Railway Management System Market Size By Component (Solution [Rail Operation Management System {Facility Management Solution, Revenue Management Solution, Ticketing Management Solution, Workforce Management Solution, Rail Automation Management Solution}, Rail Traffic Management System {Intelligent Signaling Solution, Real-Time Train Planning And Route Scheduling Solution, Centralized Traffic Control Solution}, Rail Asset Management System {Train Information Solution, Track Monitoring Solution}, Rail Control System {Positive Train Control Solution, Communication-based Train Control Solution, Integrated Control System}, Rail Maintenance Management System {Vehicle Maintenance Scheduling Solution, Predictive Analytics For Maintenance Management Solution}, Passenger Information System, Rail Security], Service [Training and Consulting, System Integration and Deployment, Support and Maintenance]), By Deployment Model (On-Premise, Cloud), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Industry Trends

Railway Management System Market size estimated at over USD 33 billion in 2017 and will grow at a CAGR of over 10% between 2018 and 2024.
 

Get more details on this report - Request Free Sample PDF
 

The rising trend of urbanization and growth in the adoption of advanced technologies has resulted into the rapid evolution of railway systems over the past decade. Radical developments in the railway environment, enabled by communication technologies require the existing strategies and business models adopted by rail operators to be updated. Railway management systems assist railway operators by making use of information technologies and control systems, providing advanced control centers for railway operations. These systems deliver increased quality and high levels of safety, greater consistency, and potential cost savings driving their adoption in the market. Government around the world are making strategic investments into the railway industry with an aim to update the existing railway infrastructure, thereby stabilizing the economic growth of the country. For instance, under the National Transportation Plan, the Norwegian government has decided to invest USD 14.4 billion in rail infrastructure & digitalization projects between 2018-2023. This will cover new railway projects and investments in digitalization and the existing infrastructure to meet the requirements of the growing population, thereby reducing pollution and road congestion. Moreover, the emergence of smart cities also has a positive impact on railway management system market growth.
 

Request 15% Free Customization on this Report
 

Railway Management System Market, By Component

A railway management system integrates solutions and related services for augmenting the speed, safety, reliability, and efficiency of rail services. The rail operation management system aids in streamlining rail operations, augmenting security, and delivering enhanced environmental protection. These systems allow station operators to more effectively coordinate and manage train arrivals, departures, and cargo handling to augment the throughput. They also provide efficient revenue & ticketing management solutions, ensuring accuracy in the fare collection, increased security against frauds, reduced revenue losses, improved end-user customer satisfaction, and lower maintenance costs.
 

Rail automation management solutions are growing at the fastest rate in the railway management system market and are projected to grow at a CAGR of over 10% over the forecast timespan. Providing enhanced reliability, speed, and convenience are the critical factors for ensuring the attractiveness of the modern transit railways. These criteria can be fulfilled by adopting railway automation management solutions. Various countries worldwide are adopting rail management solutions to improve their operational efficiency and deliver rail solutions with enhanced safety & compliance. In February 2018, Quintiq partnered with AlmavivA for offering rail optimization solutions in Italy. The combined knowledge and expertise will improve the Italian passenger & freight rail sector and augment customer support levels.
 

The support & maintenance segment is growing at the fastest rate and is projected to grow at a CAGR of over 16% over the forecast period. Due to the rising advent of advanced technologies including IoT, smart sensors, and big data & smart city initiatives adopted by the government, it is important to build an efficient railway infrastructure, which requires high support & maintenance services, driving the market growth. These service providers also assist rail operators in improving the transport reliability at reduced costs resulting in enhanced passenger safety & satisfaction. They also implement preventive & corrective maintenance practices allowing rail operators to concentrate on their core activities driving their adoption rate in the railway management system market.
 

Get more details on this report - Request Free Sample PDF
 

Railway Management System Market, By Deployment Model

The cloud-based model is expected to grow at the fastest rate at a CAGR of over 14% over the forecast period. Cloud-based models offer more advantages as compared to the legacy on-premise systems leading to an increase in their adoption rates. The cloud platform provides enhanced storage & data computation capabilities for operational control and related solutions in the railway management system market. These models also assist in providing real-time data collection, distribution, and reliable data transfer capabilities enhancing their market demand. In September 2016, Huawei launched two cloud-based digital urban rail solutions, the Traffic Control Integrated Automation System (TIAS) and the Data Communication System (DCS) solution. With these, the company plans to develop safer, smarter, and efficient rail traffic networks delivering a successful journey to the passengers through digital transformation.
 

Get more details on this report - Request Free Sample PDF
 

Railway Management System Market, By Region

The North America railway management system market is growing at a steady rate accounting for over 27% of the market share in 2017. Freight transportation is significant in this region and accounts for around 70% of the market while the passenger railway transportation is in the growth stages. Stringent government regulations, robust infrastructure, and the rising adoption of advanced technologies by the North American railway providers are some of the major factors driving the market demand. Furthermore, the companies residing in this region, including IBM, Bombardier, and General Electric, are also implementing strategic initiatives to expand their rail management product portfolio through rail solutions ranging from rail maintenance services, subsystems, and signaling systems. In December 2015, Nomad Digital and Bombardier entered into a partnership for delivering rail IP connectivity and innovate fleet for the present & future Bombardier customers in North America.
 

Competitive Market Share

Several railway management system providers are witnessing a higher demand from emerging markets of Latin America, Asia, Eastern Europe, and Africa as these regions contribute majorly to the world’s population. These companies are offering numerous rail management solutions & services and investing in advanced technologies to meet the growing demand of the marketplace. For instance, in April 2017, Cisco announced to spend approximately USD 30 billion on IoT projects over the next 15 years for bringing about advancements in the rail industry. The major players functioning in the railway management system market include Cisco, IBM, Nokia, Bombardier, Atos, ABB, Toshiba, Huawei, Alstom, Eurotech, General Electric, Indra, Thales, Trimble, Siemens, and Hitachi.
 

Industry Background  

Growing advancements in the transportation sector coupled with the integration of advanced technologies, such as IoT, cloud computing, and big data, are the major factors contributing to the increasing demand for the market. The companies are also focused on developing new solutions to meet the increasing customer demand by having a positive impact on the market. The growing investments in the railway sector by governments and a rise in the number of PPP models also act as important parameters supporting the market development.