1. Market Research
  2. > Business Services
  3. > Consulting Market Trends
Smart Railways Market - Growths, Trends, Forecasts (2020 - 2025)

Smart Railways Market - Growths, Trends, Forecasts (2020 - 2025)

  • August 2020
  • 152 pages
  • ID: 5962011
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Mar 10th 2021

Summary

Table of Contents

Search Inside

The Smart Railways Market was valued at USD 13.85 billion in 2019, and it is estimated to be worth USD 32.07 billion by 2025, registering a CAGR of 15.14% during the forecast period (2020 - 2025). Global trends, such as digitization, connectivity, sustainability, energy conservation, and integration of IoT, have led to the emergence of the smart railway system. The global population is expected to reach 9.8 billion by 2050, out of which 75% will dwell in cities. Hence, it has become imperative for public agencies to ensure that the transportation sector is geared to meet the growing connectivity needs.

- The growth of the “smart railway” system is expected to be primarily driven by the growing need for urban connectivity, increased integration of IoT-based solutions, and higher emphasis on reducing emissions. By 2050, it is expected that passenger mobility may increase by 200-300% and freight activity may increase by 150-250%, according to the International Transport Forum.
- This calls for the implementation of smart solutions, to provide adequate transport capacity for growing volumes of goods and people. Trends, like machine-to-machine (M2M) technology, leveraging the embedded sensors, increase in computer power, and incorporation of Big Data and the Internet of Things, are expected to pave the way for truly integrated and inter-modal transport solutions.
- Furthermore, in order to create better growth opportunities, mega-regions, which essentially are a by-product of confluence between major cities, such as the Boston-New York-Washington corridor, the São Paulo-Rio de Janeiro region, or the Hong Kong-Shenzhen-Guangzhou area of China, are expected to come into being. These regions require high levels of connectivity, which can be realized by advanced communication technologies.
- The application of analytics has also evolved in the railway infrastructure. The amount of data being generated by the rail network is driving the adoption of an analytics solution. According to leading railroad authority Lyndon Henry, over 1.5 million freight cars are handled and monitored daily by the US railroads. This creates a huge amount of data over the cloud.
- The COVID-19 impact has hit the railways industry since governments across the globe announced avoiding crowded places. This has led to an increased interest in smart solutions in the railway industry for smooth operations of railways services.

Key Market Trends
Rail Analytics System is Expected to Witness Significant Growth

- The rail network operators in developed parts of the world are actively investing in the development of analytics systems. Currently, there is a prominence of cloud-based systems. The market is witnessing a need for tools that help in maximization of intervals between certain maintenance events, like turning wheels (on a lathe) or replacing the wheel-and-axle sets on the trains, which reduce maintenance costs.
- The analytics-based solutions are expected to work in close coordination with security and surveillance systems to leverage video analytics, which is likely to help in obstacle determination, thereby, improving the overall efficiency of the railway system.
- Time-table management, capacity optimization, timely travel service, and predictive maintenance are the primary reasons for the adoption of rail analytic systems. The rail network operators in developed parts of the world are actively investing in the development of analytics systems. Currently, cloud-based systems are prominent. For instance, UK-based Network Rail recently partnered with Deloitte, to leverage the railway signaling systems to deliver 92.5% public performance measure (PPM).
- The expected software modules in smart railways are the ones with the ability to track and monitor, remotely diagnose, and maintain task management, along with data analytics, driver assistance systems, mobile technician app, and locomotive train controllers. New fuel technologies, to make railways as a more sustainable solution, are upcoming in the market. These are expected to include the usage of hydrogen, wind-turbines, or solar panels.

Asia-Pacific is Expected to Witness Significant Growth

- According to the International Union of Railways, Asia-Pacific accounted for close to 28% of the total railways’ network (in terms of length of lines). The share is majorly represented by China and India with 100,000 km and 65,000 km network. Regional governments in this region have been making concerted attempts to ”upgrade” and “revamp” the existing lines, to enhance the overall efficiency of their operations.
- Furthermore, the emergence of megacities is expected to be the highest in emerging markets of Asia-Pacific; four of the world’s existing 24 megacities are in China. It is expected that Chinese planners will merge nine cities in the Pearl River Delta, from Guangzhou to Shenzhen, to create a 26,000 sq. km urban area. This is likely to be 26 times larger than Greater London. Around USD 260 billion is expected to be spent on this project over the next four years, to integrate transport, energy, water, and telecommunication networks.
- Moreover, several banks in China are coming together to fund over USD 28 billion in public-private partnership (PPP) projects for the smart railway system. Similarly, Japan is on its way to deploying smart solutions, like providing the personal concierge for travelers, which leverages AI.
- The Shanghai Hongqiao railway station is one of the busiest railway stations in Asia, in terms of passenger throughput. In partnership with Huawei, China Mobile Shanghai launched a 5G network at the station, to incorporate a 5G digital indoor system (DIS). This is aimed at enabling passengers to log into a network supported by the system and download a 2 GB high-definition film in less than 20 seconds.

Competitive Landscape
The smart railways market is highly competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. However, with the advancement in network connectivity, along with the advanced technological growth, most of the companies are expanding their market presence across the emerging markets.

- November 2019 - Alstom signed a ten-year maintenance contract with SBB, the Swiss national railway company, to maintain SBB’s European Train Control System (ETCS), the signaling and control component of the European Rail Traffic Management System (ERTMS).
- April 2019 - At IBM’s IoT Exchange, IBM announced a collaboration with Sund & Bælt to assist in IBM’s development of an AI-powered IoT solution designed, to help prolong the lifespan of aging bridges, tunnels, highways, and railways. The new industry solution, IBM Maximo for Civil Infrastructure, further extends the IBM Maximo portfolio, while providing deep industry and task-specific functionality, to help organizations manage, monitor, and administer their infrastructure assets.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

$4250

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Wealth Management Platform Market - Growth, Trends, and Forecasts (2020 - 2025)

  • $ 4250 - $ 3825 - Get 10% off now!
  • January 2021
  • 116 pages

The Wealth Management Platform market is expected to register a CAGR of 14.37% over the forecast period from 2020 to 2025. Robust wealth management platforms offer support for a broad set of digital channels ...

  • World
  • Europe
  • Wealth Management
  • Banking
  • Industry analysis
  • High Net Worth Individuals Number
  • Store Closures

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on