Pune, India -- (SBWIRE) -- 09/13/2018 -- The factors driving Smart Railways market include increasing demand for cloud-based services, the growing rate of hyper-urbanization, adoption of the Internet of Things are encouraging the demand for smart railways and influencing the market growth. Smart railways offer new generation solutions, services and modern transportation with the help of information and communication technology. Advancements in networking, artificial intelligence, and big data analytics have set the pace for the market growth of smart railways. Cisco Systems, Inc., General Electric, ABB Ltd., IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Siemens AG, are some of the leading providers of smart railways solution. To meet the increasing consumer demand for efficient and safer commute, the smart railways offers advanced and reliable service to the passengers. The global infrastructure development, expanding economy, and increasing global demographics are also propelling the demand for the smart railway. The smart railways provide improved operational efficiency, passenger experience and a high return on investments.

The key players of smart railways market include Alstom SA, Cisco Systems, Inc., General Electric, IBM Corporation, Hitachi Limited, Huawei Technologies Co. Ltd., Siemens AG, Bombardier, Inc., Indra Sistemas SA, and Teleste.

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In smart railways market, the type is segmented into stations type and by onboard (in rail) type. At the station, the smart railway offers better passenger amenities and IT infrastructure to enhance the traveling experience of the customers. The smart railway is likely to gain huge demand in the forthcoming years due to increasing adoption of the latest technology and cloud service.

The increasing demand for cloud-based services is propelling the growth of smart railways market. The smart railways are integrated with sensors and computing resources. With the adoption of technologies including virtualization, cognitive computing, analytical and predictive modeling, and others, the market has grown to a great extent. Cognitive computing along with machine learning algorithms are used for intelligent asset management in the railway industry. On Sep 13, 2016, Herzog Technologies, a leader in the railroad signal and communications industry, entered into a partnership with Red Hat to provide cost-effective, open source, and cloud-based positive train control (PTC) technology services in order to deliver a more efficient performance.

The global smart railways market was valued at USD 11.56 billion in the year 2017, which is expected to reach USD 27.31 billion by the end of the forecast period growing at ~13.38% CAGR.

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Global Smart Railways Market Analysis & Forecast, from 2017 to 2024

-To provide a detailed analysis of the market structure along with the forecast for the next ten years of the various segments and sub-segments included in global smart railways market with analysis of its development and demand in the market

-Upcoming technologies, high growth geographies, and countries were identified  

-Regional and country-specific demand and forecast for smart railways were studied

-Key segments covered in the report are component, services, solution, and application.

-Unit breakdown for all different classification was finalized and the same was referred for forecasting, keeping few assumptions into factor

-For all the regions, forecast demand for all applications was identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size

-Historical trend is identified to forecast and estimate the future value data .

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