Rail Asset Management Market by Solution (Condition Monitoring, Predictive Maintenance, Asset Planning & Scheduling, Analytics, Workforce Management & Security), Services, Application (Rolling Stock & Infrastructure), and Region - Global Forecast to 2024
[150 Pages Report] MarketsandMarkets projects the global rail asset management market size to grow from USD 9.0 billion in 2019 to USD 12.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period. Major factors expected to drive the growth of the rail asset management market include the increasing Public Private Partnership (PPP) model and government initiatives, high demographic growth and hyper-urbanization, and adoption of Internet of Things (IoT) and other automation technologies to enhance optimization.
By application, the rolling stock segment to hold a larger market size during the forecast period
Based on applications, the global rail asset management market is segmented into infrastructure and rolling stock. Of these, the rolling stock segment is expected to account for a larger market size during the forecast period. Rolling stock refers to powered and unpowered vehicles that move on rails. It also includes wheeled vehicles used for business on roadways (such as trams) and other light rail vehicles (LRVs). Rail transit offers the benefit of cost-effective and efficient transportation of passengers as well as freight.
Several countries implement new rail infrastructure projects to reduce road congestion and provide an affordable means of transportation at an intercity as well as intracity level. For instance, Germany has a goal to invest around 86 billion Euros for railway infrastructure maintenance between 2020 and 2029. Increasing urbanization, growing demand for increased connectivity, and the comfort, reliability, and safety offered by rail transport have led to the development of rail transportation. Rolling stock plays a vital role in the infrastructure of a city or a country. Additionally, there is a rising demand for convenient, eco-friendly, and safe modes of transportation from commuters and governments.
By solution, analytics segment to grow at the highest CAGR during the forecast period in the rail asset management market
By solution, the rail asset management market is segregated into asset performance management, analytics, asset planning and scheduling, security, workforce management, network management, and others. By solution, the analytics segment is expected to grow at the highest CAGR during the forecast period. The analytics platform displays information across everything in the data center in real-time. Analytics systems are sub-divided into 2 solutions, namely, freight predictive analytics solution and passenger predictive analytics solution. Rail analytics systems help rail management executives in demand planning, revenue and workforce management, transit analysis, and pricing analysis.
The emergence of predictive analytics has created new opportunities in rail transportation. These analytics mainly focus on estimating the resource requirements and probable congestion patterns in route planning. With the rapid increase in big data applications, the level of complexity would increase, given the increased amount of data, emerging technologies, and constant need to optimize the cost-efficiency. These factors are projected to influence the growth of new analytical platforms and data storage, though the adoption of rail analytics platforms is still in the early phase.
Europe to account for the highest market share during the forecast period.
Countries from Western Europe, such as the UK, France, and Germany, have well-established railway infrastructure, and many railway operators in this region use some of the advanced rail asset management solutions. The European countries have been investing majorly in the modernization to upgrade rail infrastructure.
Social and trade agreements among the European Union (EU) countries have promoted large-scale, cross-border trade, and passenger traffic in Europe. 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 European countries are expected to adapt to the new rail asset management solutions.
Key Rail Asset Management Market Players
Key and emerging market players include Siemens (Germany), IBM (US), Alstom (France), Hitachi (Japan), Wabtec(US), SAP (Germany), Trimble (US), Bentley Systems (US), Bombardier (Canada), Atkins (UK), Cisco (US), DXC Technology (US), Trapeze (Canada), Tego (US), Konux (Germany), L&T Technology Services Limited (India), Capgemini (France), Accenture (Ireland), Huawei Technologies (China), and Cyient (India). These players have adopted various strategies to grow in the rail asset management market. The companies are focused on inorganic and organic growth strategies to strengthen their market position.
Scope of Report
|
Report Metrics |
Details |
|
Market size available for years |
2017-2024 |
|
Base year considered |
2018 |
|
Forecast period |
2019-2024 |
|
Forecast units |
Value (USD Million) |
|
Segments covered |
Offering (solutions and services), deployment mode, application, and region |
|
Regions covered |
North America, Europe, APAC, Latin America, and MEA |
|
Companies covered |
Siemens (Germany), IBM(US), Alstom (France), Hitachi (Japan), Wabtec (US), SAP (Germany), Trimble (US), Bentley Systems (US), Bombardier (Canada), Atkins (UK), Cisco (US), DXC Technology (US), Trapeze (Canada), Tego (US), Konux (Germany), L&T Technology Services Limited (India), Capgemini (France), Accenture (Ireland), Huawei Technologies (China), and Cyient (India), |
This research report categorizes the rail asset management market to forecast revenues and analyze trends in each of the following submarkets:
Based on Offerings:
- Solutions
- Services
Based on the Deployment Mode:
- On-premise
- Cloud
Based on Application Type:
- Rolling stock
- Infrastructure
Based on the Region:
- North America
- US
- Rest of North America
- Europe
- UK
- Rest of Europe
- APAC
- China
- Rest of APAC
- MEA
- Nigeria
- Rest of MEA
- Latin America
- Brazil
- Rest of Latin America
Recent Developments
- In June 2019, Hitachi partnered with Bombardier, a leading provider of rail solutions and services. The partnership aims toward manufacturing and delivering new trains for Trenitalias high-speed train fleet. It also includes the provision of maintenance services, which will enable companies to offer their enhanced rail asset management solutions.
- In April 2019, Siemens partnered with SAS to offer Artificial Intelligence (AI)-embedded Internet of Things (IoT) analytics for edge and cloud. The main objective of this partnership is to combine Siemens MindSphere and SAS Analytics to enable clients to increase productivity and reduce operational risk through predictive and prescriptive maintenance and enhanced asset performance management.
- In April 2019, IBM collaborated with Sund & Bζlt, the developer of bridges and tunnels. The main objective of this collaboration was to develop a new solution powered with AI and IoT to enable clients manage and monitor aging bridges, tunnels, highways, and railways. The new solution will offer task-specific functionality to help organizations manage, monitor, and administer their infrastructure assets through IBM Maximo.
- In November 2018, Siemens Mobility, a subsidiary of Siemens, signed a contract with TfL Rail. The contract aims to design and manufacture a new generation of tube trains. In this agreement, Siemens Mobility will provide a range of added value digital services using its Railigent Asset Management Suite of applications.
- In February 2017, Alstom partnered with The Cosmo Company, a global technology company specialized in decision management. The partnership aims at developing a new application to improve the global efficiency of a rail system. By combining Alstom's expertise in rail operations and technologies and CoSMos experience in asset investment optimization and decision management, both the companies will offer a solution for rail system operators that will allow operators to optimize their asset management.
Critical Questions the Report Answers:
- Where will all these developments take the rail asset management industry in the long term?
- What are the upcoming trends for the rail asset management market?
- Which segment provides the most opportunity for market growth?
- Who are the leading vendors operating in this market?
- What are the opportunities for new market entrants?
Frequently Asked Questions (FAQ):
What is the estimated market value of the global rail asset management market?
The global rail asset management market is expected to grow from USD 9.0 billion in 2019 to USD 12.3 billion by 2024
What is the estimated growth rate of the global rail asset management market?
The global rail asset management market is estimated to register a moderate Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period
Which service segment of the rail asset management market expected to witness the highest growth?
The managed service segment is expected to grow at the highest CAGR during the forecast period.
Which are the major vendors operative in the global rail asset management market?
Siemens (Germany), IBM(US), Alstom (France), Hitachi (Japan), Wabtec (US), SAP (Germany), Trimble (US), Bentley Systems (US), Bombardier (Canada), Atkins (UK), Cisco (US), DXC Technology (US), Trapeze (Canada), Tego (US), Konux (Germany), L&T Technology Services Limited (India), Capgemini (France), Accenture (Ireland), Huawei Technologies (China), and Cyient (India).
What are the top driving factors in rail asset management market?
Driving factors for the growth of rail asset management market includes:
- Need for Efficient Rail Operations
- Increase in Government Initiatives and Public-Private Partnership Model
- High Demographic Growth and Hyper-Urbanization
- Adoption of IoT and Other Automation Technologies to Enhance Optimization
- Rise in Congestion Due to Aging Railway Infrastructure
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 18)
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions and Exclusions
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. - 22)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Breakup and Data Triangulation
2.2.1 Key Industry Insights
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Methodology
2.6 Assumptions for the Study
3 Executive Summary (Page No. - 31)
4 Premium Insights (Page No. - 36)
4.1 Attractive Opportunities in the Rail Asset Management Market
4.2 Market By Offering, 2019
4.3 Market By Solution, 20172024
4.4 Market By Service, 2019 Vs. 2024
4.5 Market Investment Scenario
5 Market Overview and Industry Trends (Page No. - 39)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for Efficient Rail Operations
5.2.1.2 Increase in Government Initiatives and Public-Private Partnership Model
5.2.1.3 High Demographic Growth and Hyper-Urbanization
5.2.1.4 Adoption of IoT and Other Automation Technologies to Enhance Optimization
5.2.1.5 Rise in Congestion Due to Aging Railway Infrastructure
5.2.2 Restraints
5.2.2.1 High Initial Cost of Deployment
5.2.3 Opportunities
5.2.3.1 Growing Need for Advanced Transportation Infrastructure
5.2.3.2 Increasing Demand for Cloud-Based Services
5.2.4 Challenges
5.2.4.1 Integration Complexities With Legacy Infrastructure
5.3 Innovation Spotlight
5.3.1 IoT in Railways
5.3.2 Big Data Analytics and Cloud Computing in Railways
5.3.3 Drones for Identifying Railway Infrastructure Issues
5.3.4 Hyperloop - the Future of Transportation
6 Rail Asset Management Market By Offering (Page No. - 45)
6.1 Introduction
6.2 Solutions
6.2.1 Asset Performance Management
6.2.1.1 Condition Monitoring
6.2.1.1.1 Condition Monitoring Solutions to Improve the Reliability of Existing Railway Infrastructure
6.2.1.2 Predictive Maintenance
6.2.1.2.1 Predictive Maintenance Solutions to Increase the Asset Life and Improve the Overall Rail Operations and Safety
6.2.2 Analytics
6.2.2.1 Rail Analytics Systems Help in Demand Planning, Revenue and Workforce Management, Transit Analysis, and Pricing Analysis
6.2.3 Asset Planning and Scheduling
6.2.3.1 Asset Planning Solutions to Help Rail Organizations Provide Better User Experiences
6.2.4 Security
6.2.4.1 Increased Adoption of Digitalization in Railway Industry to Drive the Adoption of Rail Security Solutions
6.2.5 Workforce Management
6.2.5.1 Workforce Management Solutions Enable Railway Companies to Increase Operational Agility and Productivity
6.2.6 Network Management
6.2.6.1 Network Management Solutions to Minimize Congestion in Network Traffic
6.2.7 Others
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.1.1 Consulting Service Vendors to Offer Recommendations for Implementation of New Technologies
6.3.1.2 System Integration and Deployment
6.3.1.2.1 System Integration and Deployment Service Providers to Help End Users Integrate Smart Infrastructure Solutions
With Existing Infrastructure
6.3.1.3 Support and Maintenance
6.3.1.3.1 Support and Maintenance Services Assist in the Installation of Freight Management System Solutions
6.3.2 Managed Services
6.3.2.1 Managed Services to Provide Constant Upgradations and Customized Features to Fulfill Consumer Demands
7 Rail Asset Management Market By Deployment Mode (Page No. - 60)
7.1 Introduction
7.2 On-Premises
7.2.1 Need for Full Control Over Platforms and Systems to Result in Higher Adoption of On-Premises Solutions
7.3 Cloud
7.3.1 Increased Demand for Easy Accessibility to Increase Adoption of Cloud-Based Rail Asset Management Solutions
8 Rail Asset Management Market By Application (Page No. - 64)
8.1 Introduction
8.2 Rolling Stock
8.2.1 Asset Management Solutions Provide Better Performance and Timely Maintenance of Rolling Stock
8.3 Infrastructure
8.3.1 Increased Need for Optimization of Cost, Performance, and Risks to Fuel Adoption of Rail Infrastructure Asset Management Solutions
9 Rail Asset Management Market By Region (Page No. - 68)
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Government Initiatives to Drive the Market Growth in the United States
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 Increasing Investment in Rolling Stock By Private Players to Drive the Growth of the UK Rail Asset Management Market
9.3.2 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 High Government Investment and Rapid Growth in Railway Infrastructure to Drive the Growth of the Market in China
9.4.2 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 Growth in Nigeria
9.5.2 Rest of Middle East and Africa
9.6 Latin America
9.6.1 Brazil
9.6.1.1 High Spending on Railway Infrastructure to Boost Asset Management Opportunities in Brazil
9.6.2 Rest of Latin America
10 Competitive Landscape (Page No. - 109)
10.1 Overview
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Dynamic Differentiators
10.2.3 Innovators
10.2.4 Emerging Companies
11 Company Profiles (Page No. - 111)
11.1 Introduction
(Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
11.2 Siemens
11.3 IBM
11.4 Alstom
11.5 Hitachi
11.6 Wabtec
11.7 SAP
11.8 Trimble
11.9 Bentley Systems
11.10 Bombardier
11.11 Atkins
11.12 Cisco
11.13 DXC Technology
11.14 Trapeze
11.15 Tego
11.16 Konux
11.17 L&T Technology Services Limited
11.18 Capgemini
11.19 Accenture
11.20 Huawei Technologies
11.21 Cyient
*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. - 144)
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets Subscription Portal
12.3 Related Reports
12.4 Author Details
List of Tables (106 Tables)
Table 1 United States Dollar Exchange Rate, 20162018
Table 2 Factor Analysis
Table 3 Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 4 Solutions: Market Size By Type, 20172024 (USD Million)
Table 5 Solutions: Market Size By Region, 20172024 (USD Million)
Table 6 Asset Performance Management: Market Size 20172024 (USD Million)
Table 7 Asset Performance Management: Market Size By Region, 20172024 (USD Million)
Table 8 Condition Monitoring Market Size, By Region, 20172024 (USD Million)
Table 9 Predictive Maintenance Market Size, By Region, 20172024 (USD Million)
Table 10 Analytics: Rail Asset Management Market Size, By Region, 20172024 (USD Million)
Table 11 Asset Planning and Scheduling: Market Size By Region, 20172024 (USD Million)
Table 12 Security: Market Size By Region, 20172024 (USD Million)
Table 13 Workforce Management: Market Size By Region, 20172024 (USD Million)
Table 14 Network Management: Market Size By Region, 20172024 (USD Million)
Table 15 Others: Rail Asset Management Market Size, By Region, 20172024 (USD Million)
Table 16 Services: Market Size By Type, 20172024 (USD Million)
Table 17 Services: Market Size By Region, 20172024 (USD Million)
Table 18 Professional Services: Market Size 20172024 (USD Million)
Table 19 Professional Services: Market Size By Region, 20172024 (USD Million)
Table 20 Consulting Market Size, By Region, 20172024 (USD Million)
Table 21 System Integration and Deployment Market Size, By Region, 20172024 (USD Million)
Table 22 Support and Maintenance Market Size, By Region, 20172024 (USD Million)
Table 23 Managed Services: Market Size By Region, 20172024 (USD Million)
Table 24 Rail Asset Management Market Size, By Deployment Mode, 20172024 (USD Million)
Table 25 On-Premises: Market Size By Region, 20172024 (USD Million)
Table 26 Cloud: Market Size By Region, 20172024 (USD Million)
Table 27 Rail Asset Management Market Size, By Application, 20172024 (USD Million)
Table 28 Rolling Stock: Market Size By Region, 20172024 (USD Million)
Table 29 Infrastructure: Market Size By Region, 20172024 (USD Million)
Table 30 Rail Asset Management Market Size, By Region, 20172024 (USD Million)
Table 31 North America: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 32 North America: Market Size By Solution, 20172024 (USD Million)
Table 33 North America: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 34 North America: Market Size By Service, 20172024 (USD Million)
Table 35 North America: Market Size By Professional Service, 20172024 (USD Million)
Table 36 North America: Market Size By Deployment Mode, 20172024 (USD Million)
Table 37 North America: Market Size By Application, 20172024 (USD Million)
Table 38 North America: Market Size By Country, 20172024 (USD Million)
Table 39 United States: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 40 United States: Market Size By Solution, 20172024 (USD Million)
Table 41 United States: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 42 United States: Market Size By Service, 20172024 (USD Million)
Table 43 United States: Market Size By Professional Service, 20172024 (USD Million)
Table 44 United States: Market Size By Deployment Mode, 20172024 (USD Million)
Table 45 United States: Market Size By Application, 20172024 (USD Million)
Table 46 Europe: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 47 Europe: Market Size, By Solution, 20172024 (USD Million)
Table 48 Europe: Market Size, By Asset Performance Management, 20172024 (USD Million)
Table 49 Europe: Market Size, By Service, 20172024 (USD Million)
Table 50 Europe: Market Size, By Professional Service, 20172024 (USD Million)
Table 51 Europe: Market Size, By Deployment Mode, 20172024 (USD Million)
Table 52 Europe: Market Size, By Application, 20172024 (USD Million)
Table 53 Europe: Market Size, By Country, 20172024 (USD Million)
Table 54 United Kingdom: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 55 United Kingdom: Market Size By Solution, 20172024 (USD Million)
Table 56 United Kingdom: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 57 United Kingdom: Market Size By Service, 20172024 (USD Million)
Table 58 United Kingdom: Market Size By Professional Service, 20172024 (USD Million)
Table 59 United Kingdom: Market Size By Deployment Mode, 20172024 (USD Million)
Table 60 United Kingdom: Market Size By Application, 20172024 (USD Million)
Table 61 Asia Pacific: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 62 Asia Pacific: Market Size By Solution, 20172024 (USD Million)
Table 63 Asia Pacific: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 64 Asia Pacific: Market Size By Service, 20172024 (USD Million)
Table 65 Asia Pacific: Market Size By Professional Service, 20172024 (USD Million)
Table 66 Asia Pacific: Market Size By Deployment Mode, 20172024 (USD Million)
Table 67 Asia Pacific: Market Size By Application, 20172024 (USD Million)
Table 68 Asia Pacific: Market Size By Country, 20172024 (USD Million)
Table 69 China: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 70 China: Market Size By Solution, 20172024 (USD Million)
Table 71 China: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 72 China: Market Size By Service, 20172024 (USD Million)
Table 73 China: Market Size By Professional Service, 20172024 (USD Million)
Table 74 China: Market Size By Deployment Mode, 20172024 (USD Million)
Table 75 China: Market Size By Application, 20172024 (USD Million)
Table 76 Middle East and Africa: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 77 Middle East and Africa: Market Size By Solution, 20172024 (USD Million)
Table 78 Middle East and Africa: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 79 Middle East and Africa: Market Size By Service, 20172024 (USD Million)
Table 80 Middle East and Africa: Market Size By Professional Service, 20172024 (USD Million)
Table 81 Middle East and Africa: Market Size By Deployment Mode, 20172024 (USD Million)
Table 82 Middle East and Africa: Market Size By Application, 20172024 (USD Million)
Table 83 Middle East and Africa: Market Size By Country, 20172024 (USD Million)
Table 84 Nigeria: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 85 Nigeria: Market Size By Solution, 20172024 (USD Million)
Table 86 Nigeria: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 87 Nigeria: Market Size By Service, 20172024 (USD Million)
Table 88 Nigeria: Market Size By Professional Service, 20172024 (USD Million)
Table 89 Nigeria: Market Size By Deployment Mode, 20172024 (USD Million)
Table 90 Nigeria: Market Size By Application, 20172024 (USD Million)
Table 91 Latin America: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 92 Latin America: Market Size By Solution, 20172024 (USD Million)
Table 93 Latin America: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 94 Latin America: Market Size By Service, 20172024 (USD Million)
Table 95 Latin America: Market Size By Professional Service, 20172024 (USD Million)
Table 96 Latin America: Market Size By Deployment Mode, 20172024 (USD Million)
Table 97 Latin America: Market Size By Application, 20172024 (USD Million)
Table 98 Latin America: Market Size By Country, 20172024 (USD Million)
Table 99 Brazil: Rail Asset Management Market Size, By Offering, 20172024 (USD Million)
Table 100 Brazil: Market Size By Solution, 20172024 (USD Million)
Table 101 Brazil: Market Size By Asset Performance Management, 20172024 (USD Million)
Table 102 Brazil: Market Size By Service, 20172024 (USD Million)
Table 103 Brazil: Market Size By Professional Service, 20172024 (USD Million)
Table 104 Brazil: Market Size By Deployment Mode, 20172024 (USD Million)
Table 105 Brazil: Market Size By Application, 20172024 (USD Million)
Table 106 Evaluation Criteria
List of Figures (35 Figures)
Figure 1 Rail Asset Management Market: Research Design
Figure 2 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue of Solutions/Services of the Market
Figure 3 Market Size Estimation Methodology: Approach 1 Bottom-Up (Supply Side): Collective Revenue of All Solutions/Services of the Rail Asset Management Market
Figure 4 Market Size Estimation Methodology: Approach 2 Top-Down (Demand Side): Share of the Rail Asset Management Market Through Overall Railway Spending
Figure 5 Competitive Leadership Mapping Matrix: Criteria Weightage
Figure 6 Market to Witness Steady Growth During the Forecast Period
Figure 7 Top 3 Leading Segments in the Market in 2019
Figure 8 Rail Asset Management Market: Regional Scenario
Figure 9 Growing Need for Operational Efficiency to Drive the Market Growth
Figure 10 Solutions Segment to Hold a Higher Market Share in the Market in 2019
Figure 11 Asset Performance Management Segment to Lead the Market During 20172024
Figure 12 Professional Services Segment to Lead the Market in Terms of Market Share During the Forecast Period
Figure 13 Market Investment Scenario
Figure 14 Rail Asset Management Market: Drivers, Restraints, Opportunities, and Challenges
Figure 15 Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 16 Cloud Deployment Mode to Grow at a Higher CAGR During the Forecast Period
Figure 17 Infrastructure Segment to Grow at a Higher CAGR During the Forecast Period
Figure 18 Asia Pacific to be the Fastest-Growing Region in the Rail Asset Management Market During the Forecast Period
Figure 19 Europe to Hold the Largest Market Size in the Market in 2019
Figure 20 Europe: Market Snapshot
Figure 21 Asia Pacific: Market Snapshot
Figure 22 Rail Asset Management Market (Global) Competitive Leadership Mapping, 2019
Figure 23 Siemens: Company Snapshot
Figure 24 Siemens: SWOT Analysis
Figure 25 IBM: Company Snapshot
Figure 26 IBM: SWOT Analysis
Figure 27 Alstom: Company Snapshot
Figure 28 Alstom: SWOT Analysis
Figure 29 Hitachi: Company Snapshot
Figure 30 Hitachi: SWOT Analysis
Figure 31 Wabtec: Company Snapshot
Figure 32 Wabtec: SWOT Analysis
Figure 33 SAP: Company Snapshot
Figure 34 Trimble: Company Snapshot
Figure 35 Bombardier: Company Snapshot
The study involved 4 major activities in estimating the current market size for the rail asset management market. An exhaustive secondary research was done to collect information on the market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the rail asset management market.
Secondary Research
In the secondary research process, various secondary sources, such as D & B Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, were referred to identify and collect information for this study. These secondary sources included annual reports, press releases, and investor presentations of companies, whitepapers, certified publications, and articles by recognized authors, gold standard, and silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The rail asset management market comprises several stakeholders, such as government agencies, rail asset management Original Equipment Manufacturers (OEMs), rail asset management service providers, system integrators, consulting firms, research organizations, resellers and distributors, managed service providers, regulatory authorities and associations, Information Technology (IT) service providers, consultants/consultancies/advisory firms, and training providers.
The demand side of the rail asset management market consists of the firms operating in several industry verticals. The supply side includes rail asset management providers, offering rail asset management solutions and services. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Given below is the breakup of the primary respondents:
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Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the size of the global rail asset management market and various other dependent submarkets in the overall market. An exhaustive list of all the vendors offering solutions and services in the rail asset management market was prepared while using the top-down approach. The market share for all the vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor was evaluated based on its components (solutions and services). The aggregate of all companies revenues was extrapolated to reach the overall market size.
Further, each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from the industry leaders, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and marketing executives.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To determine and forecast the global rail asset management market by offering (solutions and services), deployment mode, application, and region from 2019 to 2024, and analyze the various macroeconomic and microeconomic factors that affect market growth
- To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)
- To provide detailed information about major factors influencing the growth of the rail asset management market (drivers, restraints, opportunities, and challenges)
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the rail asset management market
- To profile the key market players, provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the competitive landscape of the market
- To track and analyze competitive developments, such as mergers and acquisitions, new product/service launches, business expansions, partnerships and collaborations, and Research and Development (R&D) activities in the market
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