Railway Management System Market in APAC Region is Projected to Register CAGR of 14% By 2024

The Asia Pacific railway management system market is projected to witness exponential growth in the years to come, primarily powered by the surging number of strategic initiatives adopted by regional governments to up the economic ante of the continent. That said, the increasing GDP of the Asian nations and the vast majority of smart city initiatives that typically revolve around the region’s public transportation networks are also expected to boost APAC railway management system industry.

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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The growing prominence of IoT & its intense adoption in the railways prompted by government initiatives are driving railway management system market lately. The increased IoT adoption rate can be aptly credited to the technology’s ability of providing rail operators with precise information on the train’s location with regards to other trains in its vicinity, facilitating increased passenger safety. The system is also capable of regulating the locomotive’s speed automatically based upon the real-time information delivered by the IoT system, significantly reducing the probability of collisions, further fueling the adoption of IoT, subsequently impelling the global railway management system market size.

Driven by the railway authorities’ increased focus on facilitating a more enhanced customer experience, railways are also deploying a number of digital technologies and services to provide more value-added services to the passengers. This has indeed propelled the safety, reliability, efficiency and overall performance of the railway services, fueling the railway management system market trends.

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Driven by the increasing level of competition in the industry coupled with rising passenger expectations, the Passenger Information System (PIS) solution holds the largest growth potential in the global railway management system market. The growth of this segment can also be aptly credited to the high level of urbanization coupled with the increased use of smartphones and rapid evolution of technologies.

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.

Some Point from Table of Contents:

Data Tables:

TABLE 1    Railway management system industry 360º synopsis, 2013 – 2024

TABLE 2    Railway management system industry estimates and forecast by region, 2013 – 2017 (USD Billion)

TABLE 3    Railway management system industry estimates and forecast by region, 2018 – 2024 (USD Billion)

TABLE 4    Railway management system market estimates and forecast by component, 2013 – 2017 (USD Billion)

TABLE 5    Railway management system market estimates and forecast by component, 2018 – 2024 (USD Billion)

TABLE 6    Railway management system industry estimates and forecast by solution, 2013 – 2017 (USD Billion)

TABLE 7    Railway management system industry estimates and forecast by service, 2018 – 2024 (USD Billion)

TABLE 8    Railway management system industry estimates and forecast by deployment model, 2013 – 2017 (USD Billion)

TABLE 9    Railway management system market estimates and forecast by deployment model, 2018 – 2024 (USD Billion)

TABLE 10    Industry impact forces

TABLE 11    Rail operation management system market estimates and forecast, 2013 – 2017(USD Billion)

TABLE 12    Rail operation management system industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 13    Facility management solution market estimates and forecast, 2013 – 2017(USD Billion)

TABLE 14    Facility management solution industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 15    Revenue management solution industry estimates and forecast, 2013 – 2017(USD Billion)

TABLE 16    Revenue management solution industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 17    Ticketing management solution industry estimates and forecast, 2013 – 2017(USD Billion)

TABLE 18    Ticketing management solution industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 19    Workforce management solution industry estimates and forecast, 2013 – 2017(USD Billion)

TABLE 20    Workforce management solution industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 21    Rail automation management solution industry estimates and forecast, 2013 – 2017(USD Billion)

TABLE 22    Rail automation solution industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 23    Rail traffic management system market estimates and forecast, 2013 – 2017(USD Billion)

TABLE 24    Rail traffic management system market estimates and forecast, 2018 – 2024(USD Billion)

TABLE 25    Intelligent signaling solution market estimates and forecast, 2013 – 2017(USD Billion)

TABLE 26    Intelligent signaling solution industry estimates and forecast, 2018 – 2024(USD Billion)

TABLE 27    Real-time train planning and route scheduling solution market estimates and forecast, 2013 – 2017(USD Billion)

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