The global Railway Management System Market size is anticipated to grow from $40.8 billion in 2020 to $61.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.7% forecast period.
Railway management system solutions have spurred tremendous growth opportunities for technology vendors and various associated service providers. Factors contributing to the high growth rate in these regions are the increasing need for efficient rail operations, rising PPP model and government initiatives, growing population and hyper-urbanization, and increasing congestion due to aging railway infrastructure. These factors are also expected to shape the future of the global Railway Management System Market.
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The solutions segment to hold a larger market size during the forecast period
The solutions segment of the Railway Management System Market is projected to hold a larger market size during the forecast period. The solutions segment in the Railway Management System Market is further segmented into rail asset management, track monitoring, revenue management, intelligent signaling system, route planning & scheduling, ptc, cbtc, pis, security & analytics. The incorporation of various railway management system solutions for the railway industry has become necessary for developing and establishing advanced and automated railway infrastructures.
By services, the Support and Maintenance segment to record a highest growth rate during the forecast period
The support and maintenance services include 24/7 troubleshooting assistance, upgradation of the existing freight management system solution, problem-solving, repairing, replacing failure components, proactive services, technical support by technicians, and test scenario management. The support and maintenance segment also includes facility inspection and training, and round-the-clock support for railway management system solutions. These services are widely adopted by organizations to avoid business threats and safeguard devices.
By region, Europe to account for the largest market size during the forecast period
Countries from Western Europe, such as the UK, France, and Germany, have well-established railway infrastructure, and various railway operators in this region use some advanced railway management system solutions. European countries have been investing majorly in the modernization and upgradation of their existing rail infrastructure. Social and trade agreements among the EU countries have promoted large-scale, cross-border trade, and passenger traffic in Europe. The high growth of the adoption of railway management system solutions is expected in the region, especially in communication technology, as the European Telecommunications Standards Institute (ETSI) has formed a separate committee to focus on the Machine-to-Machine (M2M) communication privacy standardization and high trading standard.
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Market Players
Major vendors in the Railway Management System Market include Siemens (Germany), Cisco (US), Alstom (France), Hitachi (Japan), Wabtec (US), Trimble (US), Atkins (UK), Uptake (US), Accenture (Ireland), Capgemini (France), Amadeus (Spain), Advantech (Waiwan), Thales Group (France), Eurotech (Italy), and Frequentis (Austria).
Siemens is a leading vendor in the railway management system market. The company offers rail, road, and intermodal solutions for enhancing the existing transportation systems under the Siemens Mobility division. Siemens offers a robust solution portfolio for railway operations. In the railway management system market, the company offers its rail mobility solutions for passenger coaches and rail electrification. Railway offerings under the mobility division include a full range of rail vehicles for regional, intercity, and high-speed services; signal and control technologies for rail-based passenger and freight traffic; electrification solutions for rail traffic; and the maintenance and service of rolling stock and infrastructure. Siemens announced a partnership with ARM, a leading provider of automotive IP and software. The company hopes to achieve active-safety, advanced driver assistance, in-vehicle infotainment, and self-driving vehicles.
Cisco is a global manufacturer and seller of Internet Protocol (IP)-based networking products related to IT and communication. The company has extensive offerings for railways and offers Cisco Connected Rail, a comprehensive product portfolio, which has the base of IoT for the railroad industry. Cisco’s product portfolio offers benefits, such as modernizing the network of railroads, enhancing security measures, lowering expenses, and giving a connected experience to passengers. Cisco seeks to continuously upgrade its product portfolio by acquiring other technology companies. For instance, the company acquired Fluidmesh Networks, a leading enabler of outdoor and large-scale applications of IoT and industrial automation. This acquisition would help the company strengthen its IoT requirements in the railway management system market.
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