DUBLIN--(BUSINESS WIRE)--The "Railway Management System Market by Solution (Rail Asset Management, Track Monitoring, Revenue Management, Intelligent Signaling System, Route Planning & Scheduling, PTC, CBTC, PIS, Security & Analytics), Service & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The railway management system market size is expected to grow from USD 34.50 billion in 2018 to USD 56.18 billion by 2023, at a CAGR of 10.2% during the forecast period.
This growth is expected to be fueled by the high demographic growth, hyper-urbanization, adoption of IoT as well as automation technologies to enhance optimization, technological advancements, government initiatives and the PPP model, and emerging trend of smart cities. The restraints for the railway management system market are operational inefficiency and increasing congestion with respect to the existing railway infrastructure capacity and high initial cost of deployment.
The PIS segment is expected to grow at the highest CAGR during the forecast period. PIS is a key communication link between transportation operators and passengers. It is an electronic operating tool that provides, at any given time, visual and acoustic information to passengers on a route, both automatically or programmed manually.
Along with system reliability, safety, and general appearance, the ability of the operators to provide accurate and current information on arrival and departure times is a key component of passenger satisfaction. PIS consists of real-time train tracking, route information and scheduling, travel planning, passenger infotainment, and online connectivity solutions.
The system integration and deployment services segment is expected to witness the highest growth rate during the forecast period. System integration and deployment services help identify the need for adaptation or upgradation to support the smart railways software in the existing infrastructures and avoid the restriction of such software. These services help reduce deployment time, save time and costs, enable efficient working, and minimize deployment-related disruptions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Railway Management System Market, By Solution
7 Market By Service
8 Railway Management System Market, By Region
9 Competitive Landscape
10 Company Profiles
- General Electric
- Indra Sistemas
- Tech Mahindra
- Nokia Networks
- Thales Group
- DXC Technology
- Sierra Wireless
- GAO RFID
For more information about this report visit https://www.researchandmarkets.com/research/tx2663/global_railway?w=4