Railway Management System Market Forecast, 2018-2024

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Railway Management System Industry Report
Forecast To 2024
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Key Insights from Railway Management System
Market

• The railway management system market growth is
  attributed to the increasing adoption of IoT and
  digitalization in the railway industry. IoT
  allows the rail operators to have proper
  information about the trains location with
  respect to other trains to ensure passengers
  safety.
• The Passenger Information System (PIS) holds the
  highest growth potential in the railway
  management system market. Due to a rising
  competition in the market and growing passenger
  expectations, train operating companies are
  continually striving to augment passenger
  satisfaction by delivering more information than
  just departure and arrival timings.
• The system integration deployment service
  segment dominates the railway management system
  market with a industry revenue of over USD 1
  billion in 2017. Railway operators are working
  toward transforming their traditional network
  systems with advanced IP-based technologies.

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Continued
The cloud deployment model is growing at the
fastest rate in the railway management system
market due to various benefits that it offers
such as ongoing software updates and easy access
anywhere using the browser, making it easier for
rail authorities to carry out their
operations. The deployment of digital
technologies in railways enhances the customer
experience by delivering value-added services to
its customers, increasing reliability, safety,
efficiency, and the overall performance of the
railways driving market growth. Furthermore, the
rising trend of smart cities also has a positive
impact on the railway management system market as
a majority of smart cities opportunities
capabilities revolve around public transport
networks. These systems help in implementing
technology and data for improving railway
efficiency, sustainability, and mobility.
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MEA Railway Management System Market Revenue, By
Rail Traffic Management System, 2017 2024 (USD
Billion)

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Major Companies in Railway Management System
Market

• ABB
• Ansaldo
• EKE Electronics
• Frequentis
• Cisco
• IBM
• Nokia
• Huawei
• Bombardier
• Indra
• Toshiba
• Trimble
• Thales
• Hitachi
• Siemens
• Alstom

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Industry Coverage

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Regional Insights in Railway Management System
Market

• The Asia Pacific railway management system market
  is anticipated to grow at the fastest rate at a
  CAGR of over 14 over the forecast timeframe. The
  major factors contributing to market growth in
  this region include the strategic initiatives
  adopted by the government, which include smart
  cities and digitalization coupled with the
  increasing GDP of the Asian countries.
  Furthermore, as transportation infrastructure in
  some of the countries is still in development
  phases, various companies are making strategic
  investments in this region due to a huge growth
  potential driving the railway management system
  market demand. For instance, in January 2018,
  China Railway Corp invested USD 112 billion to
  bring about the development of Chinas fast rail
  network.

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