NEW YORK, Oct. 03, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, train control management system market is projected to reach $4.9 billion by 2023. The market is predominantly driven by rapid urbanization, increasing demand for safety and security in railway systems, infrastructural growth, and advancements in the rail technology.
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On the basis of component, the train control management system market has been categorized into vehicle control unit, mobile communication gateway, human–machine interface (HMI), and others. In terms of value, the category of vehicle control units held the largest market share in 2017 and is poised to continue dominating the market in the coming years as well. However, the fastest growth in the market during the forecast period is expected from the mobile communication gateway category. This can be attributed to enhanced safety and security, better operational efficiency, and on-board video surveillance facilitated by mobile communication gateway.
Browse report overview with 70 tables and 46 figures spread through 122 pages and detailed TOC on "Train Control Management System (TCMS) Market – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at: https://www.psmarketresearch.com/market-analysis/train-control-and-management-system-market
Based on network, the train control management system market has been categorized into multifunction vehicle bus (MVB), ethernet consist network (ECN), wired train bus (WTB), and others. Of these, WTB generated the largest revenue in the market in 2017, accounting for over 35% share. However, it is the ECN category that is expected to witness faster market growth, as compared to other categories, during the forecast period. This can be mainly attributed to the benefits offered by the ECN, such as reasonable ownership cost, efficient train traffic management through on-board network data transmission, and improved passenger safety.
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Globally, Europe led the train control management system market during the historical period, accounting for over 45% revenue in 2017. The region is expected to continue leading the market in the coming years as well. However, during the forecast period, the market is expected to witness the fastest growth in the Rest of the World (RoW) region, primarily due to the increasing urban population in the developing countries of the region, which, in turn, is generating the demand for rapid public transit systems.
Some of the major players operating in the train control management system market are Alstom S.A., Bombardier Inc., Toshiba Corporation, Siemens AG, Construcciones y Auxiliar de Ferrocarriles S.A., China Railway Signal & Communication Corporation Limited, and Knorr-Bremse AG.
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