Global Smart Railways Market (2021-2026) by Type, Component, Services, Solutions, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Smart Railways Market is estimated to be USD 24.4 Bn in 2021 and is expected to reach USD 45.96 Bn by 2026, growing at a CAGR of 13.5%.





The smart railway shows the potential of improving traditional railway systems with the development of IoT, Cloud computing, big data, artificial intelligence, satellite positioning, navigation, etc. The infrastructure comprises various components, including multimedia infotainment displays, video surveillance cameras, and networking and connectivity devices at stations. The rail operators mainly use Global System for Mobile Communications-Railways (GSM-R) for voice and data communications.

The market is driven by the increasing importance of sustainability, government regulations, the growing importance of high-quality infrastructure for smart cities, the incredible pace of telecommunications and technological change, and the need for mobility. The introduction of metro rail and high-speed rail projects in smart cities are the factors fueling the growth of the market.

The high initial cost of deployment and lack of technology infrastructure & interoperability restrains the smart railways market. The operational inefficiency is hindering the growth of the market. The changes in ridership outlook and entering into contracts/agreements with rail operators for business expansion are expected to offer opportunities for the expansion of the market in the near future.

Market Dynamics

Drivers

• High Demographic Growth and Hyper-Urbanization
• Technological Advancement Targeted Toward Enhancement of Customer Experience
• Government Initiatives for Smart Cities and PPP Working Models
• Adoption of IoT as well as Automation Technologies to Enhance Optimization
• Emerging Trend of Smart Cities
• Growing Demand for Cloud-Based Services

Restraints

• High Initial Cost of Deployment
• Lack of Technology Infrastructure and Interoperability

Opportunities

• The emergence of Autonomous Trains

Challenges

• Integration Complexities of Legacy Systems and Networks

Segments Covered

Based on Type, the market is segmented into Station type and Onboard train type. Stations segment is expected to grow at a higher rate due to improved accessibility of information, sustainable railway station programs, security at stations, long-term development, and an increase in the information technology at the stations. Also, better passenger amenities and IT infrastructure to enhance the traveling experience of the customers leads the growth in the segment.

Based on Component, the global smart railway market is segmented into networking and connectivity devices, control and maintenance, video surveillance cameras, multimedia infotainment devices. The Video Surveillance Camera is anticipated to behold the highest growth rate. It provides real-time alerts about suspicious activities happening at the stations. It offers high resolutions cameras that give clear image clarity, improved video image, and minimizes the criminal activities at the stations.

Based on Services, the Consulting Services segment is expected to generate the highest market share since they are required to maintain communications networks to meet various requirements such as safe operation, security, and reliable scheduling of trains.

Based on Solutions, the Rail Communication and Networking System is estimated to hold the largest market size since this system plays a major role in providing networking solutions at the stations. It also helps with booking online tickets and providing real-time information about the location of the train. The growth in technology enhances the attractiveness of mobile internet connectivity based applications and solutions, such as passenger connectivity, GPS, and navigation.

Based on Region, Europe is estimated to hold the largest market size in the smart railways market. Countries from Western Europe, such as the UK, France, and Germany, have well-established railway infrastructure. Railway operators in the region use the most advanced smart railway solutions. European countries have been investing heavily in infrastructure to modernize and upgrade the existing rail infrastructure.

The Global Smart Railways Market is segmented based on Type, Component, Services, Solutions, and Geography.

Global Smart Railways Market, By Type

• Introduction
• Station Type
• On-Board Trains

Global Smart Railways Market, By Component

• Introduction
• Networking & Connectivity Devices
• Control and Maintenance
• Video Surveillance Cameras
• Multimedia Infotainment Devices
• Others

Global Smart Railways Market, By Services

• Introduction
• Professional Services
• Consulting
• System Integration
• Support and maintenance
• Managed Services

Global Smart Railways Market, By Solutions

• Introduction
• Smart Ticketing System
• Rail Communication & Networking System
• Train-to-train Solution for Communication
• Ground-to-train Solution for Communication
• Advanced Security Monitoring System
• Integrated Security Solution
• Video Analytics
• Passenger Information System
• Network Connectivity Solutions
• Multimedia Information & Entertainment Solution
• Rail Analytics System
• Freight Information System
• Freight Operation Management Solution
• Freight Tracking Solution

Global Smart Railways Market, By Geography

• Introduction
• North America
• South America
• Europe
• Asia Pacific
• Rest of the World

Company Profiles

Some of the companies covered in this report are Alstom SA, Cisco Systems Inc, General Electric, IBM Corporation, Hitachi Ltd, Huawei Technologies Co. Ltd, Siemens AG, Bombardier, Inc., Indra Sistemas SA, ABB Ltd, Teleste, Thales Group, Aitek S.P.A, EKE-Electronics, Moxa, Alcatel-Lucent Enterprises and Fujitsu.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance Score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Smart Railways Market.
• The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market