Global Smart Railway Market

Smart railways are defined as a technologically advanced solution and services which helps to manage railways operations via sharing of rail data across rail infrastructure components like control centers, ticketing department, freight, and passengers. It is an integration of the latest technologies such as IoT, machine learning, big data, cloud, analytics, global positioning systems, and artificial intelligence to make rail operations more efficient and accurate. These railways integrate information & communication technology to the railway infrastructure and provide new generation solutions and services for rail transportation and operations.

Market Drivers

The increase in integration of Internet of Things (IoT) technology in railway is one of the prominent factors which expected to drive the global smart railway market growth. The growing introduction of metro and high-speed rail projects, smart transportation, and smart cities across the globe will positively influence the market growth. Also, the rise in government support for the railways is propelling the global smart railway market growth. Besides, there is a raised population and change in lifestyle, the increase in concerns regarding safety and security among trotters and growing urbanization are some major driving factors contributing to the global smart railway market growth over the forecast period. Improving railway infrastructure with IoT and big data, government initiatives, and environmental awareness among transportation providers, and a high degree of technological advancements in railways are major market trends.

Market Restraint

The High initial cost of deploying the system in the rail transport is expected to hamper the global smart railway market growth. Installation of smart railway system requires huge investment from the government. Thus, lack of government initiatives in developing regions may limit the market growth.

Market Segmentation

The Global Smart Railway Market is segmented into system such as Passenger Information System, Smart Safety & & Security Monitoring System, Rail & Freight Operations Management System, Smart Ticketing System, Rail Analytics System, and Others. Further, market is segmented into offering type such as Services, Solutions, and Components & Devices.

Also, the Global Smart Railway Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as ABB Ltd, BOMBARDIER INC., Alstom, Siemens AG, IBM, Huawei Technologies Co., Ltd, Cisco Systems, Inc., Hitachi, Aitek S.P.A., etc.

Market Taxonomy

By System

• Passenger Information System
• Smart Safety & & Security Monitoring System
• Rail & Freight Operations Management System
• Smart Ticketing System
• Rail Analytics System
• Others

By Offering Type

• Services
• Solutions
• Components & Devices

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Smart Railway Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?