Global Smart Railways Market – Industry Trends and Forecast to 2024

The Global Smart Railways Market accounted for USD 11.3 billion in 2016 growing at a CAGR of 15.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

 Market Definition: Global Smart Railways Market

The smart trains have gained reality due to advancement of technology. New IoT cases are possible to improve operational efficiency, passenger experience. Advent of smart cities and increased growth in demographic growth and hyper-urbanization may act as the major driver in the growth of smart trains market. On the other side, lack of ICT infrastructure and interoperability, and high initial cost of deployment may hamper the market.

Major market drivers & restraints: Global Smart Railways Market

Increased growth in demographic growth and hyper-urbanization
Advent of smart cities
Technological advancement
Government initiatives and partnership models
Emergence of IoT technology
Emerging trend of smart cities
Operational inefficiency
Lack of ICT infrastructure and interoperability
High initial cost of deployment

Market Segmentation: Global Smart Railways Market

The global smart railways market is segmented on the basis of solution into passenger information system, freight information system, advanced security monitoring system, rail communication and networking system, smart ticketing system, and rail analytics system. The passenger information system segment is further sub segmented into multimedia information and entertainment solutions, network connectivity solutions. The freight information system segment is further sub segmented into freight operation management solutions, and freight tracking solutions. The advanced security monitoring system segment is further sub segmented into video analytics, and integrated security systems. The rail analytics system segment is further sub segmented into ground-to-train communication solutions, and train-to-train communication solutions.

On the basis of component, the global smart railways market is segmented into video surveillance cameras, networking and connectivity devices, multimedia infotainment displays.

On the basis of service, the global smart railways market is segmented into professional services, and managed services.

On the basis of vertical, the global smart railways market is segmented into banking, financial services, and insurance, IT and telecom, government and defense, healthcare, research and academic, retail, energy, manufacturing, and others.

On the basis of geography, the global smart railways market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

Company Share Analysis: Global Smart Railways Market

The report for smart railways market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Global Smart Railways Market

Some of the major players of the global smart railways market are ALSTOM, Cisco Systems, Inc., General Electric, ABB, IBM Corporation, Hitachi, Ltd., Bombardier, Huawei Technologies Co., Ltd., Indra, Siemens AG, Nokia, Ansaldo STS, and others.

 Research Methodology: Global Smart Railways Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Smart Railways Market – Industry Trends and Forecast to 2024

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