Railway Management System Market by Component (Solution and Services) – Global Opportunity Analysis and Industry Forecast, 2016-2023
Railway management system is a state-of-the-art technology that enables efficient management of activities such as traffic control, asset management, control & maintenance, operations, and others. It includes software and services, which offer various features such as traffic planning, operation management, and others. The major solutions available in the market include rail traffic management system, rail asset management system, rail operation management system, rail control system, and rail maintenance management system.
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The railway management system market has witnessed considerable growth in the recent years, owing to high adoption of novel technologies in the railway transportation industry, high demand for regional and international travel, supportive legislations from governing bodies, such as European Rail Traffic Management System (ERTMS), and rapid urbanization in the developing and the underdeveloped countries. In addition, growth in demand for efficient and instant transport mode, advanced fleet & asset management tools, such as asset planning, staff & passenger information, video monitoring, data analytics, and remote diagnostics, fuel the market growth. Furthermore, increase in investment by private entities in government managed rail industry, high traffic on rail networks due to rise in population & urbanization and surge in demand for low-price travel by rail are expected to positively impact the railway management system market growth during the forecast period. However, vast increase in passenger & cargo traffic, high deployment costs, and inefficient use of rail networks are expected to limit the adoption of railway management systems.
The global railway management system industry is segmented based component and geography. Based on component, it is bifurcated into solution and services. Based on solution, it is classified into rail traffic management system, rail asset management system, rail operation management system, rail control system, and rail maintenance management system. Geographically, global railway management system market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players offering railway management system products 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.
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