HomeBusinessSmart Railways Market Experience a Tremendous Growth (USD 27.31 billion ) in Near Future | Alstom SA, Cisco Systems, General Electric, IBM Corporation
Smart Railways Market Experience a Tremendous Growth (USD 27.31 billion ) in Near Future | Alstom SA, Cisco Systems, General Electric, IBM Corporation
January 24, 2020
“Global Smart Railways Market Research Report – Forecast to 2024” Market latest research study released by Report Ocean provides an in-depth assessment of the SMART RAILWAYS including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies. The latest research study provides market opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support for business intelligence.
The global smart railways market is expected to reach USD 27.31 billion by 2024.
Global SMART RAILWAYS Market by by Type, Method, by Application, and Regions – Americas, Europe, Asia-Pacific and Middle East & Africa and Forecast till 2023
The key players in the global smart railways market are Alstom SA (France), Cisco Systems, Inc (US), General Electric (US), IBM Corporation (US), Hitachi Limited (Japan), Huawei Technologies Co. Ltd (China), Siemens AG (Germany), Bombardier, Inc (Canada), Indra Sistemas SA (Spain), Teleste (Finland).
> The global smart railways market is expected to reach USD 27.31 billion by 2024.
> Stations are dominating the smart railways market by type. It has generated market revenue of USD 8.29 billion in 2017, growing with 12.95% CAGR. Whereas, onboard trains are projected to be the fastest growing segment with 14.43% CAGR during the forecast period 2018-2024.
> By component, the smart railways market was dominated by video surveillance cameras in 2017, generating the highest market revenue of USD 4.47 billion and projected to grow with 12.76% CAGR. Whereas multimedia infotainment displays are the fastest growing market growing with 15.15% CAGR during the forecast period 2018?-2024.
> Smart railways market, by services is dominated by consulting services in 2017. It has generated the highest market value of USD 5.17 billion in 2017, growing with 14.31% CAGR. System integration & deployment and support & maintenance market are projected to grow with 13.07% and 11.88% CAGR respectively.
> Smart railways market, by solution is dominated by rail communication & networking system in 2017, generating the highest market value of USD 3.16 billion and growing with 13.27% CAGR. Whereas, rail analytics system is projected to grow with the fastest growing CAGR of 17.03%.
> The market in Europe is projected to be the highest revenue generating region, and Asia-Pacific is expected to be the fastest growing market during the forecast period.
Increasing demand for cloud-based services, increasing rate of hyper-urbanization, and adoption of the Internet of Things are some of the major factors driving the market of smart railways globally. Smart railways technology offers new generation solutions, services and modern transportation with the help of information and communication technology. Advancements in networking, artificial intelligence, and big data analytics have set the pace for smart railways market growth.
The market has been segmented based on type, component, services, solution, and region.
By type, the market has been divided into stations and onboard trains.
By component, the market is sub-segmented into multimedia infotainment devices, video surveillance cameras, and networking & connectivity devices.
By services, the market is sub-segmented into system integration & deployment, consulting services, and support & maintenance.
By solution, the market is sub-segmented into advanced security monitoring system, passenger information system, rail communication & networking system, freight information system, rail analytics system, and smart ticketing systems.
Furthermore, the years considered for the study are as follows:
Historical year – 2013-2017
Base year – 2018
Forecast period** – 2019 to 2023 [** unless otherwise stated]
Europe is expected to be the highest revenue generating region of USD 14.35 billion during the forecast period. The adoption of the Internet of Things technology, faster economic growth, and huge investments on smart railways projects by the government is poised to drive the growth of smart railways in the region. Asia-Pacific is expected to be the fastest growing region with 15.31% CAGR during the forecast period owing to increasing regional demographics and changing traveling demand are boosting the market growth in this region.
The market research study offers in-depth regional analysis along with the current market scenarios. The major regions analyzed in the study are:
Major Highlights of TOC:
Chapter One: SMART RAILWAYS Market Industry Overview
1.1 SMART RAILWAYS Industry
1.1.2 Products of Major Companies
1.2 SMART RAILWAYS Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Distribution
1.3 Price & Cost Overview
Chapter Three: SMART RAILWAYS Market by Type
3.1 By Type
3.1.1 TYPE 1
3.1.2 TYPE 2
3.2 SMART RAILWAYS Market Size by Type
3.3 SMART RAILWAYS Market Forecast by Type
Chapter Four: Major Region of SMART RAILWAYS Market
4.1 SMART RAILWAYS Sales
4.2 SMART RAILWAYS Revenue & market share
Chapter Five: Major Companies List
Chapter Six: Conclusion
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