Railway Management System Market size worth around $55 Bn by 2026

Railway Management System Market size is projected to exceed USD 55 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Rising urbanization and increasing congestion and energy consumption in train traffic operation is expected to drive the market growth. The growing need to optimize the existing rail infrastructure and adoption of smart mobility solutions will also propel the market demand. Several major economies are investing in the expansion and modernization of rail networks to speed up the delivery of transport services. For instance, in September 2020, the Wokingham government announced an investment of USD 11.50 million to upgrade the signaling system at Wokingham’s railway network in Berkshire. The signaling and infrastructure enhancements are focused on improving the reliability and flexibility of railway services for passengers by 2021.

 

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The ongoing coronavirus (COVID-19) pandemic has negatively impacted the railway management system market growth due to the imposition of stringent lockdown measures in several countries globally. Travel restrictions and the temporary closure of manufacturing facilities to prevent transmission and ensure social distancing have hampered the market expansion in FY2020. However, with the gradual reopening of factories and relaxation on travel restrictions, the market will gain traction over the coming years.
 

The growing demand for maintaining high availability and reducing operational costs

Maintenance and support services are essential for maximizing system life cycle, operations, and processes to enhance customer experience. Market players are providing operational and maintenance services for helping rail operators to remain operational by maximizing availability, reducing costs, and ensuring safety.
 

India Railway Management System Market

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Railway operators prefer on-premise data storage to ensure security and combat the risk of data breach

The on-premise railway management system market will expand at 7% CAGR through 2026. The model is highly secure and prevents threats associated with data breach in the railway sector. It is reliable and can be customized as well as provides full control over rail infrastructure and data, enabling operators to meet compliance requirements. Stringent regulations including the UK Data Protection Act 2018 and General Data Protection Regulation (GDPR) directs railway managers to improve data protection & privacy of individuals across the Europe.
 

Browse key industry insights spread across 500 pages with 674 market data tables and 31 figures & charts from the report, “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 & 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 & Deployment, Support & Maintenance]), By Deployment Model (On-Premise, Cloud), By Operating System (Linux, QNX, VxWorks), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/railway-management-system-market
 

Reliability, safety, and security capabilities of VxWorks for operating embedded computing systems of critical rail infrastructure are driving the market

The demand for real-time performance, safety, and security will drive the adoption of VxWorks Real-Time Operating System (RTOS) in the railway management system. The software is developed by Wind River Systems and is mainly designed for embedded systems. Several rail authorities rely on VxWorks for real-time, secure, safe, and future-proof operations. For instance, the Yizhuang and Changping lines of the Beijing subway network are using VxWorks software since 2011, to support automatic train control system. The software is capable of handling train traffic running with targeted intervals of 90 seconds. VxWorks supports effective operation of highly sophisticated traffic control systems, supporting China’s goal of becoming a leader in rail transit industry.
 

Growing investments in connected rail infrastructure will drive the North America railway management system market

The demand for railway management systems in the North America is expected to increase over the forecast timeline owing to the launch of connected rails that are equipped with smart interfaces and advanced technology platforms. High-speed trains and deployment of smart mobility will drive the market demand for innovative and intelligent solutions in the railway sector. The rise in the usage of railway management systems for improving traffic control, reliability & safety, and streamlining operations will also foster market expansion.
 

Another factor accelerating the regional railway management system market growth is the growing government and private sector effort to implement intelligent railway management solutions. In September 2020, the Federal Railroad Administration (FRA) under the U.S. Department of Transportation selected 50 projects in 29 states involving USD 320.6 million funding to improve the reliability and safety of the country’s rail network. The funding will advance San Diego Next Generation and Grade Crossing Modernization Project in California by replacing and upgrading legacy signal, train control, and crossing equipment with smart and innovative systems.
 

Investments in R&D for introducing innovative railway management systems to enhance product portfolio is a key strategy amongst industry players

The companies operating in the market are investing highly in R&D activities for new product launches to attract a large customer base and expand business operations in untapped markets. For instance, in December 2019, Amadeus IT Group SA invested USD 275.9 million in R&D for enhancing its railway management systems. The market leaders are also adopting strategies, such as mergers & acquisitions and technology innovations, to sustain in the highly competitive market.
 

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.
 

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