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Rising government support for smart railways to drive the growth of smart railways market in future scrutinized in new research

Rising government support for smart railways to drive the growth of smart railways market in future scrutinized in new research

Global smart railways market is expected to flourish at a significant CAGR of 23.0% during the forecast period.

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. The market of rail sensors is expected to get bolstered from increasing fleet of locomotives in railway sectors in the developed and developing countries. For instance, government of India awarded a contract worth USD 3.5 Billion to Alstom and General Electric Co.

(GE) in 2015. Under this contract, Alstom and GE are directed to supply 801 double section electric locomotives to Indian Railways for the purpose of freight transport during 2018-2028.

Global smart railways market is expected to flourish at a significant CAGR of 23.0% during the forecast period.

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Moreover, the global smart railways market was valued at 20.2 Billion in 2015. The global smart railways market is likely to get escalated from some of the major factors including up-surged rail passenger and freight traffic, expansion of rail infrastructure and formulation of favorable government regulations regarding implementation of smart and safer technologies in trains in coming 5-6 years.

The passenger information system segment by solutions is estimated to register a significant CAGR during the forecast period. Moreover, the passenger car segment is expected to account for the largest share of revenue across the globe.

Factors such as growth of global population and expansion of transport facilities across the globe are triggering the demand for effective passenger information system. Moreover, the future of passenger information system market is expected to expand by rising inclination of most of the providers of PIS solutions such as Siemens, GE Transportations, Cisco and TE Connectivity to invest on incorporation of PIS systems in rails and buses.

Increasing Concerns for Passenger Safety and Security

Incidents of thefts, murders, terrorist attacks and other criminal activities inside trains and at platforms have increased over past few years. This in-turn has raised safety concerns among passengers and rail authorities.

As a result, emphasis is now being laid on enhancing the security of rail networks by implementing smart and advanced security solutions including sensors, video surveillance cameras and other solutions. Such efforts to integrate smart security devices with railways are believed to garner the growth of global smart railways in coming 5-6 years.

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Rapid Expansion of Population

Global population is set for an explosion over next 10-12 years. Growth in the population is likely soar the passenger traffic in transport sectors.

Expansion of passenger traffic in transport facilities such as rails, buses and airplanes, is believed to swell the development of new smart transport facilities, which is likely to drive the growth of global smart railways market over the forecast period i.e. 2015-2021.

However, high security and maintenance cost requirement in smart railways coupled with security threats related to smart rail devices is expected to dampen the growth of global smart rail market in future.

The report titled Global Smart Railways Market Analysis & Opportunity Outlook 2021delivers detailed overview of the global smart railways market in terms of market segmentation by offerings and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global smart railways market which includes company profiling of ABB Ltd., Alcatel-Lucent Enterprise, Alstom SA, Ansaldo STS, Bombardier Inc., Cisco Systems Inc., General Electric Company, Hitachi Ltd., Huawei Technologies CO. Ltd. and Siemens AG.  The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global smart railways market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment.

We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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Category: Market Research Publishers and RetailersCompany profile: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...