The report "Connected Rail Market by Service (Passenger Mobility, PIS, Train Tracking & Monitoring, Automated Fare Collection System, Predictive maintenance), Rail signaling system (PTC, CBTC & ATC), Rolling Stock, and Region - Global forecast to 2022", The global connected rail market is estimated to be USD 77.27 Billion in 2017 and is projected to grow at a CAGR of 6.42% from 2017 to 2022, to reach USD 105.44 Billion by 2022. The major factors behind the growth of connected rail markets is the continuous need for safety and security in railways, commutator convenience, growing economy, and increasing population.
Browse 63 market data tables and 44 figures spread through 174 pages and in-depth TOC on "Connected Rail Market by Service (Passenger Mobility, PIS, Train Tracking & Monitoring, Automated Fare Collection System, Predictive maintenance), Rail signaling system (PTC, CBTC & ATC), Rolling Stock, and Region - Global forecast to 2022"
Early buyers will receive 10% customization on reports.
CBTC system to hold the largest share in the connected rail market, by safety and signaling system type
The CBTC technology is estimated to account for the largest share in the global connected rail market. This technology enables complete flexibility in terms of operational schedules or timetables and offers rail operators to respond to the specific traffic demand more swiftly and efficiently and to solve traffic congestion problems. Moreover, modern CBTC are coupled with Automated Train Control (ATC), which are majorly used for automated signaling in metro rail across the globe.
Predictive maintenance: Reduce downtime and increase in safety are driving the market for predictive maintenance
Predictive maintenance is expected to constitute the largest share, in term of value, in the global connected rail market. About, 30 percent of initial delays are due to the malfunctioned rolling stock and infrastructure parts, whereas 75% of locomotives are unexpectedly taken for service repairs at least for four-week period. These issues can be addressed through the predictive maintenance. This technology majorly attributed to the growing need of less maintenance, less downtime, more revenue in the railway industry. It has triggered the demand for connected rail market, from consumer side. The demand is expected to increase in developing and developed countries such as the U.S., Germany, France, China, Japan, and India where major rail and technology manufacturers are located.
Europe: Leading the connected rail market
Europe is estimated to account for the largest share, in terms of value, of the connected rail market in 2017. The region comprises developed economies in the world, including Germany, U.K., France, Spain and Italy. Rail transport in Europe is the largest absolute industry for rail products and services, with the high tech rolling stock segment which represents the largest part of this market. About 84% of the European market for rail parts and services are met by the European rail supply industry.
The major players in the connected rail market are Bombardier Inc. (Canada), Alstom SA (France), Siemens AG (Germany), Hitachi Limited (Japan), Robert Bosch GmbH (Germany), Huawei (China), Cisco Systems Inc. (U.S.), Wabtec Corporation (U.S.), and Nokia Corp. (Finland) etc.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]