Railway Management System Market is forecast to reach $62.43 billion by 2025, growing at a CAGR of 8.9% from 2020 to 2025. Over the past decade, the growing trend of urbanization and growth in the adoption of advanced technologies has led to the rapid evolution of railway systems. Radical developments in the railway environment, enabled through communication technologies, require revising of existing strategies and business models adopted by rail operators. Railway management systems assist railroad operators by making use of IT and control systems, providing advanced railway operation control centers. These systems yield greater quality and high safety regulations, greater consistency and potential cost savings which influence their market adoption. Key Takeaways
The growing trend of urbanization and the increase in the use of advanced technologies has led to the rapid development of railway systems. However, the advent of smart cities for the railway management system also has a positive effect on market growth.
Cloud-based models offer more advantages than the legacy on-premise systems, resulting in higher adoption rates. The cloud platform provides enhanced storage & data processing capabilities for operational control and related market solutions.
In addition, the brewing of government-private partnerships in developed economies is also expected to fuel growth in the target market for Asia Pacific.
The integration of various hardware devices, along with the railway management software, over the legacy system infrastructure can become complex. In addition, legacy systems are often unable to integrate with new generation of smart devices due to protocol issues. This is expected to hinder market growth.
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Railway Management System Market Segment Analysis - By Geography
APAC currently dominates the global Railway Management System market with a share of more than 38.6% and is expected to dominate this market in the forecast period. That's because of increased adoption of new technologies and high digital transformation investments. Also expected to contribute to market growth will be the increasing GDP of the APAC countries.
Railway Management System Market Drivers
Rapid technological advancements and digitalization
Ongoing developments related to ERTMS
Railway Management System Market is expected to be dominated by major companies such as Hitachi, Ltd., ABB, Bombardier, Huawei Technologies Co., Ltd., Indra, Atos SE, Toshiba, Tech Mahindra, Nokia, Ansaldo, Siemens, Thales, DXC Technology, Amadeus, Alstom, Cisco, Optasense, IBM, General Electric, GAO RFID, EKE Electronics, Sierra Wireless, Eurotech, Frequentis, and Trimble
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