Railway Management System Market Statistics 2019 | Trend & Growth Forecast To 2024

The global railway management system market is projected to record significant gains in the forthcoming years. According to Global Market Insights Inc., the increasing rate of IoT adoption across the global rail industry is projected to impel the remuneration scale of railway management system market, slated to cross a valuation of $64 billion by 2024.

According to a 2018 report by The Economic Times, under the Indian Government’s smart city initiative the total amount of investment proposed across 4,500 projects in over 99 cities was approximately INR 203,979 crores with a large chunk of it being utilized in development of smart stations. Attributing to these factors, the APAC railway management system market is anticipated to register a CAGR of 14% over 2018-2024.

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Europe dominates the railway management system market with a revenue of USD 13.41 billion in 2017. Europe is the chief accessible railway market worldwide with the rail operators residing in this region making strategic investments for automating their railway solutions. Railway operators are also focusing on working towards the renewal of high-speed trains as well as improving the railway infrastructure and urban transportation systems. Furthermore, signaling projects are also being initiated in various countries including Poland, Netherlands, Hungry and Portugal driving the market growth.

As railway systems work on adopting IoT and bringing in an overall digital transformation to the market, system integration & deployment services are expected to garner intense momentum, as railways replace conventional network systems with new & innovative IP-based technologies. Railway management system market size from system integration and deployment services was pegged at around $1 billion in 2017, and the industry is projected to acquire significant gains from these services in the years to come.

The training and consulting service are projected to grow at a steady rate in the railway management system market. Various countries still in the development phase require efficient training and consulting services to implement the advanced railway management solutions contributing to their business profitability. These service providers assist in maximizing security and efficiency by providing effective consulting and safety training transforming the way rail operators carry out their business.

Browse key industry insights spread across 340 pages with 336 market data tables & 30 figures & charts from the report, “Railway Management System Market” in detail along with the table of contents
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The leading players functioning in the railway management system market include Cisco, Nokia, Hitachi, IBM, Huawei, Alstom, ABB, Atos, Eurotech, Bombardier, Indra, Tech Mahindra, Thales, Toshiba, Trimble, Siemens, Sierra, Optasense, Frequentis, Amadeus, Ansaldo, General Electric and EKE Electronics. The companies are entering into strategic partnerships to expand their business offerings and serve a larger customer base

Major Table of Content:-

Chapter 1.   Methodology & Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definition

1.1.6. Methodology and forecast parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary   Paid sources   Public sources

Chapter 2.   Executive Summary

2.1.  Railway management system industry 360º synopsis, 2013- 2024

2.1.1. Regional trends

2.1.2. Component trends   Solution trends   Service trends

2.1.3. Deployment model trends

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.