Global Smart Railways Market research report is a brilliant report that helps the individual to make vital choices and accomplish development targets. The study of this report has been utilized to analyze different fragments that are depended upon to observe the speediest advancement dependent on the assessed conjecture outline. Various strategies and procedures were utilized to assemble and assess the data.
The Global Smart Railways Market accounted for USD 11.3 billion in 2016 growing at a CAGR of 15.1% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 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 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
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.
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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