Smart Railway System Market Size, Share & Trends Analysis Report By Solution, By Component, By Service, By Region, And Segment Forecasts, 2019 To 2025

The global smart railway system market is expected to witness significant growth over the forecast period. Smart railway management includes smart railway systems that are instrumented and interconnected. It comprises devices & components, solutions, and services that help the rail companies to collect new information needed to monitor all railway-related operations more closely and accurately.

It involves information integration, data analytics, and data modeling that help in imparting strategic and operational decision making. Smart railways facilitate sharing of information across the enterprise and with different partners including passengers, rail operators, component providers, system integrators, solution and service providers, and government agencies.

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 the growth of the smart railway system market.

Besides, there is an increased population and change in lifestyle, growing urbanization, and increasing concerns regarding safety and security among trotters; which are some of the major factors contributing to growth of the global market.

Improving railway infrastructure with big data & internet of things, government encouraging FDI & financing in smart railways through PPP, environmental awareness among transportation providers, increasing consolidation among smart railway providers, and a high degree of automation & technological advancements in railways are the major trends observed in this market.

Railroads, particularly smaller carriers, have struggled to implement positive train control (PTC) due to the financial and technical burdens required to fully deploy a complete, on-premise solution, which can include large sensor networks and significant computing resources.

Herzog Technologies, a leader in the railroad signal and communications industry, and Red Hat, a leading provider of open source solutions, have partnered for more cost-effective, open source and cloud-based PTC offering and today offer us some insights into the offering.

Smart railway system market is segmented On the basis of solution into passenger information system: multimedia information and entertainment solution, network connectivity solution, freight information system: freight operation management solution, freight tracking solution, advance security monitoring solution: video analytics, integrated security solution, rail communication system: ground-to-train communication solution, train-to-train communication solution, smart ticketing system, rail analytics system.

On the basis of component, the global market is segmented as video surveillance cameras, networking and connectivity devices, multimedia infotainment displays. On the basis of service, the global market is segmented as professional service: consulting service, system integration, and deployment, support, and maintenance, managed service.

Smart railway system market is segmented on the basis of geographical region as North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), Latin America.

As per the geographical analysis, Europe is likely to benefit from its technological advancements followed by high usage of big data analytics, predictive and sensor analytics all across the railways industry.

Investment has been done for the improvement of urban transport and traffic infrastructures in France and England and expected to drive the European railways transportation market.

Major Key Players include Alstom SA, Cisco System Inc, General Electric, ABB Group, Indra Sistemas, Alcatel-Lucent S.A, Huawei Technologies Co Ltd, Siemens AG, General Electric Co, and Ansaldo STS, Bombardier Inc, Hitachi Ltd.