MarketsandMarkets forecasts the "Rail Asset Management Market by Offering (Solutions (Condition Monitoring, Predictive Maintenance, Security, Asset Planning & Scheduling) and Services), Application (Rolling Stock and Infrastructure), Deployment Mode, and Region - Global Forecast to 2025", size to grow from USD 9.4 billion in 2020 to USD 12.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.9% forecast period. Rail asset management solutions have spurred tremendous growth opportunities for technology vendors and various associated service providers. With the growing number of government initiatives toward the development of smart transportation, rail asset management vendors taking center stage, technology providers, and consultants have aggressively started simulating innovative solutions based on conceptual modules for the designing and development of rail infrastructure.
Browse 253 market data Tables and 51 Figures spread through 249 Pages and in-depth TOC on "Rail Asset Management Market by Offering (Solutions (Condition Monitoring, Predictive Maintenance, Security, Asset Planning & Scheduling) and Services), Application (Rolling Stock and Infrastructure), Deployment Mode, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/rail-asset-management-market-222416351.html
Factors contributing to the high growth rate in these regions are the increasing need for efficient rail operations, rising PPP model and government initiatives, growing population and hyper-urbanization, and increasing congestion due to aging railway infrastructure. These factors are also expected to shape the future of the global rail asset management market. However, the market also faces several challenges, including the high initial cost of deployment and integration complexities with the legacy infrastructure.
The solutions segment to hold a larger market size during the forecast period
Based on offering, the solutions segment of the rail asset management market is projected to hold a larger market size during the forecast period. The solutions segment in the rail asset management market is further segmented into asset performance management, analytics, asset planning and scheduling, security, workforce management, network management, and others (incident management, warranty management, and material management). The incorporation of various asset management solutions for the railway industry enables rail organizations to improve the complete asset lifecycle of both rolling stock and rail infrastructure.
By application, the infrastructure segment to record a higher growth rate during the forecast period
Railway infrastructure includes various systems, such as earthworks, bridges, tunnels, steelwork, timber, and track systems that form the base upon which the railway runs. The asset management system can enhance the efficiency and safety of these systems. Asset management comprises all systems, procedures, and tools that maximize asset availability for a minimum whole-life cost and risk, some of the activities in infrastructure asset management include route plans that involve activities, resources, and timescales for interventions on the infrastructure, detailed plans to optimize the delivery of renewals maintenance, and enhancement. Many rail operators are investing significantly in the rail infrastructure.
Asia Pacific to record the highest growth during the forecast period
The APAC rail asset management market is estimated to have strong growth in the future. The APAC region is witnessing high growth due to the increasing adoption of new technologies, the rising investments for digital transformation, and the growing GDP in APAC countries. A majority of potential economies in the region include Australia, Singapore, China, Korea, Hong Kong, and India, which are said to be rapidly investing in the rail technological transformation.
Major vendors in the rail asset management market include Siemens (Germany), Hitachi (Japan), Alstom (France), IBM (US), Wabtec (US), SAP (Germany), Capgemini (France), Cisco (US), Huawei (China), Accenture (Ireland), Trimble (US), Bentley Systems (US), Atkins (UK), DXC Technology (US), Trapeze Group (Canada), WSP (Canada), Tego (US), KONUX (Germany), L&T Technology Services (India), Cyient (India), Assetic (Australia), Machines With Vision (UK), Uptake (US), Delphisonic (US), ZEDAS (Germany), and OXplus (Netherlands).
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 7500 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, "Knowledgestore" 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.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441