DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Smart Railways Market by Solution (Passenger Information, Freight Information, Rail Communication, Advanced Security Monitoring, Rail Analytics), Component, Service (Professional, Managed), and Region - Global Forecast to 2021" report to their offering.
The smart railways market size is estimated to be USD 10.50 billion in 2016 and is projected to reach USD 20.58 billion by 2021, at a CAGR of 14.4% from 2016 to 2021, due to the need of smart cities for better infrastructure, services, fast operational activities in public services, and transportation services.
Government bodies are striving for the betterment of the transport infrastructure systems as it replicates the development of the economy. The restraints of the smart railways market include operational efficiency & increasing congestion, high initial cost of deployment & capacity, and lack of ICT infrastructure & interoperability.
The rail analytics system is expected to grow at the highest CAGR during the forecast period due to the rise of demographic growth and hyper-urbanization. In addition to that, the cloud-based services, analytics, and mobile internet technologies demand are increasing due to their efficient IT management and reliable security environment.
With regards to the geographic analysis, Europe is likely to benefit from its technological advancements, large number of smart devices, strong government regulations, and followed by high usage of big data analytics, predictive and sensor analytics across all the railways industry.
Asia-Pacific (APAC) is expected to lead the smart railways market by region between 2016 and 2021. The growth can be attributed to the global competition, increasing penetration of smart devices, connected machines, and increasing investment in smart cities.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Railways Market Analysis, By Solution
7 Market By Component
8 Smart Railways Market Analysis, By Service
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- ABB Limited
- Alstom SA
- Ansaldo Sts
- Bombardier, Inc.
- Cisco Systems, Inc.
- General Electric
- Hitachi Limited
- Huawei Technologies Co. Ltd
- IBM Corporation
- Indra Sistemas SA
- Siemens AG
For more information about this report visit http://www.researchandmarkets.com/research/94wgpj/smart_railways