North America is expected to be the dominant market followed by Asia Pacific because, most of south Asian countries are moving forward to adopt automated solutions in railway sectors.
New York, NY -- (SBWIRE) -- 04/10/2018 -- Railway is vital service to society and backbone of the transportation across the globe. Railway infrastructure is growing with tremendous speed in every part of the world. With increasing infrastructure development and society's dependency on railway, railway administration across the globe is more focused to find and implement cost-effective solutions capable of increasing punctuality, safety-security and capacity of rails.
In this highly advanced and technological era, automated systems has been developed which can fulfill these requirements. In most of the countries, railways sector is nationalized (governed by the government of the country), and governments announce tenders or organize bids to award contracts based on their specific requirement and criterions, so IT vendors are more focused to provide cost effective and specific/tailor-made solutions.
Global Railway Management System Market: Drivers and Challenges
High demographic growth and increasing urbanization across the developing nations are the factors driving the growth of global railway management market followed by infrastructure saturation that creates demand for more efficient and safe solutions to increase railway capacity. Other driving factors including technological advancement, adoption of IoT, cloud models and other automated models to enhance optimization.
Also, increasing government efforts and partnership with IT vendors to deploy automated models in order to increase efficiency of the infrastructures is the main driving factor behind the growth of global railway management systems market. On the other hand there are some restraining factors hampering the growth of global railway management systems market; high initial cost of deployment, different safety compliances of different regions, complex interoperability are few of them.
Global Railway Management System Market: Segmentation
Global railway management system market is segmented on the basis of solutions, services, deployment model and regions. On the basis of solutions, global railway management systems market is segmented into train planning and operation management, train asset management systems, train control systems and train maintenance management systems.
On the basis of services, global railway management systems market is segmented into consulting services, systems integration and deployment services, maintenance & support services and other managed services.
On the basis of solution deployment model, global railway management system market is segmented into on-premise and cloud based solutions. Among aforementioned deployment models, cloud based model is more dominant over the on-premise one.
On the basis of region, global railway management system market is segmented into seven regions: North America, Latin America, Western Europe, Eastern Europe, MEA, Asia Pacific Excluding Japan and Japan. Among aforementioned regions, North America is expected to be the dominant market followed by Asia Pacific because, most of south Asian countries are moving forward to adopt automated solutions in railway sectors.
Few of the recent deals with the government and Solution provider are- In December 2014, ALSTOM (French Rail Transport Company) successfully delivered signaling systems to Hong Kong's MTR1 West Island metro line and in 2017, Hong Kong government awarded another contract of revenue service for South Island Line to the same company ALSTOM. Some of the key players of global railway management system market are Thales Groups, ALSTOM, Indra Sistemas, Cisco Systems, Inc., Ansaldo STS, IBM Corporation, ABB Ltd, Computer Sciences Corporation, Alcatel-Lucent, GE Transportation, Hitachi Ltd, Bombardier Inc., Huawei Technologies Co. Ltd. And others.
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