Smart Railways Market to Reach US$ 159.6 Bn by 2025
Smart railways comprise solutions (software), devices & components (hardware) and services (professional, cloud and integration), which redefine and make intelligent use of rail assets and rail network communication by combining Information and Communication Technology (ICT) with smart transportation systems that facilitate connected, rapid, efficient and safer mode of travelling for commuters. In an era of digital communication, the gap between the physical and digital world is fading swiftly and being replaced with an entirely new mode in which the smart rail functions.
In this report, Future Market Insights presents a 10-year forecast of the global smart railways market between 2015 and 2025. The report considers 2014 as the base year and provides data for the following 12 months. In terms of revenue, the smart railways market is expected to register a CAGR of 22.3% during the forecast period.
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This research report provides a detailed market analysis, identifying all the primary forces driving the rapid growth of the smart railways market across the concerned regions. This study delivers insights about market dynamics across the seven key regions, which are expected to influence the current nature and future status of the smart railways market during the forecast period (2015-2025).
Introduction of metro and high speed rail projects, smart cities and smart transportation across the globe and increasing government support for railways are among the major factors driving growth of the global smart railways market. Furthermore, growing urbanisation & population worldwide and increasing safety and security concerns among travellers are some of the major factors contributing to growth of the global smart railways market.
The report includes FMI’s analysis of key trends, drivers and restraints influencing growth of the global smart railways market. A weighted average model is leveraged to identify the impact of the key growth drivers and restraints across the concerned regions in the market, in order to help clients in framing accurate business strategies.
The global smart railways market is segmented on the basis of offering type and region. On the basis of offering type, the smart railways market is segmented into devices and components, solutions and services. The report offers a detailed analysis of each of these segments in terms of market size (US$ Bn). Key regions assessed in the report are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa.
Given the ever-fluctuating global economy, the report not only forecasts the market on the basis of CAGR, but also analyses the impact of key parameters during each year of the forecast period. This helps the clients to understand the predictability of the market and to identify the right opportunities in the global market during the forecast period. Also, a noteworthy feature of this report is the analysis of all vital segments in terms of absolute dollar opportunity, which is critical for assessing the level of revenue opportunity in the market.
In the final section of the report, a competitive landscape of the market is included in order to present the clients with a dashboard view, based on core business segments, revenue share and key growth strategy. This section is important for gleaning insights about participants in the market’s ecosystem. Additionally, it enables identification and evaluation of key competitors based on the in-depth assessment of their capabilities and successes in the marketplace. The report offers comprehensive profiles of the providers in order to evaluate their long and short-term strategies related to products across various regions, key offerings, and recent developments in the smart railways space. Key competitors covered in this report include Huawei Technologies Co. Ltd., ABB Group, Indra Sistemas, S.A., Bombardier Inc., Hitachi, Ltd., Cisco Systems, Inc., Alstom S.A., Siemens AG, IBM Corporation, General Electric Co., Alcatel-Lucent S.A. and Ansaldo STS.
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In order to evaluate the smart railways market size, revenue generated by smart railways manufacturers and providers has been taken into consideration. Market estimates have been analysed keeping in mind various factors, such as technological, environmental, economical, legal and social. In order to provide accurate market forecast statistics, the current market was sized as it forms the basis of how the smart railways market would perform during the forecast period. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of processes, namely secondary research, primary research and data from paid database. Primary research represents the bulk of our research efforts, supplemented by extensive secondary research. Secondary research includes product literature of key players, annual reports, press releases and relevant documents, recent trade journals, related technical write-ups, Internet sources, trade associations, agencies and statistical data from government websites. This collated data from primary and secondary sources is then analysed by the in-house research panel using market research statistical tools, which equates to the most appropriate methodology to provide a quality market research report.
Key Segments Covered
- By Offering Type
- Devices & Components
- Rail Sensors
- Video Surveillance Cameras
- Smart Cards
- Networking & Connectivity Devices (Router, Wi-Fi, Switches, etc.)
- Others (Multimedia Displays)
- Professional Services
- Cloud Services
- Integration Services
- Passenger Information System (PIS)
- Railway Traffic Management System (RTMS)
- Advanced Security Management System
- Smart Ticketing System (STS)
- Rail Operations Management System
- Rail Communication & Networking Systems
- Others (Rail Analytics System and Freight Information System)
- Devices & Components
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- Huawei Technologies Co. Ltd.
- ABB Group
- Indra Sistemas, S.A.
- Bombardier Inc.
- Hitachi, Ltd.
- Cisco Systems, Inc.
- Alstom S.A.
- Siemens AG
- IBM Corporation
- General Electric Co.
- Alcatel-Lucent S.A.
- Ansaldo STS