A new market study, titled “Intelligent Railway Transport Market Research ” has been featured on Market Research Future.
Intelligent railway transport system market is expected to grow at CAGR of ~26.6% during the forecast period and expected to reach market size of USD ~90 Billion by the end of forecast period. The intelligent railway transport system market is gaining importance with the increase in adoption of intelligent railway transportation system by the public and private railway authorities all over the world. The increased need of surveillance of passengers for their safety and for providing them with convenient transportation facilities is driving the market. The market is gaining importance with its facility of providing real time information of the trains and related railway services. The users get benefit in terms of saving their time and availing cost effectiveness by implementation of this technology.
The railways is adopting various tools as a part of intelligent railways system such as the display screens on the platforms and in local & metro trains for providing information about the next stop. The implementation of intelligent railway transportation system helps in ensuring safe drive of trains even in adverse climatic conditions and prevents trains from accidents at railway crosses. The use of systems at the railway crossings for controlling the road traffic and preventing human accidents at rail crossings is also boosting the growth of the intelligent railway transport system markets.
Intelligent railway transport system market
The Global Intelligent railway transport system market has been segmented on the basis of Devices & Components, Services and solutions. Devices and components include Rail Sensors, Video Surveillance Cameras, Smart Cards, Networking & Connectivity Devices (Router, Wi-Fi, Switches, etc.) and Others (Multimedia Displays). Services include Professional Services, Cloud Services and Integration Services among others. Solutions comprises of Passenger Information System (PIS), Railway Traffic Management System (RTMS), Advanced Security Management System, Smart Ticketing System (STS), Rail Operations Management System, Rail Communication & Networking Systems and Others (Rail Analytics System and Freight Information System).
The prominent players in the market of Intelligent railway transport system market are ABB Group (Switzerland), Indra Sistemas, S.A. (Spain), Alstom S.A. (Saint-Ouen), Alcatel-Lucent S.A. (France), Bombardier Inc.(Canada), Huawei Technologies Co. Ltd. (China), Hitachi, Ltd. (Japan), Cisco Systems, Inc. (U.S.), Siemens AG (Munich), International Business Machines Corporation (U.S.), General Electric Company (U.S.), Ansaldo Signalling and Transportation Systems (Itlay) and among others.
Market Research Analysis:
Market Research Future Analysis shows that the carbon emission control has gained utmost importance in developing the railway intelligent transport system. The increasing awareness of the people towards environment protection is facilitating the growth of this market. The traditional railways used coal and were a major source of carbon generation in the environment. The increasing awareness towards global warming among all the nations worldwide has compelled the railway authorities to adopt the intelligent transportation systems. Therefore, the increased need of carbon control emission has facilitated the growth of this market.
Geographically, The Europe region has reached at the optimum level for this market as the region has a well-established railway system with effective implementation of intelligent transport systems. North America is expected to grow rapidly in the intelligent railway transport system market as with the existence of advanced intelligent transport system hardware providers and manufacturers of sensors and surveillance cameras among others. In Asia-pacific region, the government is taking charge of managing railways with the help of intelligent railway transport system. This government initiative of managing railways and initiating the metro rail projects in developing nations like India is contributing to the growth of intelligent railway transport system.
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