Ocean View, DE -- (SBWire) -- 04/22/2020 --The Asia Pacific railway management system market is projected to witness exponential growth in the years to come, primarily powered by the surging number of strategic initiatives adopted by regional governments to up the economic ante of the continent. That said, the increasing GDP of the Asian nations and the vast majority of smart city initiatives that typically revolve around the region's public transportation networks are also expected to boost APAC railway management system industry.

According to a 2018 report by The Economic Times, under the Indian Government's smart city initiative the total amount of investment proposed across 4,500 projects in over 99 cities was approximately INR 203,979 crores with a large chunk of it being utilized in development of smart stations. Attributing to these factors, the APAC railway management system market is anticipated to register a CAGR of 14% over 2018-2024.

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The transportation infrastructure in a few countries within the region is still developing with multiple companies investing strategically owing to the massive growth potential in the region which has been driving the demand for the product. For instance, China Railway Corp had invested USD 112 billion in the country's railway system for the development of its rail network.

Rapid digitalization within the railway industry has resulted in increased adoption of IoT which will drive global railway management system market trends over the forecast timeframe. The technology helps the rail operators to obtain proper information regarding the location of the train and ensure the passenger's safety. It regulates the train's speed automatically basing it on real-time information which lowers the chances for any collision and encourages its adoption.

There are several factors like changing demographics, microeconomic & macroeconomic conditions, growing importance of sustainability, and emerging smart cities accompanied by the booming telecommunication sector and the need for mobility have been fostering railway management system market size over the years.

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Railway firms in several countries have been involved in the development of programs and digitalization initiatives like Shift2Rail PPP and UIC digital platform in order to promote railway's digital transformation. With growing passenger expectations in an increasingly competitive market, the train operating firms are constantly making efforts to satisfy the passengers by not just delivering arrival and departure timings, but more.

With the rapid deployment of digital technologies in the railways sector, the consumers are being delivered value-added services with enhanced customer experience, safety, reliability, efficiency as well as the total performance of the railway which is fostering the growth of the railway management system market.

Table of Contents (ToC) of the report:

Chapter 5. Railway Management System Market, By Component
5.1. Railway Management System Market Key trends, by component
5.2. Solution
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Rail operation management system
5.2.2.1. Market estimates and forecast, 2013-2024
5.2.2.2. Facility management solution
5.2.2.2.1. Market estimates and forecast, 2013-2024
5.2.2.3. Revenue management solution
5.2.2.3.1. Market estimates and forecast, 2013-2024
5.2.2.4. Ticketing management solution
5.2.2.4.1. Market estimates and forecast, 2013-2024
5.2.2.5. Workforce management solution
5.2.2.5.1. Market estimates and forecast, 2013-2024
5.2.2.6. Rail automation management solution
5.2.2.6.1. Market estimates and forecast, 2013-2024
5.2.3. Rail traffic management system
5.2.3.1. Market estimates and forecast, 2013-2024
5.2.3.2. Intelligent signaling solution
5.2.3.2.1. Market estimates and forecast, 2013-2024
5.2.3.3. Real-time train planning and route scheduling solution
5.2.3.3.1. Market estimates and forecast, 2013-2024
5.2.3.4. Centralized traffic control solution
5.2.3.4.1. Market estimates and forecast, 2013-2024
5.2.4. Rail asset management system
5.2.4.1. Market estimates and forecast, 2013-2024
5.2.4.2. Train information solution
5.2.4.2.1. Market estimates and forecast, 2013-2024
5.2.4.3. Track monitoring solution
5.2.4.3.1. Market estimates and forecast, 2013-2024
5.2.5. Rail control system
5.2.5.1. Market estimates and forecast, 2013-2024
5.2.5.2. Positive train control solution
5.2.5.2.1. Market estimates and forecast, 2013-2024
5.2.5.3. Communication-based train control solution
5.2.5.3.1. Market estimates and forecast, 2013-2024
5.2.5.4. Integrated control system
5.2.5.4.1. Market estimates and forecast, 2013-2024
5.2.6. Rail maintenance management system
5.2.6.1. Market estimates and forecast, 2013-2024
5.2.6.2. Vehicle maintenance scheduling solution
5.2.6.2.1. Market estimates and forecast, 2013-2024
5.2.6.3. Predictive analytics for maintenance management solution
5.2.6.3.1. Market estimates and forecast, 2013-2024
5.2.7. Passenger Information System (PIS)
5.2.7.1. Market estimates and forecast, 2013-2024
5.2.8. Rail security
5.2.8.1. Market estimates and forecast, 2013-2024
5.2.9. Others
5.2.9.1. Market estimates and forecast, 2013-2024
5.3. Service
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Training and Consulting
5.3.2.1. Market estimates and forecast, 2013-2024
5.3.3. System integration and deployment
5.3.3.1. Market estimates and forecast, 2013-2024
5.3.4. Support and maintenance
5.3.4.1. Market estimates and forecast, 2013-2024

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