The Global Smart Railways Market is growing at a CAGR of 15.1% during the forecast period of 2019 to 2026.
The smart trains have gained reality due to advancement of technology. New IoT cases are possible to improve operational efficiency, passenger experience. Advent of smart cities and increased growth in demographic growth and hyper-urbanization may act as the major driver in the growth of smart trains market. On the other side, lack of ICT infrastructure and interoperability, and high initial cost of deployment may hamper the market.
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Major Key players profiled in this report are:
ALSTOM, Cisco Systems, Inc., General Electric, ABB, IBM Corporation, Hitachi, Ltd., Bombardier, Huawei Technologies Co., Ltd., Indra, Siemens AG, Nokia, Ansaldo STS, and others.
Major Market Drivers:
- Increased growth in demographic growth and hyper-urbanization
- Advent of smart cities
- Technological advancement
- Government initiatives and partnership models
- Emergence of IoT technology
- Emerging trend of smart cities
- Operational inefficiency
- Lack of ICT infrastructure and interoperability
Smart Railways Market research report contains thorough information about target markets or customers. Analytical study of this market report aids in formulating growth strategies to augment sales and build brand image in the market. It supports the business to take better decisions for the successful future planning in terms of current and future trends in particular product or the industry. The key factors of this report consist of primary research, benchmarking studies, secondary research, company profiles, competitive intelligence & reporting, syndicated research, data collection, data processing and analysis, survey design, and survey programming.
The global smart railways market is segmented on the basis of solution into passenger information system, freight information system, advanced security monitoring system, rail communication and networking system, smart ticketing system, and rail analytics system. The passenger information system segment is further sub segmented into multimedia information and entertainment solutions, network connectivity solutions. The freight information system segment is further sub segmented into freight operation management solutions, and freight tracking solutions.
On the basis of component, the global smart railways market is segmented into video surveillance cameras, networking and connectivity devices, multimedia infotainment displays.
On the basis of service, the global smart railways market is segmented into professional services, and managed services.
On the basis of vertical, the global smart railways market is segmented into banking, financial services, and insurance, IT and telecom, government and defense, healthcare, research and academic, retail, energy, manufacturing, and others.
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