Smart Railways Market by Solution (Rail Asset Management & Maintenance, Operation & Control, PIS, Communication & Networking, Security & Safety, and Rail Analytics) and Service (Professional and Managed), and Region - Global Forecast to 2024
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Request For Special Pricing[165 Pages Report] The smart railways market size to grow from 20.5 billion in 2019 to USD 39.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.7% during 20192024. Major growth drivers for the market include technological advancements targeted toward the enhancement of customer experience, government initiatives for smart cities and Public-private partnership (PPP) working model, and adoption of Internet of Things (IoT) as well as automation technologies to enhance optimization.
By service, the managed services segment to grow at a higher CAGR during forecast period
The growing demand to outsource the maintenance of smart railways solutions is anticipated to drive the demand for managed services in the market. Organizations need to optimize resource utilization, which is one of the major factors expected to fuel the growth of the smart railways market. Managed services provide constant upgradations and customized features to fulfill the ever-growing customer demands. As a result, companies rapidly outsource their tasks to Managed Service Providers (MSPs).
By solution, the rail communication and networking system segment to hold the largest market size in 2019
The adoption of smart communication solutions across varied applications of railway management help improve timely decision-making for issues, such as asset deployment, utilization, and maintenance. The growth in technology enhances the attractiveness of mobile internet-based applications and solutions, such as passenger connectivity, passenger infotainment, smart ticketing, and navigation.
Europe to hold the largest market size during forecast period
Europe is estimated to hold the largest market size in the smart railways market in 2019. Countries from Western Europe, such as the UK, France, and Germany, have well-established railway infrastructure, and several railway operators in the region use some of the most advanced smart railways solutions. European countries have been investing majorly to modernize and upgrade the existing rail infrastructure. Social and trade agreements among the European Union (EU) countries have promoted large-scale, cross-border trade and passenger traffic in Europe. To boost the efficiency of the existing infrastructure, several European countries are expected to adopt new smart railways solutions.
Key Market Players
Major vendors in the smart railways market include Alstom (France), Cisco (US), Wabtec (US), ABB (Switzerland), IBM (US), Hitachi (Japan), Huawei (China), Indra (Spain), Siemens (Germany), Honeywell (US), Bombardier (Canada), Thales (France), Advantech (Taiwan), Fujitsu (Japan), Toshiba (Japan), Alcatel-Lucent Enterprises (France), Moxa (Taiwan), EKE-Electronics (Finland), Televic (Belgium), and Aitek (Italy). These companies have adopted various strategies, such as mergers and acquisitions; expansions; new product launches and product enhancements; and partnerships, agreements, and collaborations to cater to the growing demand for smart railways market solutions across the globe as well as to strengthen their position in the market.
Scope of the Report
|
Report Metrics |
Details |
|
Market size available for years |
20172024 |
|
Base year considered |
2018 |
|
Forecast period |
20192024 |
|
Forecast units |
Value (USD) |
|
Segments covered |
By offering and region |
|
Geographies covered |
North America, Europe, APAC, Latin America, and MEA |
|
Companies covered |
Alstom (France), Cisco (US), Wabtec (US), ABB (Switzerland), IBM (US), Hitachi (Japan), Huawei (China), Indra (Spain), Siemens (Germany), Honeywell (US), Bombardier (Canada), Thales (France), Advantech (Taiwan), Fujitsu (Japan), Toshiba (Japan), Alcatel-Lucent Enterprises (France), Moxa (Taiwan), EKE-Electronics (Finland), Televic (Belgium), and Aitek (Italy) |
The research report categorizes the smart railways market based on offering and region.
By Offering, the smart railways market has the following segments:
- Solutions
- Passenger Information System
- Multimedia Information and Entertainment
- Network Connectivity
- Freight Management System
- Freight Operation Management
- Freight Tracking
- Security and Safety Solutions
- Video Surveillance and Analytics
- Intrusion Detection
- Access control
- Fire alarm and voice evacuation
- Others (imaging and scanning solutions and security information management solution)
- Rail Communication and Networking System
- Ground-To-Train Communication
- Train-To-Train Communication
- Smart Ticketing System
- Rail Analytics System
- Rail Asset Management and Maintenance Solutions
- Asset Planning and Scheduling
- Workforce Management and Optimization
- Condition-based monitoring
- Predictive maintenance
- Others (incident management, warrantee management, and material management)
- Rail Operation and Control Solutions
- Passenger Information System
- Services
- Professional Services
- Consulting
- System Integration and Deployment
- Support and Maintenance
- Managed Services
- Professional Services
By Region, the smart railways market has the following segments:
- North America
- United States (US)
- Canada
- Europe
- United Kingdom (UK)
- France
- Germany
- Rest of Europe (includes Russia, Germany, Spain, Belgium, Czech Republic and Italy)
- APAC
- China
- India
- Japan
- Rest of APAC (includes Australia, New Zealand, South Korea, Thailand, and Singapore)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (includes Argentina, Chile, Cuba, and Peru)
- MEA
- Turkey
- Nigeria
- Rest of MEA (includes South Africa, United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA), Iraq, Iran, Israel, and Qatar)
Recent Developments
- In November 2019, Alstom signed a second ten-year maintenance contract with SBB, the Swiss national railway company, to maintain SBBs European Train Control System (ETCS) equipment. ETCS is the signaling and control component of the European Rail Traffic Management System (ERTMS).
- In July 2019, Cisco partnered with Google, for the Google Station Service in Indian market. Google Station Service provides access to free and high-speed Wireless Fidelity (WiFi) at public locations across the country. According to partnership, Cisco would provide network infrastructure for Google Station Service on various public locations, including railway stations in Bengaluru city, India.
- In May 2019, Wabtec signed a USD 55 million contract with the New Mexico Department of Transportation (NMDOT) to implement the Positive Train Control (PTC) system for the New Mexico Rail Runner Express (NMRX).
- In May 2019, Hitachi Rail STS S.p.A signed an agreement with Trentino Trasporti S.p.A (Italy), to carry out Proof of Concept (PoC) of a new digital ticketing solution for the public transportation, operated by Trentino Trasporti, including Trento-Malι-Mezzana Railway and buses in the vicinity of Trento, Italy.
- In May 2019, Huawei partnered with Bombardier, a Canadian manufacturer of business jets, public transport vehicles, and high-speed rail train sets, to deliver turnkey communication solutions for pink and yellow monorail lines in Bangkok.
Critical questions answered by the report:
- What are the current technology trends driving the smart railways market?
- What are the various regulations directly impacting the adoption of market solutions?
- Where will all these developments take the industry in the mid- to long-term?
- Which companies are top vendors in the market and how is the competitive scenario of the market?
- What are the drivers and challenges of the smart railways market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 19)
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
1.3.3 Years Considered for the Study
1.4 Currency Considered
1.5 Stakeholders
2 Research Methodology (Page No. - 22)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Key Industry Insights
2.1.2.2 Breakup of Primaries
2.2 Market Breakup and Data Triangulation
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. - 37)
4.1 Attractive Opportunities in the Smart Railways Market
4.2 Market in Europe, By Offering and Country
4.3 Market Major Countries
5 Market Overview and Industry Trends (Page No. - 39)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancement Targeted Toward Enhancement of Customer Experience
5.2.1.2 Government Initiatives for Smart Cities and PPP Working Models
5.2.1.3 Adoption of IoT as Well as Automation Technologies to Enhance Optimization
5.2.2 Restraints
5.2.2.1 High Initial Cost of Deployment
5.2.2.2 Lack of Technology Infrastructure and Interoperability
5.2.3 Opportunities
5.2.3.1 Autonomous Trains to Provide Growth Opportunities for Smart Railways Solution Providers
5.2.4 Challenges
5.2.4.1 Integration Complexities of Legacy Systems and Networks
5.3 Industry Trends
5.3.1 Evolution
5.3.2 Value Chain Analysis
5.4 Case Studies
5.4.1 Case Study 1: Cisco, Davra Networks, and Intel Deliver Edge Analytics to San Diego Metropolitan Transit System
5.4.2 Case Study 2: Bane Nor Selected Thales to Provide Next-Generation Nationwide Traffic Management System
5.4.3 Case Study 3: Intelligent Software System By Huawei Analyzes Data, Improves Surveillance Efficiency, and Implements Convenient Surveillance Management Solutions for QinghaiTibet Railway
6 Smart Railways Market By Offering (Page No. - 47)
6.1 Introduction
6.2 Solutions
6.2.1 Passenger Information System
6.2.1.1 Multimedia Information and Entertainment
6.2.1.1.1 Passenger Demand of Digital Media Content for Entertainment to Drive Adoption of Multimedia Information and Entertainment Solutions in the Market
6.2.1.2 Network Connectivity
6.2.1.2.1 Growing Network Connectivity to Drive Demand for Network Connectivity Solutions in the Market
6.2.2 Freight Management System
6.2.2.1 Freight Operation Management
6.2.2.1.1 Growing Need to Improve Efficiency of Fright Operations to Drive Demand for Freight Operation Management Solutions in the Market
6.2.2.2 Freight Tracking
6.2.2.2.1 Growing Demand for Tracking Real-Time Location Information of Cargo Containers to Drive Demand for Freight Tracking Solutions in the Market
6.2.3 Security and Safety Solutions
6.2.3.1 Video Surveillance and Analytics
6.2.3.1.1 Growing Need to Analyze Huge Amount of Visual Data From Security and Safety Perspectives to Drive Demand for Video Surveillance and Analytics Solutions in the Market
6.2.3.2 Intrusion Detection
6.2.3.2.1 Increasing Instances of Theft to Drive Demand for Intrusion Detection Solutions in the Market
6.2.3.3 Access Control
6.2.3.3.1 Need to Restrict Access to Unauthorized Users in Rail Infrastructure to Drive Demand for Access Control Solutions in the Market
6.2.3.4 Fire Alarm and Voice Evacuation
6.2.3.4.1 Need to Notify People to Evacuate in Case of Fire to Drive Demand for Fire Alarm and Voice Evacuation Solutions in the Market
6.2.3.5 Others
6.2.4 Rail Communication and Networking System
6.2.4.1 Ground-To-Train Communication
6.2.4.1.1 Need to Enhance Communication Between Moving Vehicles and Train Control Stations to Drive Demand for Ground-To-Train Communication Solutions in the Market
6.2.4.2 Train-To-Train Communication
6.2.4.2.1 Need to Establish Communication Between Moving Rail Vehicles to Drive Demand for Train-To-Train Communication Solutions in the Market
6.2.5 Smart Ticketing System
6.2.5.1 Rising Demand to Simplify the Ticketing Process to Drive Demand for Smart Ticketing Solutions
6.2.6 Rail Analytics System
6.2.6.1 Emergence of Predictive Analytics to Drive Demand for Rail Analytics Systems in the Market
6.2.7 Rail Asset Management and Maintenance Solutions
6.2.7.1 Asset Planning and Scheduling
6.2.7.1.1 Growing Demand for Better Passenger Experience to Drive the Demand for Asset Planning and Scheduling Solutions in the Market
6.2.7.2 Workforce Management and Optimization
6.2.7.2.1 Need to Maximize Operation Agility and Workforce Productivity to Drive Demand for Workforce Management and Optimization Solution in the Market
6.2.7.3 Condition-Based Monitoring
6.2.7.3.1 Need to Improve Reliability of Existing Rail Infrastructure to Drive Demand for Condition-Based Monitoring Solutions in the Market
6.2.7.4 Predictive Maintenance
6.2.7.4.1 Need to Increase Life of Rail Assets to Drive Demand for Predictive Maintenance Solutions in the Market
6.2.7.5 Others
6.2.8 Rail Operation and Control Solutions
6.2.8.1 Demand to Increase Efficiency of Rail Operations to Drive Demand for Rail Operation and Control Solutions in the Market
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.1.1 Need to Understand Organizational Demand for Customized Smart Railways Solutions to Drive Adoption of Consulting Services in the Market
6.3.1.2 System Integration and Deployment
6.3.1.2.1 Need to Deploy Smart Railways Solutions Efficiently to Propel Demand for System Integration and Deployment Services in the Market
6.3.1.3 Support and Maintenance
6.3.1.3.1 Increase in Adoption Rate of Smart Railways Solutions to Lead to Growth in Demand for Support and Maintenance Services in the Market
6.3.2 Managed Services
6.3.2.1 Growing Demand to Outsource Maintenance of Smart Railways Solutions to Drive Demand for Managed Services in the Market
7 Smart Railways Market, By Region (Page No. - 80)
7.1 Introduction
7.2 North America
7.2.1 United States
7.2.1.1 Government Initiatives to Drive the Smart Railways Market Growth in the US
7.2.2 Canada
7.2.2.1 Increasing Number of Passengers and Growing Freight Traffic to Drive the Market Growth in Canada
7.3 Europe
7.3.1 United Kingdom
7.3.1.1 Need to Improve Efficiency of the Existing Railway Infrastructure to Boost the Market Growth in the UK
7.3.2 Germany
7.3.2.1 Growing Adoption of IoT and Analytics to Boost the Market Growth in Germany
7.3.3 France
7.3.3.1 High Investments By Railway Operators to Drive the Market Growth in France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.1.1 High Government Investments in Railway Infrastructure and Rapid Growth in the Railway Sector to Drive the Smart Railways Market Growth in China
7.4.2 India
7.4.2.1 Growing Profits in the Railway Sector and Government Initiatives for Smart Cities to Drive the Market Growth in India
7.4.3 Japan
7.4.3.1 Higher Adoption of Railway Technologies to Boost the Market Growth in Japan
7.4.4 Rest of Asia Pacific
7.5 Middle East and Africa
7.5.1 Nigeria
7.5.1.1 Government Initiatives Combined With Cooperation With Other Countries to Boost the Smart Railways Market Growth in Nigeria
7.5.2 Turkey
7.5.2.1 Government Initiatives to Drive the Market Growth in Turkey
7.5.3 Rest of Middle East and Africa
7.6 Latin America
7.6.1 Brazil
7.6.1.1 High Scope for Further Development of Railway Infrastructure to Boost High-Growth Opportunities in Brazil
7.6.2 Mexico
7.6.2.1 Strategic Location to Play Key Role in Development of Railway Infrastructure in Mexico
7.6.3 Rest of Latin America
8 Competitive Landscape (Page No. - 113)
8.1 Competitive Leadership Mapping
8.1.1 Visionary Leaders
8.1.2 Innovators
8.1.3 Dynamic Differentiators
8.1.4 Emerging Companies
8.2 Ranking of Top Players in the Smart Railways Market, 2019
9 Company Profiles (Page No. - 116)
9.1 Introduction
9.2 Alstom
(Business Overview, Solutions and Services Offered, Recent Developments, and MnM View)*
9.3 Cisco Systems
9.4 Wabtec
9.5 ABB
9.6 IBM
9.7 Hitachi
9.8 Huawei Technologies
9.9 Indra
9.10 Siemens
9.11 Honeywell
9.12 Bombardier
9.13 Thales
9.14 Advantech
9.15 Fujitsu
9.16 Toshiba
9.17 Alcatel-Lucent Enterprises
9.18 Moxa
9.19 EKE-Electronics
9.20 Televic
9.21 Aitek S.P.A.
*Details on Business Overview, Solutions and Services Offered, Recent Developments, and MnM View Might Not be Captured in Case of Unlisted Companies.
10 Appendix (Page No. - 158)
10.1 Discussion Guide
10.2 Knowledge Store: Marketsandmarkets Subscription Portal
10.3 Available Customizations
10.4 Related Reports
10.5 Author Details
List of Tables (102 Tables)
Table 1 United States Dollar Exchange Rate, 20162018
Table 2 Factor Analysis
Table 3 Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 4 Solutions: Market Size By Type, 20172024 (USD Million)
Table 5 Solutions: Market Size By Region, 2017 2024 (USD Million)
Table 6 Passenger Information System: Smart Railways Market Size, By Type, 20172024 (USD Million)
Table 7 Passenger Information System: Market Size By Region, 20172024 (USD Million)
Table 8 Multimedia Information and Entertainment Market Size, By Region, 20172024 (USD Million)
Table 9 Network Connectivity Market Size, By Region, 20172024 (USD Million)
Table 10 Freight Management System: Market Size By Type, 20172024 (USD Million)
Table 11 Freight Management System: Market Size By Region, 20172024 (USD Million)
Table 12 Freight Operation Management Market Size, By Region, 20172024 (USD Million)
Table 13 Freight Tracking Market Size, By Region, 20172024 (USD Million)
Table 14 Security and Safety Solutions: Smart Railways Market Size, By Type, 20172024 (USD Million)
Table 15 Security and Safety Solutions: Market Size By Region, 20172024 (USD Million)
Table 16 Video Surveillance and Analytics Market Size, By Region, 20172024 (USD Million)
Table 17 Intrusion Detection Market Size, By Region, 20172024 (USD Million)
Table 18 Access Control Market Size, By Region, 20172024 (USD Million)
Table 19 Fire Alarm and Voice Evacuation Market Size, By Region, 20172024 (USD Million)
Table 20 Others Market Size, By Region, 20172024 (USD Million)
Table 21 Rail Communication and Networking System: Market Size By Type, 20172024 (USD Million)
Table 22 Rail Communication and Networking System: Market Size By Region, 20172024 (USD Million)
Table 23 Ground-To-Train Communication Market Size, By Region, 20172024 (USD Million)
Table 24 Train-To-Train Communication Market Size, By Region, 20172024 (USD Million)
Table 25 Smart Ticketing System: Smart Railways Market Size, By Region, 20172024 (USD Million)
Table 26 Rail Analytics System: Market Size By Region, 20172024 (USD Million)
Table 27 Rail Asset Management and Maintenance Solutions: Market Size By Type, 20172024 (USD Million)
Table 28 Rail Asset Management and Maintenance Solutions: Market Size By Region, 20172024 (USD Million)
Table 29 Asset Planning and Scheduling Market Size, By Region, 20172024 (USD Million)
Table 30 Workforce Management and Optimization Market Size, By Region, 20172024 (USD Million)
Table 31 Condition-Based Monitoring Market Size, By Region, 20172024 (USD Million)
Table 32 Predictive Maintenance Market Size, By Region, 20172024 (USD Million)
Table 33 Others Market Size, By Region, 20172024 (USD Million)
Table 34 Rail Operation and Control Solutions: Smart Railways Market Size, By Region, 20172024 (USD Million)
Table 35 Smart Railways Market Size, By Service, 20172024 (USD Million)
Table 36 Services: Market Size By Region, 20172024 (USD Million)
Table 37 Professional Services: Market Size By Type, 20172024 (USD Million)
Table 38 Professional Services: Market Size By Region, 20172024 (USD Million)
Table 39 Consulting Market Size, By Region, 20172024 (USD Million)
Table 40 System Integration and Deployment Market Size, By Region, 20172024 (USD Million)
Table 41 Support and Maintenance Market Size, By Region, 20172024 (USD Million)
Table 42 Managed Services: Market Size By Region, 20172024 (USD Million)
Table 43 Smart Railways Market Size, By Region, 20172024 (USD Million)
Table 44 North America: Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 45 North America: Market Size By Solution, 20172024 (USD Million)
Table 46 North America: Market Size By Passenger Information System, 20172024 (USD Million)
Table 47 North America: Market Size By Freight Management System, 20172024 (USD Million)
Table 48 North America: Market Size By Security and Safety Solution, 20172024 (USD Million)
Table 49 North America: Market Size By Rail Communication and Networking System, 20172024 (USD Million)
Table 50 North America: Market Size By Rail Asset Management and Maintenance Solution, 20172024 (USD Million)
Table 51 North America: Market Size By Service, 20172024 (USD Million)
Table 52 North America: Market Size By Professional Service, 20172024 (USD Million)
Table 53 North America: Market Size By Country, 20172024 (USD Million)
Table 54 United States: Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 55 United States: Market Size By Solution, 20172024 (USD Million)
Table 56 United States: Market Size By Passenger Information System, 20172024 (USD Million)
Table 57 United States: Market Size By Freight Management System, 20172024 (USD Million)
Table 58 United States: Market Size By Security and Safety Solution, 20172024 (USD Million)
Table 59 United States: Market Size By Rail Communication and Networking System, 20172024 (USD Million)
Table 60 United States: Market Size By Rail Asset Management and Maintenance Solution, 20172024 (USD Million)
Table 61 United States: Market Size By Service, 20172024 (USD Million)
Table 62 United States: Market Size By Professional Service, 20172024 (USD Million)
Table 63 Europe: Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 64 Europe: Market Size By Solution, 20172024 (USD Million)
Table 65 Europe: Market Size By Passenger Information System, 20172024 (USD Million)
Table 66 Europe: Market Size By Freight Management System, 20172024 (USD Million)
Table 67 Europe: Market Size By Security and Safety Solution, 20172024 (USD Million)
Table 68 Europe: Market Size By Rail Communication and Networking System, 20172024 (USD Million)
Table 69 Europe: Market Size By Rail Asset Management and Maintenance Solution, 20172024 (USD Million)
Table 70 Europe: Market Size By Service, 20172024 (USD Million)
Table 71 Europe: Market Size By Professional Service, 20172024 (USD Million)
Table 72 Europe: Market Size By Country, 20172024 (USD Million)
Table 73 Asia Pacific: Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 74 Asia Pacific: Market Size By Solution, 20172024 (USD Million)
Table 75 Asia Pacific: Market Size By Passenger Information System, 20172024 (USD Million)
Table 76 Asia Pacific: Market Size By Freight Management System, 20172024 (USD Million)
Table 77 Asia Pacific: Market Size By Security and Safety Solution, 20172024 (USD Million)
Table 78 Asia Pacific: Market Size By Rail Communication and Networking System, 20172024 (USD Million)
Table 79 Asia Pacific: Market Size By Rail Asset Management and Maintenance Solution, 20172024 (USD Million)
Table 80 Asia Pacific: Market Size By Service, 20172024 (USD Million)
Table 81 Asia Pacific: Market Size By Professional Service, 20172024 (USD Million)
Table 82 Asia Pacific: Market Size By Country, 20172024 (USD Million)
Table 83 Middle East and Africa: Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 84 Middle East and Africa: Market Size By Solution, 20172024 (USD Million)
Table 85 Middle East and Africa: Market Size By Passenger Information System, 20172024 (USD Million)
Table 86 Middle East and Africa: Market Size By Freight Management System, 20172024 (USD Million)
Table 87 Middle East and Africa: Market Size By Security and Safety Solution, 20172024 (USD Million)
Table 88 Middle East and Africa: Market Size By Rail Communication and Networking System, 20172024 (USD Million)
Table 89 Middle East and Africa: Market Size By Rail Asset Management and Maintenance Solution, 20172024 (USD Million)
Table 90 Middle East and Africa: Market Size By Service, 20172024 (USD Million)
Table 91 Middle East and Africa: Market Size By Professional Service, 20172024 (USD Million)
Table 92 Middle East and Africa: Market Size By Country, 20172024 (USD Million)
Table 93 Latin America: Smart Railways Market Size, By Offering, 20172024 (USD Million)
Table 94 Latin America: Market Size By Solution, 20172024 (USD Million)
Table 95 Latin America: Market Size By Passenger Information System, 20172024 (USD Million)
Table 96 Latin America: Market Size By Freight Management System, 20172024 (USD Million)
Table 97 Latin America: Market Size By Security and Safety Solution, 20172024 (USD Million)
Table 98 Latin America: Market Size By Rail Communication and Networking System, 20172024 (USD Million)
Table 99 Latin America: Market Size By Rail Asset Management and Maintenance Solution, 20172024 (USD Million)
Table 100 Latin America: Market Size By Service, 20172024 (USD Million)
Table 101 Latin America: Market Size By Professional Service, 20172024 (USD Million)
Table 102 Latin America: Market Size By Country, 20172024 (USD Million)
List of Figures (42 Figures)
Figure 1 Smart Railways Market: Research Design
Figure 2 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue of Solutions/Services of the Smart Railways Market
Figure 3 Market Size Estimation Methodology: Approach 1 Bottom-Up (Supply Side): Collective Revenue of All Solutions/Services of the Market
Figure 4 Market Size Estimation Methodology: Approach 2 Top-Down (Demand Side): Share of the Smart Railways Market Through Overall Railway Spending
Figure 5 Competitive Leadership Mapping: Criteria Weightage
Figure 6 Smart Railways Market Size, 20172024
Figure 7 Solutions Segment to Lead the Market in 2019
Figure 8 Rail Communication and Networking System Segment to Account for the Largest Market Size in 2019
Figure 9 Professional Services Segment to Lead the Market in 2019
Figure 10 Smart Railways Market: Regional Snapshot
Figure 11 Asia Pacific to Grow at the Highest CAGR From 2019 to 2024
Figure 12 Demand of Autonomous Trains for Transportation to Provide Opportunities for Market Growth During the Forecast Period
Figure 13 Solutions Segment and the United Kingdom to Lead the Market in 2019
Figure 14 India to Grow at the Fastest Growth Rate During the Forecast Period
Figure 15 Smart Railways Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Evolution of Smart Railways
Figure 17 Smart Railways Market: Value Chain Analysis
Figure 18 Services Segment to Grow at a Higher CAGR During the Forecast Period
Figure 19 Smart Ticketing System Segment to Hold the Largest Market Size By 2024
Figure 20 Multimedia Information and Entertainment Segment to Grow at a Higher CAGR During the Forecast Period
Figure 21 Freight Tracking Segment to Grow at a Higher CAGR From 2019 to 2024
Figure 22 Video Surveillance and Analytics Segment to Grow at the Highest CAGR During the Forecast Period
Figure 23 TrainToTrain Communication Segment to Grow at a Higher CAGR During 20192024
Figure 24 Predictive Maintenance Segment to Grow at the Highest CAGR From 2019 to 2024
Figure 25 Managed Services Segment to Grow at a Higher CAGR During 20192024
Figure 26 Support and Maintenance Segment to Grow at the Highest CAGR During the Forecast Period
Figure 27 Europe to Hold the Highest Market Share During the Forecast Period
Figure 28 Asia Pacific to Grow at the Fastest Growth Rate During the Forecast Period
Figure 29 Europe: Market Snapshot
Figure 30 Asia Pacific: Market Snapshot
Figure 31 Smart Railways Market (Global) Competitive Leadership Mapping, 2019
Figure 32 Ranking of Top Market Players, 2019
Figure 33 Alstom: Company Snapshot
Figure 34 Cisco Systems: Company Snapshot
Figure 35 Wabtec: Company Snapshot
Figure 36 ABB: Company Snapshot
Figure 37 IBM: Company Snapshot
Figure 38 Hitachi: Company Snapshot
Figure 39 Huawei Technologies: Company Snapshot
Figure 40 Indra: Company Snapshot
Figure 41 Siemens: Company Snapshot
Figure 42 Honeywell: Company Snapshot
The study consisted of four major activities to estimate the current market size of the smart railways 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 market 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. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the smart railways market.
Secondary Research
In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg BusinessWeek were referred to for identifying and collecting information for the study. 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; Research and Development (R&D) organizations; regulatory bodies; and databases. The data was also collected from secondary sources, such as OECD and International Railway Journal, and information from Railway Gazette International and the US DoT. Additionally, railway investment and spending of various countries were extracted from their respective transportation associations, such as Sociιtι Nationale Des Chemins De Fer Franηais (SNCF), Taiwan Railways Administration, Passenger Rail Agency of South Africa, European Rail Freight Association, and European Union Agency for Railways.
Primary research
Various primary sources from both supply and demand sides of the smart railways market were interviewed to obtain qualitative and quantitative information for the study. 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 vendors of smart railways market solutions, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Following is the profile breakup of primary respondents:
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the smart railways market. These methods were used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- Key players in the market were identified through extensive secondary research.
- The market size, in terms of value, was determined through primary and secondary research processes.
- All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.
Data Triangulation
With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using the study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Report objectives
- To define, describe, and forecast the smart railways market by offering (solution and service) and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
- To analyze 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 five main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To profile key players and comprehensively analyze their market rankings and core competencies
- To analyze competitive developments, such as mergers and acquisitions; new product launches and product enhancements; expansions; joint ventures, agreements, contracts, collaborations, and partnerships; and Research and Development (R&D) activities, in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the Canada Smart Railways Market, by Offering
- Further breakdown of the UK Smart Railways Market, by Offering
- Further breakdown of the China Smart Railways Market, by Offering
Company Information
- Detailed analysis and profiling of additional market players up to 5
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- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Smart Railways Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Smart Railways Market
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Understand the Passenger Information Display System, Public Announcement system, Disaster Warning system, CCTV, Security systems.
Gather insights into Vendor Evaluations, Project Management Unit, Program Management, Bid Management, Project Monitoring & Auditing.
Gather insights into Passenger Information Systems, Wayside information Systems, Signalling and Train control, Rolling Stock.
Gather insights into Energy and Power, Biotechnology, Medical Devices, Semiconductor and Electronics, Automation and Process Control, Telecom and IT, Automotive and Transportation, Engineering Equipment & Devices.