HOME › Research Insight › Players Adopted Various Growth Strategies, such as Expansions, Acquisitions, & Mergers with Partnerships, and new Product Launches in Railway Management System Market
Players Adopted Various Growth Strategies, such as Expansions, Acquisitions, & Mergers with Partnerships, and new Product Launches in Railway Management System Market
The railway management system market size is estimated to be USD 29.27 Billion in 2016 and is projected to reach USD 57.88 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period. Some of the major factors that are driving the growth of the railway management system market include the high demographic growth & hyper-urbanization, government initiatives & partnerships model, adoption of Internet of Things (IoT), as well as, automation technologies to enhance optimization, infrastructure saturation, and technological advancements. The adoption of railway management systems & solutions is propelled by the increasing demand for improved service quality in the railways. Moreover, cloud-based deployment of solutions have enhanced the efficiency, as well as, consumer satisfaction. The applications of IoT have also made the systems and solutions more robust and revenue-generating.
Technological giants, such as Alstom SA (Saint-Ouen, France), Cisco systems, Inc. (San Jose, U.S.), General Electric (Connecticut, U.S.), ABB Ltd. (Zurich, Switzerland), IBM Corporation (New York, U.S.), Hitachi limited (Tokyo, Japan), Bombardier, Inc. (Quebec, Canada), Huawei Technologies Co. Ltd. (Shenzhen, China), Indra Sistemas SA (Alcobendas, Spain), Siemens AG (Munich, Germany), Alcatel-Lucent (Paris, France), and Ansaldo STS (Genoa, Italy) offer leading railway management systems, solutions, and services, to cater to the needs and demands of the market. These players have adopted various growth strategies, such as expansions, acquisitions, & mergers with partnerships, and new product launches, being the key strategies. Partnerships and mergers & acquisitions have been the major strategical trends, accounting for more than half of the market share of all the growth strategies adopted by the major market players.
Bombardier has adopted a strategic mix of organic and inorganic growth strategies, such as new product developments, partnerships, acquisitions, and business expansions. In 2016, Bombardier signed a strategic agreement with China Railway Rolling Stock Corporation (CRRC), a Chinese rolling stock manufacturer, for serving the growing global rail transportation equipment market by leveraging their complementary strengths for selected projects and support mutual long-term growth objectives.
Similarly, General Electric, in September 2016, announced the acquisition of Meridium, Inc., a provider of Asset Performance Management (APM) software and services, aimed at accelerating its comprehensive APM offerings and providing a solution to customers that unifies real-time analytics with reliability-centered maintenance best practices, delivering a complete APM solution.
Railway Management System Market by System & Solution (Railway Traffic Management System, Rail Operations Management System, Rail Maintenance Management System), Service (Professional and Managed), and Region - Global Forecast to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India