The smart railways market size is estimated to grow from USD 5.34 Billion in 2015 to USD 13.77 Billion by 2020, at a CAGR of 20.8% from 2015 to 2020. With the growing population across the world, there is a tremendous demand from the end users for fast, reliable, and efficient rail services. The existing rail infrastructure needs to undergo transformation due its lack of operational efficiency and reliability and security issues. Smart railways solutions and services redefine the intelligent use rail assets and, rail network communication by combining Information And Communication Technolology (ICT) with smart transportation systems. The report aims at estimating the market size and future growth potential of the market across different segments such as solutions, services, and regions. The base year considered for the study is 2014 and the forecast period is from 2015 to 2020. Demographic growth and hyper-urbanization are expected to play key roles in fueling the growth of the market during the forecast period.
The research methodology used to estimate and forecast the smart railways market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and sub-segments which are then verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, Directors, and executives. This data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments. The breakdown of profiles of primary is depicted in the below figure:
Smart Railways Market
The smart railways ecosystem comprises of vendors such as Alstom SA, Cisco Systems Inc., General Electric Company, Hitachi, Ltd. IBM, ABB Ltd., Bombardier, Inc., Huawei Technologies Co. Ltd., Indra Sistemas, S.A., Siemens AG.
Target audience
- Railway operations management solution vendors
- Transportation technology solution providers
- Rail infrastructure hardware and devices suppliers
- Railway management support services providers
- Railway management companies (private/public)
- Government authorities related to railway infrastructure services
- Network and systems integrators
- Independent software vendors
- Value-Added Resellers (VARs) and distributors
Scope of the Report
The research report segments the smart railways market to following submarkets:
By Solution:
- Passenger Information System (PIS)
- Freight Information System
- Advance Security Monitoring System
- Rail Communication and Networking System
- Smart Ticketing System
- Rail Analytics System
By Service:
- Professional Services
- Integration Services
- Cloud Services
By Region:
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- Latin America
