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Railway Management System Market size surpassed USD 35 billion in 2019 and is anticipated to grow at over 8% CAGR between 2020 and 2026. Urbanization and development of transportation infrastructure will play a crucial role in driving the growth.
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The rising number of passengers travelling by rail network is encouraging government authorities across the globe to upgrade railway infrastructure for speeding up passengers’ journeys and ensuring interoperability. In August 2020, the UK Department for Transport (DfT) introduced an ambitious upgrade plan to invest USD 404 million in Wales rail services for providing an improved railway transport for the passengers. The project includes deployment of smart railway management system at Cardiff Central station in South Wales to ensure safe railway operations and improve passenger journey between Cardiff and Swansea cities. The increasing focus of government bodies to enhance rail services will drive the railway management system market demand.
The rising prevalence of big data and IoT coupled with rapid evolution of railway management system during the past decade in the emerging economies has positively influenced railway industry expansion.
Report Coverage | Details |
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Base Year: | 2019 |
Market Size in 2019: | 35 Billion (USD) |
Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 8% |
2026 Value Projection: | 55 Billion (USD) |
Historical Data for: | 2015 to 2019 |
No. of Pages: | 500 |
Tables, Charts & Figures: | 705 |
Segments covered: | Component, Deployment Mode, Operating System and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The ongoing COVID-19 pandemic has severely impacted developed & developing countries globally. The decline in economy along with decreased GDP of major countries in the first half of FY2020 has hampered the railway management system market growth in the medium term. The shutdown of manufacturing plants and shortage of labors will result in declining demand. However, it is recovering from the second quarter of FY2021, as the pandemic eases and manufacturing operations recommence post lockdown.
The India rail traffic management solutions market is likely to witness 13% gains during 2020 to 2026 owing to the growing traffic intensity and complexity of the railway system, demanding real-time traffic control systems. Railway operators are deploying railway management systems for enabling real-time traffic planning, route scheduling, and communicating information to passengers through display boards. These solutions optimize traffic fluency in large railway networks that are equipped with fixed or moving block signalling systems.
The rail operation management system segment will see strong demand for seamlessly managing train operation and accessing real-time train movement information. The control systems also provide train movement information to passengers, allowing them to modify their journey plans on time.
Germany cloud-based railway management systems market accounted for around 30% share in 2019. Growing improvements in rail infrastructure and implementation of innovative systems for better and faster trains will drive the regional growth. In January 2020, the German government signed a USD 101 billion; 10-year LuFV III railway operating & financing agreement with Deutsche Bahn AG for renewing the rail network in the country. The installation of advanced sensors, tracks, signalling equipment, and communication systems generates massive data that requires proper management and security.
A cloud-based deployment model helps rail operators in reducing unwanted downtime in railway management system and improving productivity. Cloud-based solutions offer several benefits such as scalability, IT security, high speed, and 24/7 services. The railway industry is increasingly adopting modern cloud-based architecture to manage assets, infrastructure, and enhance customer satisfaction. These models also enable railway managers to automate core operations, obtain commercial visibility, and remain in compliance with safety standards for ensuring a robust and reliable infrastructure.
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The increasing complexities of railway management systems and growing concerns of cyber-attacks are demanding the implementation of reliable, safe, and secure operating systems for maintaining continued rail operations. Cyberattacks pose serious threats to railways and drive the need for installing a secured operating system.
QNX software, developed by BlackBerry Limited, a Canadian company, offers a broad range of safety-certified and hardware-independent embedded software solutions and enables safe operation of critical components. QNX is compliant by EN 5012x series and IEC 61 standards that ensure reliability, increase time-to-market, and reduce development costs. The software is pre-certified for usage in railway management systems and is built with a focus on safety and real-time performance needed for secured rail systems.
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The Europe railway management system market captured more than 35% of global revenue share in 2019 and will observe steady rise through 2026 due to favorable government rules and regulations. European Rail Traffic Management System (ERTMS) is the standard for the management and interoperation of signalling systems in railways across the region. The European Train Control System (ETCS) under ERTMS promotes the replacement of existing train protection systems with advanced technologies. The railway corporations across the region are also installing digital solutions to improve reliability and safety of passengers and freight.
Key players operating in the railway management system market include ABB Group, Bombardier, Inc., Cisco Systems, Inc., General Electric Company, Hitachi Rail, Ltd., GAO RFID, Inc., Amadeus IT Group SA, Thales Group, OptaSense, and Trimble Inc. These companies are focusing on joint ventures, mergers, and acquisitions to boost business share and increase product portfolio. They are also investing in R&D activities to develop new products and achieve competitive advantage.
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