The global smart railways market is growing exponentially across North America, Europe, Asia Pacific, and rest of the World. In Europe, the smart railways market is experiencing a huge demand due to increasing penetration of advanced technologies. Smart railways are integrated with the sensors via smart devices. These smart devices use artificial neural networks that can collect the data to evaluate ride quality of trains and provide feedback to improve the services. Furthermore, the increasing mobility and innovations in the Information Technology with respect to railway infrastructure is hampering the growth of smart railways market.
The inclination of governments towards the adoption of smart city projects is widely observed, which also includes smart railways and smart hospitals. The implementation of smart railways offers automated infrastructure for operations, management, and maintenance of rail transportation. However, lack of information & communication technology infrastructure may adversely impact the growth of smart railway. The information and communication technology combines hardware and software products that ensure intelligent use of all rail assets
Global Smart Railways Market is estimated to reach USD ~27.31 billion by the end of the forecast period of 2024, at a CAGR of approximately ~13.38%
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global Smart railways Market Research Report – Forecast till 2024”.
Global Smart Railways Market, Key Players
The prominent players in the global smart railways market are Alstom SA (France), Cisco Systems, Inc. (U.S.), General Electric Inc. (U.S.), International Business Machines Corporation (U.S.), Hitachi Limited (Japan), Huawei Technologies Co. Ltd. (China), Siemens AG (Germany), Bombardier, Inc. (Canada), Indra Sistemas SA (Spain), Teleste (Finland) among others.
Global Smart railways Market Segmentation
The global smart railways market is segmented on the basis of the type, component, solution, services, and region. The type segment is further sub-segmented into station and onboard type. The component is sub-segmented into the multimedia infotainment displays, video surveillance cameras, and networking & connectivity devices. The solutions are segmented into advanced security monitoring systems, passenger information systems, rail communication & networking systems, freight information systems, rail analytics systems, and smart ticketing systems. The services are segmented into system integration & deployment, consulting services, and support & maintenance. The market is covered across regions including North America, Europe, Asia Pacific, and Rest of the World.
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