Railway Management System Market to Grow at 7.8% CAGR by 2030
The increasing demand of travel within the country, growth in tourism industry, expansion of railway networks, adoption of AI and cloud-based service has led the global railway management systems market to grow.
Railway Management System Market was valued at USD 37.4 billion in 2019 and is projected to reach 85.44 billion by 2030, growing at a CAGR of 7.8% from 2020 to 2030.
Railway management system includes wide range of tools and services that enable better management of the railways. Factors driving the railway management market are increasing demand of travel within the country, expansion of railway networks, better operations & control. Railway management system also facilitates robust traffic planning, efficient management of energy, staff & passenger information, data analytics, and many others. However, high initial investment is expected to inhibit the growth of railway management system market.
The global railway management system market is segmented based on component and geography. On the basis of component, it is bifurcated into solution and services. On the basis of solution, it is categorized into rail traffic management system, rail asset management system, rail operation management system, rail control system, and rail maintenance management system. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and RoW.
Europe holds the largest market share owing to increased adoption of advanced technology and growth in its tourism industry. Also, there is no cross-border travel restriction among countries within the European region. This is further expected to augment the growth of railway management system market in this region.
Browse Key Industry insights from the report, “Railway Management System Market by Component (Solution and Services) and by Geography (North America, Europe, Asia-Pacific and Rest of the World [RoW]) - Global Opportunity Analysis and Industry Forecast, 2020-2030.”
The key players operating in the global railway management system industry include Alstom SA, Cisco Systems, Inc., General Electric, ABB Limited, IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Indra Sistemas SA, Siemens AG, and Alcatel-Lucent.
Key Insights from the Railway Management System Market Report:
In-depth analysis of the global railway management system industry and dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2020 to 2030 is provided to assist the strategists and stakeholders to capitalize on prevailing opportunities.
Porters five forces analysis examines the competitive structure of the railway management system market and provides a clear understanding of the factors that influence the market entry and expansion.
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