Digital Railway Market

Digital Railway Market by Offering (Solutions and Services), Application Type (Rail Operations Management, Passenger Experience, and Asset Management), Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2024

Report Code: TC 7351 Sep, 2019, by marketsandmarkets.com

[129 Pages Report] MarketsandMarkets projects the digital railway market to grow from USD 50.0 billion in 2019 to USD 74.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period. Major factors expected to drive the growth of the digital railway market include, advancement in communication technology and surge in passengers numbers over the past few years.

Digital Railway Market

Among professional services, System Integration and Deployment to hold a largest market size during the forecast period

Based on professional services, the global digital railway market is segmented into consulting, system integration and deployment, support Integration and deployment services help identify the need for adaptation or upgradation of railway IT infrastructure to support the digital railways software in the existing infrastructure and avoid the restriction of such software. These services help in speed deployment, save time and costs, enable efficient working, and minimize deployment-related disruptions. Deployment and integration services begin with collecting customers’ requirements, and then deploying, integrating, testing, and rolling out solutions. Deployment and integration service providers help end users integrate smart infrastructure solutions with their existing infrastructure. These services help in deploying the best-in-class solutions, independent of the vendor, to develop highly-optimized smart railways.

Predictive Maintenance segment to grow at a highest CAGR during the forecast period

Among solutions, Predictive maintenance segment to show highest CAGR during forecast period. Predictive maintenance techniques are designed to help determine the condition of in-service equipment to estimate when maintenance should be performed. This approach promises cost savings over routine or time-based preventive maintenance because tasks are performed only when warranted. Thus, it is regarded as condition-based maintenance carried out as suggested by estimations of the degradation state of an item. Predictive maintenance solutions are being increasingly deployed in the railway industry to increase asset life, and improve rail operations and safety.

Digital Railway Market

Europe to account for the largest market size during the forecast period.

Countries from Western Europe, such as the UK, France, and Germany, have well well-established railway infrastructure, and many railway operators in this region are using some of the advanced digital railway solutions. The European countries have been investing majorly toward in the modernization and upgradation of rail infrastructures. Social and trade agreements among the European Union (EU) countries have promoted large-scale, cross-border trade and passenger traffic in the European region. High growth is expected in this region, especially in the communication technology, as the European Telecommunications Standards Institute (ETSI) has formed a separate committee to focus on the Machine-to-Machine (M2M) communication privacy standardization and high trading standards. The dynamics of the rail industry in Europe are changing rapidly with new freight and passenger management systems. To boost the efficiency of the existing infrastructure, many of the European countries are expected to adapt to the new digital railway solutions.

Key Digital Railway Market Players

Key and emerging market players include Siemens(Germany), Cisco (US), Hitachi (Japan), Alstom (France), IBM (US), ABB (Switzerland), Huawei (China), Thales (France), Fujitsu (Japan), DXC (US), Indra (Spain), Nokia (Finland), Atkins (UK), Toshiba (Japan), Bombardier (Canada). These players have adopted various strategies to grow in the digital railway market. The companies are focused on inorganic and organic growth strategies to strengthen their market position.

Providing innovative solutions is the key strategy of Siemens in the digital railway market. In the digital railway space Siemens offers Nexus Lodestar Driver Advisory System (DAS), NexusRemote condition monitoring (RCM), and NexusConnect. Nexus Lodestar DAS provides a real-time driver advisory system, delivering route information and speed advice to drivers. Additionally, the solution helps with a consistent and economical driving style, which enables significant energy savings, train punctuality to be improved and maintenance costs to be reduced. Route data, timetable updates and temporary speed restrictions (TSRs) are all uploaded remotely to the system, using the Nexus cab radio maintenance terminal (CRMT). Nexus RCM is an in-service remote condition monitoring application, which detects track defects on three axes, either via the cab radio or on a stand-alone basis. Nexus RCM is able to provide a network-wide track assessment. The system is also customizable to meet operators’ different requirements and can be tailored to detect rough-ride, track voids, dip-track, bogie flats among others.

Scope of the Report

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2019

Forecast period

2019–2024

Forecast units

Billion (USD)

Segments covered

Solution(Remote Monitoring, Route Optimization And Scheduling, Analytics, Network Management, Predictive Maintenance, Security, and Others), Service(Professional Services [Consulting
System Integration and Deployment] Support and Maintenance and Managed Services), Application Type (Rail Operation Management [Rail Automation Management, Rail Control, {Signaling Solution, Rail Traffic Management, Freight Management} Smart Ticketing, Workforce Management], Smart Ticketing, Passenger Information System, Asset Management, and Others), and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

Siemens(Germany), Cisco (US), Hitachi (Japan), Alstom (France), IBM (US), ABB (Switzerland), Huawei (China), Thales (France), Fujitsu (Japan), DXC (US), Indra (Spain), Nokia (Finland), Atkins (UK), Toshiba (Japan), and Bombardier (Canada).

The research report categorizes the market to forecast the revenues and analyze trends in each of the following subsegments:

Digital Railway Market By Offering

  • Solutions
    • Remote Monitoring
    • Route Optimization And Scheduling
    • Analytics
    • Network Management
    • Predictive Maintenance
    • Security
    • Others
  • Services
    • Professional Services
      • Consulting
      • System Integration and Deployment
      • Support and Maintenance
    • Managed Services

Digital Railway Market By Application Type

  • Rail Operations Management
    • Rail Automation Management
    • Rail Control
      • Signaling Solution
      • Rail Traffic Management
      • Freight Management
    • Smart Ticketing
    • Workforce Management
  • Passenger Experience
  • Asset Management
  • Others

Digital Railway Market By Region

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments

  • In July 2019 Alstom and Kazakhstan Railways (KTZ) have signed a Memorandum of Understanding for the development of digital technologies for the railway signalling in the Republic of Kazakhstan. The MoU covers the development of digital technologies for railway signalling and interlocking for the implementation of the adapted technical solutions during the modernization of the interlocking system of the largest railway stations in Kazakhstan
  • In June 2019, ABB announced that it will provide ABB i-bus KNX intelligent building control system for Shijiazhuang Metro Line 1 phase II and two-direction extension of Line 3 Phase I, integrating it with DALI (Digital Addressable Lighting Interface) Control Unit. With deployment of KNX intelligent building control system, Shijiazhuang Metro will be able to smartly manage station lighting and improve efficiency.
  • In April 2019, Siemens Mobility installs intelligent signaling in three of South Africa's busiest rail stations. Siemens Mobility and the Passenger Rail Agency of South Africa (PRASA) have successfully installed and operationalized a new signaling system in Johannesburg Park Station, Braamfontein and Pretoria station.
  • January 2019, Taiwan Hitachi Asia Pacific Co., Ltd., a group company of Hitachi, Ltd. in has been awarded today an order to supply of 600 Electric Multiple Unit ("EMU") train cars for intercity express service from the Taiwan Railways Administration ("TRA"), railway operator.

Critical Questions the Report Answers:

  • Where will all these developments take the industry in the long term?
  • What are the upcoming trends for the digital railway market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primary Profiles
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the Digital Railway Market
    4.2 Market By Offering, 2019
    4.3 Market By Application, 2017–2024
    4.4 Market By Service, 2019 vs 2024
    4.5 Market Investment Scenario

5 Market Overview and Industry Trends (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Investments in the Railway Sector in Various Countries
                    5.2.1.2 Surge in Passenger Numbers Over the Past Few Years
                    5.2.1.3 Advancement in Communication Technology
           5.2.2 Restraints
                    5.2.2.1 Lack of Strong Railway Infrastructure in Underdeveloped Countries
           5.2.3 Opportunities
                    5.2.3.1 Autonomous Train Represents Significant Opportunity for the Digital Railway Solution Providers
                    5.2.3.2 Emerging Trend of Smart Cities
           5.2.4 Challenges
                    5.2.4.1 Increased Threat of Cyberattacks as Railway Systems Becomes More Digital
                    5.2.4.2 Lack of IT Infrastructure and Skilled Personnel
    5.3 Industry Trends
           5.3.1 Use Cases
                    5.3.1.1 Use Case 1: Bae Systems
                    5.3.1.2 Use Case 2: Thales
                    5.3.1.3 Use Case 3: Huawei
                    5.3.1.4 Use Case 4: Cisco
           5.3.2 Railway Infrastructure Investment By Country
    5.4 Innovation Spotlight
           5.4.1 Internet of Things in Railways
           5.4.2 Big Data Analytics and Cloud Computing in Railways
           5.4.3 Hyperloop - the Future of Transportation
           5.4.4 Drones for Identifying Railway Infrastructure Issues
           5.4.5 Automatic Warning System

6 Digital Railway Market By Solution (Page No. - 43)
    6.1 Introduction
    6.2 Remote Monitoring
           6.2.1 Remote Monitoring Solutions to Improve the Reliability of the Railway Infrastructure
    6.3 Route Optimization and Scheduling
           6.3.1 Route Optimization and Scheduling Solutions to Enable Efficient Planning and Management of Routine Operations for Trains
    6.4 Analytics
           6.4.1 Rail Analytics Systems to Help in Demand Planning, Revenue and Workforce Management, Transit Analysis, and Pricing Analysis
    6.5 Network Management
           6.5.1 Network Management Solutions to Play an Important Role in Disaster Management and Minimizing Loss
    6.6 Predictive Maintenance
           6.6.1 Predictive Maintenance Solutions to Increase the Asset Life and Improve Rail Operations and Safety
    6.7 Security
           6.7.1 Rail Security Solutions to Be Adopted Increasingly With the Increased Deployment of Digital Solutions
    6.8 Others

7 Digital Railway Market By Service (Page No. - 50)
    7.1 Introduction
    7.2 Professional Services
           7.2.1 Consulting
                    7.2.1.1 Consulting Service Vendors to Offer Recommendations on Implementing New Technologies
           7.2.2 System Integration and Deployment
                    7.2.2.1 System Integration and Deployment Service Providers to Help End Users Integrate Smart Infrastructure Solutions With Their Existing Infrastructure
           7.2.3 Support and Maintenance
                    7.2.3.1 Support and Maintenance Services to Assist in Installing Freight Management System Solutions
    7.3 Managed Services
           7.3.1 Managed Services to Provide Constant Upgradations and Customized Features to Fulfill Customers’ Ever-Growing Demands

8 Digital Railway Market By Application (Page No. - 56)
    8.1 Introduction
    8.2 Rail Operations Management
           8.2.1 Rail Automation Management
                    8.2.1.1 Rail Automation System Consists of Electronic Interlocking, Traffic Monitoring, and Level-Crossing Protection Systems to Ensure Safety and Better Experience
           8.2.2 Rail Control
                    8.2.2.1 Signaling Solution
                               8.2.2.1.1 Signaling Solutions to Ensure Communication Between Trains, Stations, and Workforce
                    8.2.2.2 Rail Traffic Management
                               8.2.2.2.1 Rail Traffic Management to Offer Flexible Solutions for Increasing the Railway Network Capacity and Efficiency, and Regulating the Flow of Traffic
                    8.2.2.3 Freight Management
                               8.2.2.3.1 Freight Management Systems to Help Freight Operators in Infrastructure and Planning Decisions
           8.2.3 Smart Ticketing
                    8.2.3.1 Smart Ticketing to Help Contribute to the Overall Improvement of the Railway Transport Network
           8.2.4 Workforce Management
                    8.2.4.1 Workforce Management to Ensure Significant Cost Reductions, Improved Employee Productivity, Reduced Risks, and Effective Employee Engagement
    8.3 Passenger Information System
           8.3.1 Passenger Information System to Be A Key Communication Link Between Transportation Operators and Passengers Connectivity
    8.4 Asset Management
           8.4.1 Rail Asset Management to Optimize the Performance and Rail Infrastructure
    8.5 Others

9 Digital Railway Market By Region (Page No. - 66)
    9.1 Introduction
    9.2 North America
           9.2.1 United States
                    9.2.1.1 Government Initiatives to Drive the Digital Railway Market in the United States
           9.2.2 Canada
                    9.2.2.1 Increasing Number of Passengers and Growing Freight Traffic to Drive the Market in Canada
    9.3 Europe
           9.3.1 United Kingdom
                    9.3.1.1 Need to Improve the Efficiency of the Existing Railway Infrastructure to Boost the Market in the United Kingdom
           9.3.2 Germany
                    9.3.2.1 Growing Adoption of IoT and Analytics to Boost the Market in Germany
           9.3.3 France
                    9.3.3.1 High Investment By Railway Operators to Drive the Market in France
           9.3.4 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
                    9.4.1.1 High Government Investments in the Railway Infrastructure and Rapid Growth in the Railway Sector to Drive the Digital Railway Market in China
           9.4.2 India
                    9.4.2.1 Growing Profits in the Railway Sector and Government Initiatives for Smart Cities to Drive the Market in India
           9.4.3 Japan
                    9.4.3.1 Higher Adoption of Railway Technologies to Boost the Market in Japan
           9.4.4 Rest of Asia Pacific
    9.5 Middle East and Africa
           9.5.1 Nigeria
                    9.5.1.1 Government Initiatives Combined With Cooperation With Other Countries to Boost the Market in Nigeria
           9.5.2 United Arab Emirates
                    9.5.2.1 Government Initiatives to Drive the Market in the United Arab Emirates
           9.5.3 South Africa
                    9.5.3.1 Increased Demand for Transportation Services to Match Regional Trade Requirements to Drive the Digital Railway Market in South Africa
           9.5.4 Rest of Middle East and Africa
    9.6 Latin America
           9.6.1 Brazil
                    9.6.1.1 High Scope for Further Development of Railway Infrastructure to Boost High Growth Opportunity in Brazil
           9.6.2 Mexico
                    9.6.2.1 Strategic Location to Play Key Role in the Development of Railway Infrastructure in Mexico
           9.6.3 Rest of Latin America

10 Competitive Landscape (Page No. - 95)
     10.1 Competitive Leadership Mapping
             10.1.1 Visionary Leaders
             10.1.2 Dynamic Differentiators
             10.1.3 Innovators
             10.1.4 Emerging Companies

11 Company Profiles (Page No. - 97)
     11.1 Introduction
(Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     11.2 Siemens
     11.3 Cisco
     11.4 Hitachi
     11.5 Alstom
     11.6 IBM
     11.7 ABB
     11.8 Huawei
     11.9 Thales
     11.10 Fujitsu
     11.11 DXC
     11.12 Indra
     11.13 Nokia
     11.14 Atkins
     11.15 Toshiba
     11.16 Bombardier

*Details on Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 123)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (72 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Digital Railway Market Size, By Solution, 2017–2024 (USD Billion)
Table 4 Remote Monitoring: Market Size By Region2017–2024 (USD Billion)
Table 5 Route Optimization and Scheduling: Market Size By Region, 2017–2024 (USD Billion)
Table 6 Analytics: Market Size By Region2017–2024 (USD Billion)
Table 7 Network Management: Market Size By Region2017–2024 (USD Billion)
Table 8 Predictive Maintenance: Market Size By Region2017–2024 (USD Billion)
Table 9 Security: Market Size By Region2017–2024 (USD Billion)
Table 10 Others: Market Size By Region, 2017–2024 (USD Billion)
Table 11 Digital Railway Market Size, By Service, 2017–2024 (USD Billion)
Table 12 Professional Services: Market Size By Type2017–2024 (USD Billion)
Table 13 Professional Services: Market Size By Region2017–2024 (USD Billion)
Table 14 Consulting Market Size, By Region, 2017–2024 (USD Billion)
Table 15 System Integration and Deployment Market Size, By Region2017–2024 (USD Billion)
Table 16 Support and Maintenance Market Size, By Region2017–2024 (USD Billion)
Table 17 Managed Services: Market Size By Region2017–2024 (USD Billion)
Table 18 Digital Railway Market Size, By Application, 2017–2024 (USD Billion)
Table 19 Rail Operations Management: Market Size By Region, 2017–2024 (USD Billion)
Table 20 Rail Operations Management: Market Size By Type, 2017–2024 (USD Billion)
Table 21 Rail Automation Management Market Size, By Region2017–2024 (USD Billion)
Table 22 Rail Control Market Size, By Type, 2017–2024 (USD Billion)
Table 23 Signaling Solution Market Size, By Region, 2017–2024 (USD Billion)
Table 24 Rail Traffic Management Market Size, By Region2017–2024 (USD Billion)
Table 25 Freight Management Market Size, By Region, 2017–2024 (USD Billion)
Table 26 Smart Ticketing: Digital Railway Market Size, By Region2017–2024 (USD Billion)
Table 27 Workforce Management Market Size, By Region2017–2024 (USD Billion)
Table 28 Passenger Information System: Market Size By Region, 2017–2024 (USD Billion)
Table 29 Asset Management: Market Size By Region2017–2024 (USD Billion)
Table 30 Others: Market Size By Region, 2017–2024 (USD Billion)
Table 31 Digital Railway Market Size By Region, 2017–2024 (USD Billion)
Table 32 North America: Market Size By Offering2017–2024 (USD Billion)
Table 33 North America: Market Size By Solution2017–2024 (USD Billion)
Table 34 North America: Market Size By Service2017–2024 (USD Billion)
Table 35 North America: Market Size By Professional Service, 2017–2024 (USD Billion)
Table 36 North America: Market Size By Application2017–2024 (USD Billion)
Table 37 North America: Market Size By Rail Operations Management, 2017–2024 (USD Billion)
Table 38 North America: Market Size By Rail Control2017–2024 (USD Billion)
Table 39 North America: Market Size By Country2017–2024 (USD Billion)
Table 40 Europe: Digital Railway Market Size, By Offering2017–2024 (USD Billion)
Table 41 Europe: Market Size By Solution2017–2024 (USD Billion)
Table 42 Europe: Market Size By Service, 2017–2024 (USD Billion)
Table 43 Europe: Market Size By Professional Service2017–2024 (USD Billion)
Table 44 Europe: Market Size By Application2017–2024 (USD Billion)
Table 45 Europe: Market Size By Rail Operations Management, 2017–2024 (USD Billion)
Table 46 Europe: Market Size By Rail Control2017–2024 (USD Billion)
Table 47 Europe: Market Size By Country2017–2024 (USD Billion)
Table 48 Asia Pacific: Digital Railway Market Size, By Offering2017–2024 (USD Billion)
Table 49 Asia Pacific: Market Size By Solution2017–2024 (USD Billion)
Table 50 Asia Pacific: Market Size By Service2017–2024 (USD Billion)
Table 51 Asia Pacific: Market Size By Professional Service2017–2024 (USD Billion)
Table 52 Asia Pacific: Market Size By Application2017–2024 (USD Billion)
Table 53 Asia Pacific: Market Size By Rail Operations Management, 2017–2024 (USD Billion)
Table 54 Asia Pacific: Market Size By Rail Control2017–2024 (USD Billion)
Table 55 Asia Pacific: Market Size By Country2017–2024 (USD Billion)
Table 56 Middle East and Africa: Digital Railway Market Size, By Offering2017–2024 (USD Billion)
Table 57 Middle East and Africa: Market Size By Solution2017–2024 (USD Billion)
Table 58 Middle East and Africa: Market Size By Service2017–2024 (USD Billion)
Table 59 Middle East and Africa: Market Size By Professional Service, 2017–2024 (USD Billion)
Table 60 Middle East and Africa: Market Size By Application, 2017–2024 (USD Billion)
Table 61 Middle East and Africa: Market Size By Rail Operations Management, 2017–2024 (USD Billion)
Table 62 Middle East and Africa: Market Size By Rail Control, 2017–2024 (USD Billion)
Table 63 Middle East and Africa: Market Size By Country2017–2024 (USD Billion)
Table 64 Latin America: Digital Railway Market Size, By Offering2017–2024 (USD Billion)
Table 65 Latin America: Market Size By Solution2017–2024 (USD Billion)
Table 66 Latin America: Market Size By Service2017–2024 (USD Billion)
Table 67 Latin America: Market Size By Professional Service, 2017–2024 (USD Billion)
Table 68 Latin America: Market Size By Application2017–2024 (USD Billion)
Table 69 Latin America: Market Size By Rail Operations Management, 2017–2024 (USD Billion)
Table 70 Latin America: Market Size By Rail Control2017–2024 (USD Billion)
Table 71 Latin America: Market Size By Country2017–2024 (USD Billion)
Table 72 Evaluation Criteria


List of Figures (29 Figures)

Figure 1 Digital Railway Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Market to Witness Significant Growth During the Forecast Period
Figure 4 Top 3 Leading Segments in the Digital Railway Market in 2019
Figure 5 Digital Railway: Regional Market Scenario
Figure 6 Rising Adoption of Automation Technologies to Drive the Digital Railway Market Growth
Figure 7 Solutions Segment to Hold A Higher Market Share in the Market in 2019
Figure 8 Rail Operations Management Segment to Lead the Market During the Forecast Period
Figure 9 Professional Services Segment to Lead the Digital Railway Market in Terms of Market Share During the Forecast Period
Figure 10 Digital Railway Market Investment Scenario
Figure 11 Drivers, Restraints, Opportunities, and Challenges
Figure 12 Predictive Maintenance Segment to Grow at the Highest CAGR During the Forecast Period
Figure 13 Managed Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 14 Passenger Information System Segment to Grow at the Highest CAGR During the Forecast Period
Figure 15 Asia Pacific to Be the Fastest-Growing Region in the Digital Railway Market During Forecast Period
Figure 16 Europe to Be the Largest Region in the Digital Railway Market in 2019
Figure 17 Europe: Market Snapshot
Figure 18 Asia Pacific: Market Snapshot
Figure 19 Digital Railway Market (Global) Competitive Leadership Mapping, 2018
Figure 20 Siemens: Company Snapshot
Figure 21 Cisco: Company Snapshot
Figure 22 Hitachi: Company Snapshot
Figure 23 Alstom: Company Snapshot
Figure 24 IBM: Company Snapshot
Figure 25 ABB: Company Snapshot
Figure 26 Huawei: Company Snapshot
Figure 27 Thales: Company Snapshot
Figure 28 Fujitsu: Company Snapshot
Figure 29 DXC: Company Snapshot

The study involved 4 major activities in estimating the current size of the digital railway market. An extensive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of segments and subsegments of the digital railway market.

Secondary Research

In the secondary research process, various secondary sources were referred to, for identifying and collecting information for the study. The secondary sources included companies’ annual reports, press releases, and investor presentations; and white papers, certified publications, and articles from recognized associations and government publishing sources. Additionally, railway investment and spending of various countries was extracted from the respective transportation ministries.

Secondary research was mainly used to obtain key information about the industry’s value chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market- and technology oriented perspectives.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations providing digital railway services. The primary sources from the demand side included end users, such as Chief Information Officers (CIOs), consultants, service professionals, technicians and technologists, and managers at public and investor-owned utilities.

In the market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods to perform market estimation and market forecasting for the overall market segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list key information/insights throughout the report.

After the complete market engineering (including calculations for market statistics, market breakup, market size estimations, market forecasting, and data triangulation), an extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; the competitive landscape of different market players; and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key strategies.

The following is the breakup of the primary respondents’ profiles:

Digital Railway Market

To know about the assumptions considered for the study, download the pdf brochure

Digital Railway Market Size Estimation

The top-down and bottom-up approaches were used to estimate and validate the market size of the global digital railway market and the market size of various other dependent submarkets. The research methodology used to estimate the market size included the following details: the key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. The entire procedure included the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakups were determined using the secondary sources and verified through the primary sources. All possible parameters that affect the market covered in the research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Data Triangulation

Market shares were then estimated for each company to verify the revenue shares used earlier in the bottom-up procedure. With the data triangulation procedure and validation of data through primaries, exact values of the overall parent market size and each individual market size were determined and confirmed in the study.

Report Objectives

  • To define, describe, and forecast the digital railway market by solution, service, application, and region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
  • To analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
  • To forecast the market size of the segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile the key players and comprehensively analyze their market rankings and core competencies1
  • To analyze competitive developments, such as mergers and acquisitions, new product developments, and Research and Development (R&D) activities, in the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Product Analysis

  • Product matrix provides detailed product information and comparisons

Geographic Analysis

  • Further breakup of the North American digital railway market
  • Further breakup of the European market
  • Further breakup of the APAC market
  • Further breakup of the MEA market

Company Information

  • Detailed analysis and profiling of additional market players

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Report Code
TC 7351
Published ON
Sep, 2019
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