Railway Management System Market is expected to reach US$ 43.41 Bn in 2027, registering a CAGR of 12.9% during the forecast period 2019-2027
Hyper-urbanization, advanced technologies and high demographic growth, are the major drivers which are propelling railway management systems market growth. Whereas, ineffective management of maintenance and operating costs may act as key challenges for the market growth. However, rising demand for multimodal transport, and road congestion issues owing to rapid urbanization are expected to generate significant opportunities for the railway management system market. The railway systems themselves have experienced an intense era of modernization through complex automation developments including, onboard communication systems and driverless trains.
The Railway Management System Market is segmented on the basis of deployment type, service, and solution; analysed across five major geographical regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The market is bifurcated on the basis of deployment type into on-premise and cloud. Currently, the on-premise deployment type dominates the railway management system market, however the cloud based systems are anticipated to grow at the fastest rate over the forecast period. The market is segmented on the basis of service into professional and managed services. Traffic management system, railway reservation system, operations management system, passenger information system, maintenance management system, and others constitute the solution segment of railway management system market.
Key Players Influencing the Market
- Bombardier, Inc
- DXC Technology Company
- EKE-Electronics Ltd
- General Electric Company
- Hitachi, Ltd.
- Huawei Technologies Co., Ltd.
- Indra Sistemas S.A.
- OptaSense
- Siemens AG
- Thales Group
The overall Railway Management System Market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the railway management system market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the railway management system market.
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