MarketsandMarkets forecasts the global digital railway market size is expected to grow USD 63.0 billion in 2022 to USD 100.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.
The major vendors covered in the digital railway market Siemens(Germany), Cisco (US), Hitachi (Japan), Wabtec (US), 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), ZEDAS(Germany), r2p(Germany), Simpleway(Czech Republic), Tego(US), Assetic(Australia), OXplus(Netherlands), Passio Technologies (US), Delphisonic(US), Uptake(US), KONUX(Germany), Machines With Vision(UK).
These players have implemented various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to develop their presence in the digital railway market. The most widely used strategies by businesses have been partnerships and new product launches which helped them transform their offerings and widen their customer base.
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Siemens was founded in 1847 and is headquartered in Munich, Germany. The company specializes in electrical engineering and electronics-related products and services. It provides various road solutions, which includes traffic management, connected mobility, parking, tunnel management, Intelligent Traffic System (ITS) digital lab, electromobility, integrated logistics, enforcement and tolling, and intelligent street lighting. The company provides its customers with consulting, planning, financing, construction, service, and operation of turnkey-mobility systems. Siemens offers a robust solution portfolio for railway operations. In the digital railway market, the company offers its key mobility services called Railigent, which helps railway companies manage assets better and smarter by using predictive maintenance, helping them reduce life cycle costs through extended service and maintenance intervals. It allows condition-based monitoring that enables trains and infrastructure to become more intelligent leading to greater efficiency. The Railigent open ecosystem offers more comprehensive asset management by integrating in-house and third-party applications. At present, the Railigent open ecosystem comprises fourteen members: Dellner, DMA, Frauscher, Ginkgo Management Consulting, igus, Knorr-Bremse, Menlo79, OXplus, Perpetuum, SKF, Strukton, voestalpine Signaling, Voith, and Wi-Tronix. Railigent offers added value, such as smart security, which helps operators in analyzing their systems, identifying potential vulnerabilities, and defining and implementing measures to protect their assets.
Cisco was founded in 1984 and is headquartered in California, US. It is primarily involved in designing, manufacturing, and selling Internet Protocol (IP)-based networking devices. The company offers integrated solutions that span networks, data centers, cloud, security, collaboration, analytics, and IoT. The company products and technologies are grouped into infrastructure platforms, applications, security, and other products. In addition to its product offerings, it gives a broad range of service offerings. Increasingly, the company is delivering technologies through software and services. Its customers consist of public institutions, governments, and service providers. The company offers Connected Rail solution for railways and other mobile transit environments. The solution provides onboard and off-board IP-based communications, including Wi-Fi services, video surveillance, passenger information and entertainment, and automated operations.
Digital Railway Market by Offering (Solutions (Remote Monitoring, Network Management, Security, Analytics) and Services), Application (Rail Operations Management, Passenger Information System, and Asset Management) and Region - Global Forecast to 2027
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