Report : Railway Management System Market to 2027 - Global Analysis and Forecasts by Solution (Traffic Management System, Operations Management System, Railway Reservation System, Passenger Information System, Maintenance Management System, and Others); Services (Managed Services and Professional Services); Deployment Type (On-premise and Cloud)
Railway Management System Market to 2027 by Solution (Traffic Management System, Operations Management System, Railway Reservation System, Passenger Information System, Maintenance Management System, and Others); Services (Managed Services and Professional Services); Deployment Type (On-premise and Cloud)
Hyper-urbanization, advanced technologies and high demographic growth, are the major drivers which are propelling railway management systems market growth. Whereas, ineffective management of maintenance and operating costs may act as key challenges for the market growth. However, rising demand for multimodal transport, and road congestion issues owing to rapid urbanization are expected to generate significant opportunities for the railway management system market. The railway systems themselves have experienced an intense era of modernization through complex automation developments including, onboard communication systems and driverless trains.
The intensifying trend of building smart cities and smart transportation networks denotes a burgeoning impact on the market for railway management system as most of the advancements are revolving around the public transportation networks. These systems aid in implementation of advanced data and technology in order to improve the sustainability, mobility, and efficiency of the railway networks. Recently, the Indian Ministry of Railways had entered into a strategic alliance with the Ministry of Urban Development to ensure development of smart stations as a part of India’s ongoing mission of Smart Cities. Under this, there are over 400 stations in India being redeveloped for providing advanced facilities and easier access.
The railway management system market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, MEA, and SAM. The Europe region holds the highest market share, whereas the Asia Pacific is projected to be the fastest-growing region as well in the coming years. Huge R&D investments have been witnessed by the railway supply industry in Europe in recent times. Further, a large volume of railway manufacturing also provides an opportunity platform for the implementations of railway management systems. The mobility of the future is expected to be automated and networked. This is also applicable for the logistics sector. Owing to this, several logistics providers are making their processes even safer, more environmentally friendly, and more efficient, all along the value chain. DB Schenker introduced a new solution connecting Southeast Asia to Europe, which brings aspects of international rail freight services and road services together. The above-mentioned growing industries have the potential to boost the business of the railway management system market.
The railway management system market by the solution is segmented into the traffic management system, railway reservation system, operations management system, passenger information system, maintenance management system, and others. The traffic management system holds a significant share in the market in 2018 and the maintenance management system is expected to be the fastest-growing solution during the forecast period. Rail traffic management comprises traffic control, signaling, routing, and train schedules. A traffic management system creates the staff and train roasters that are based on traffic situations. It also provides the actual diagrams for daily operations and delivers this information to the operating companies and the operation management system. A maintenance management system offers the station staff, train staff, and the maintenance staff with crucial working information related to the train operation status and the real-time diagrams. The Maintenance Management Information System (MMIS) is deployed as a system for asset information registration & management.
The major players operating in the market for the railway management system market are Bombardier, Inc, DXC Technology Company, EKE-Electronics Ltd, General Electric Company, Hitachi, Ltd., Huawei Technologies Co., Ltd., Indra Sistemas S.A., OptaSense, Siemens AG, and Thales Group among others.
Railway Management System Market - Geographic Breakdown, 2018
The report segments the global railway management system market as follows:
Global Railway Management System Market – By Solution
Global Railway Management System Market – By Services
Global Railway Management System Market – By Geography
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