Digital Railway Market

Key players adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global Digital Railway Market

The global digital railway market size to grow from USD 50.0 billion in 2019 to USD 74.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 8.4% during 2019–2024 The demand for digital railway is driven by the ongoing smart city initiatives and increasing Public-Private Partnership (PPP) model. Contractual agreements have been signed between public agencies and private sector organizations allowing the private sector to participate in government initiatives for delivering and financing transportation projects. There has been significant investments in the technology projects worldwide for infrastructure modernization and rail automation. In addition, adoption of IoT and automation technologies, hyper-urbanization, and green initiatives are also contributing to the growth of digitization in railways.

Key and emerging market players include Siemens(Germany), Cisco (US), Hitachi (Japan), Altsom (France), IBM (US), ABB (Swithzerland), Huawei (China), Thales (France), Fujitsu (Japan), DXC (US), Indra (Spain), Nokia (Finland), Atkins (UK), Toshiba (Japan), Bombardier (Canada). These players have adopted various strategies to grow in the digital railway. These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global Digital Railway Market. New product launches, partnerships, and agreements have been the most adopted strategies by the major players from 2016 to 2019, which helped them innovate their offerings and broaden their customer base.

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Siemens (Germany) 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 in the digital railway space offers, Trainguard European Train Control System (ETCS) portfolio, Nexus Lodestar Driver Advisory System (DAS), NexusRemote Condition Monitoring (RCM), and NexusConnect. These solutions improve connectivity, ease congestion, and reduce pollution.

Cisco (US) offers integrated solutions that span networks, data centers, cloud, security, collaboration, analytics, and Internet of Things (IoT). Its products and technologies are grouped into infrastructure platforms, applications, security, and other products. In addition to its product offerings, it provides a broad range of service offerings. Increasingly, the company is delivering technologies through software and services. Its customers include public institutions, governments, and service providers.

The company offers Cisco 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. Cisco Connected Rail focuses its solutions on 3 major areas, namely, station, trackside, and train.

Related Reports:

Digital Railway Market by Offering (Solutions and Sevices) , Application Type (Rail Operations Management, Passenger Experience, and Asset Management) , Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2024

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Report Code
TC 7351
RI Published ON
9/9/2019
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