Smart Railways Market

Smart Railways Market Insights

A smart railway means a technologically advanced system that increases the productivity, efficiency, and operations of rail infrastructure. The system includes e-ticketing, catering systems, freight information systems, and many more applications. The formation of the smart railways market is done by the deployment of GSM systems, data analytics, and cloud computing systems.  The revenue collection in the smart railways market has been impacted due to the COVID-19 pandemic, which resulted in a global lockdown. But, 50% of operations have begun for trade purposes even though there is a second wave of COVID-19 in various European countries. Yet, it is been estimated that with the aid of promising speculations, the smart railways market is to grow to a greater eminence in the coming years.

According to the report issued by Global Market Estimates Research & Consultants, the smart railways market is implied to portray a significant rise of 13.7% during the forecast period (2020-2026).

Initial deployment costs may cause a hindrance in the emergence of the market yet, the swift adoption of IoT, government funding towards safer railway services, and growing need for urban connectivity are the important propellors needed for the enlargement of the market. With the threat of climate change striking lives constantly, an increase in electrification to reduce GHG emissions impersonates as a factor barrier towards the growth of the market.

Smart Railways Market: By Type of Offering

Solutions and services are the offerings in the global market where passenger information system, rail asset management & maintenance solutions, rail communication & networking system, rail analytics system, and rail operation & control solutions are the classifications of solutions of the global market. Multimedia information & entertainment and network connectivity are the kinds of passenger information systems. Freight operation management and freight tracking are sorts of freight management systems.

Professional and managed services come under services where consulting, system integration & deployment and support & maintenance are the bifurcations under professional services.

By services, the managed services segment is termed to be the highest contributor in the global market and by solutions, the rail communications and networking systems are noticed to grow exponentially in the forecast period. The increase in mobile-based internet applications to enhance travelers’ comfort and luxury is the prominent driver of the global market. The prominent opportunity to drive the market would be the increase in the manufacturing of low-cost android smartphones in countries like China and India.

Smart Railways Market: By Region

Based on the geographical analysis, the Asia Pacific region is regarded to encourage breakneck momentum during the forecast period. Introduction of the smart railway infrastructure, boost in bilateral agreements for trade and transports, and rapid development towards the establishment of smart cities are the locomotives of the smart railway market.

Smart Railways Market Share and Competitor Analysis

Alstom, Cisco, Wabtec, ABB, IBM, Hitachi, Huawei, Indra, Siemens, Honeywell, Bombardier, Thales, Advantech, Fujitsu, Toshiba, Alcatel-Lucent Enterprises, Moxa, EKE-Electronics, Televic, and Aitek, and other industries are the dominant players in the global smart railways market.

Please note: This is not an exhaustive list of companies profiled in the report.

In July 2019, Cisco associated with Google to initiate a new design in the Indian railways market called google station service. Google station service renders access to free and high-speed Wi-Fi across major railways station in the country including Kempegowda Railway Station, Bangalore.

In May 2019, Huawei collaborated with Bombardier to deliver turnkey communication solutions for yellow and pink colored monorail lines in Bangkok.