The study provides an in-depth analysis of the global intelligent railway system market and current & future trends to elucidate the imminent investment pockets in the industry.
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Intelligent railway system offers multifunctional intelligent railway solutions for wagon identification, load detector, flat wheel detection, break systems, automated train control, and traffic control center systems. Further, the integration of these systems helps lower the complexity of railway scheduling and planning, detect fault, and improve security and safety of railway assets and the customer.
The availability of efficient management & planning by intelligent railway system and increase in demand for security and safety passengers is anticipated to drive the growth of the market during the forecast period.
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However, high initial investment and infrastructure cost continues to restrain the growth of this market.
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The adoption of internet of things (IoT) in providing efficient railway management solutions provides profitable opportunities to market players in the coming years.
The global intelligent railway system market is segmented on the basis of component, deployment, application, and geography. By component, the market is divided into hardware, software, and services.
By deployment, it is bifurcated into on-premise and cloud. Based on application, the market is classified into anti-collision system, ticketing management, automated train control, freight management, assets tracking & management system, and others.
By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include Thales Group, TransCore, Altran, Siemens AG, CAMEA spool, s.r.o., Atkins Group, Iteris, Inc., Kapsch Trafficcom, Lanner Electronics Inc., and Ricardo PLC.
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