (Solutions (Remote Monitoring, Network Management, Security, Analytics) and Services), Application (Rail Operations Management, Passenger Information System, and Asset Management) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global digital railway market is expected to grow from USD 63.0 billion in 2022 to USD 100.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.
By Solutions, the Network Management segment to grow at the second highest market share during the forecast period
Domestic and cross-border rail traffic for upcoming needs should be operationally safe, efficient, and cost-effective. Hence, there is a demand for network management to achieve efficiency and increased reliability in operations. Network management solutions are important for disaster management and for minimizing loss. The solution collects real-time data from signals throughout the network. This data can be analyzed to provide simultaneous performance measures, travel times and schedules, and potential intersection delays and stoppages.
By Application, the asset management segment to hold the second highest market share during the forecast period
An asset management system is a safe, reliable, substantial, and efficient approach to managing the entire rail infrastructure. It includes route plans that involve activities, resources, and timescales for interventions on the infrastructure; route asset strategies to manage the asset involved in a specific route; and delivery schedules/programs that form detailed plans to optimize the delivery of renewals, maintenance, and enhancement. The rail asset management system assists freight managers, passengers, rail operators, and infrastructure managers in addressing issues, such as the improvement in service availability. It also manages performance and utilization for mobile, fixed, and linear assets; increases reliability and punctuality, reduces service failures; and minimizes asset costs.
By Services, the system integration & deployment service providers segment is expected to grow at the highest market share during the forecast period
System integration and deployment services help identify the need for adaptation or upgradation of railway IT infrastructure to support the digital railway software in the existing infrastructure and avoid the restriction of such software. These services help speed deployment, save time and costs, enable efficient working, and minimize deployment-related disruptions. System integration and deployment services begin with collecting customers' requirements and then deploying, integrating, testing, and rolling out solutions. System integration and deployment service providers help end-users integrate smart infrastructure solutions with their existing infrastructure.
Market Dynamics
Drivers
- Surge in Passenger Numbers Over the Past Few Years
- Rising Adoption of IoT in Railways
- Advancements in Communication Technology
Restraints
- Lack of Robust Railway Infrastructure in Underdeveloped Countries
- High Initial Cost of Deployment
Opportunities
- Rising Need for Advanced Transportation Infrastructure
- Autonomous Train to be Significant Opportunity for Digital Railway Solution Providers
- Emerging Trend of Smart Cities
Challenges
- Increased Threat of Cyberattacks as Railway System Becomes Digital
- Lack of IT Infrastructure and Skilled Personnel
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Digital Railway Market, by Solution
7 Digital Railway Market, by Service
8 Digital Railway Market, by Application
9 Digital Railway Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent/Related Markets
13 Appendix
Companies Mentioned
- Alstom
- ABB
- Atkins
- Assetic
- Bombardier
- Cisco
- Dxc
- Delphisonic
- Fujitsu
- Hitachi
- Huawei
- IBM
- Indra
- Konux
- Machines with Vision
- Nokia
- Oxplus
- Passio Technologies
- RP
- Siemens
- Simpleway
- Thales
- Toshiba
- Tego
- Uptake
- Wabtec
- Zedas
For more information about this report visit https://www.researchandmarkets.com/r/kuwqq0
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