The global railway management system market is expected to post a CAGR
of over 9% during the period 2019-2023, according to the latest market
research report by Technavio.
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The global railway management system market is expected to post a CAGR of over 9% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the global
railway management system market is the expansion of urban mass
transit railway infrastructure. Urban rail transit systems are
short-length passenger rail systems that are used for transportation
within urban or suburban regions and to ease congestion with the growing
urbanization. For instance, countries in Europe and in Asia are
extending their metro transit services to meet with the rising demand.
Though these systems help in easing the traffic, they require highly
advanced management systems to carry out their day-to-day activities.
Therefore, railway management systems offer efficient control over
different railway network lines and thus help in the management of
railway operations. Also, the demand for railway management systems is
expected to grow with several new future urban mass transit railway
projects during the forecast period.
As per Technavio, the increasing use of automation and IoT in railways
will have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global railway management
system market research report also analyzes other important trends and
market drivers that will affect market growth over 2019-2023.
Global railway management system market:
Increasing use of automation and IoT in railways
Automation and loT technologies are gradually finding adoption in
railway systems, where they are being used to control and manage
technology and communications systems. In the future, the railway
industry is expected to rely on these smart transportation systems that
leverage a combination of technology, planning, and greater intelligence
to harness data, which will be used to provide better service and safer
travel. IoT systems combined with big data analytics can also aid
railway operators to identify components that are performing feebly and
are likely to fall, thus, reducing breakdown during operations, network
downtime, and customer dissatisfaction.
“Along with the increasing use of automation and loT technologies,
the rise in adoption of ERTMS is another factor that is trending in the
market. The ERTMS is a control, command, signaling, and communication
system for railway management and safe regulation, which ensures
that the train does not exceed the safe speed and distance.
Consequently, it opens up opportunities for vendors in the railway
management system market by offering a one-stop solution, thereby
resulting in the growth of the global railway management system market,” says
a senior analyst at Technavio.
Global railway management system market:
This market research report segments the global railway management
system market by product (control system and information system) and
geographical regions (APAC, Europe, North America, MEA, and South
The APAC region led the market in 2018, followed by Europe, North
America, MEA, and South America, respectively. During the forecast
period, the APAC region is expected to continue its leadership as well
as register the highest incremental growth due to the modernization of
the existing national railway networks and construction of new urban
railway transit networks.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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