Rail Maintenance Management System Market Expected to Reach $31.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Rail Maintenance Management System Market," The rail maintenance management system market was valued at $11.1 billion in 2021, and is estimated to reach $31.1 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.

Rail maintenance management systems are one of the complete maintenance support system for rail infrastructure that enable the autonomous monitoring and diagnose the complex railway system through setting an entirely connected devices and solutions. These solution primarily includes of rail operation management system, rail traffic management system, rail asset management system, rail control system, and rail maintenance management system. It intend to reduce fatalities, delays, and accidents and improve the efficiency of trains. Furthermore, the main focus of positioning of the rail maintenance management system is to effectively manage the train management and reduce the risks related to railway accidents. As a result, rail operators are increasingly deploying rail maintenance management systems to enable security, stability, and cooperation in the rail management process.

Moreover, the changing trends and advancements into the train management process and simplifying passenger and staff comfort with access to service deliveries drive growth of the rail maintenance management system market. However, high implementation maintenance cost associated with rail maintenance, as well as concerns over data security and privacy with IoT devices are expected to restrict the rail maintenance management system market share.

Furthermore, key players operating in the market are expected to develop rail maintenance management system for improved suppliers access to deliver rail maintenance services in real-time. This is further expected to present lucrative opportunities for the rail maintenance management system market analysis as market vendors are introducing novel rail maintenance management system to cater to these new requirements.

On the basis of type, the track maintenance segment had the highest share in 2021. This is attributed to growing pressure to implement effective track maintenance systems for preventing the increased instances of railway accidents and train derailments, which drive growth of the market. In addition, rapid developments of smart city projects, along with the implementation of favorable government policies toward railway digitalization, are anticipated to drive the market growth. Furthermore, facility maintenance segment is expected to grow at the fastest CAGR during the forecast period. This is attributed to the increasing adoption of IoT and automation technologies to improve optimization in rail infrastructure. In addition, the implementation of facility maintenance solutions is growing significantly, as it better controls the operations, asset management, traffic planning, staff & passenger information management, and data analytics, providing lucrative growth opportunities for the rail maintenance management system market.

By region, the rail maintenance management system market was dominated by Europe in 2021, and is expected to maintain this trend during the forecast period, owing to increasing adoption of cloud computing technologies and data & analytics for delivering better performance on rail maintenance and robust availability of leading vendors and their strategic initiatives. Moreover, increasing investment in smart city projects, along with the supportive government legislation for railway traffic congestion are accelerating the growth of the market. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. The region has a proliferation of new technologies that enable increased level of automation in rail infrastructure and real-time monitoring of train operations. Moreover, growing number of smart railway stations to handle security concerns and optimize passenger experience drive market growth in the region. For instance, in September 2021, the government of China is reportedly set to invest about $154 billion to expand the railway network over the planned period between 2021and 2025, supporting urbanization and boosting local economies. Such developments further drive growth of the market.

The rail maintenance management system market was less negatively impacted by the COVID-19 outbreak. The pandemic significantly disrupted the railway operations in 2020, owing to the spread of novel coronavirus has led to restrictions on domestic and international travel. It further instigated a global decline in the demand for passenger transport due to lockdown measures and transport restrictions imposed by national authorities, while enabling rail transport to deliver crucial services. These measures directly impacted the economy of the railway sector, with the partial or complete shutdown of railway activities, particularly international services. As a consequence, demand for rail maintenance management system is expected to experience a significant decline in the short-run. Moreover, customers are presently looking to rail maintenance management system to assist them in preparing for the future beyond COVID-19. Hence, many market vendors are expanding their offerings to improve efforts in tracking and tracing solution. For instance, in November 2020, Bombardier Transportation unveiled its new Bombardier EBI Sense digital service for predictive maintenance. It is a step to harness the benefits of digitalization for boosting railway performance with a special focus on rail signaling systems. Such strategic initiatives create numerous opportunities for high market growth in the forecasting years.

Key Findings of the Study

• By component, the solution segment led the rail maintenance management system industry in terms of revenue in 2021.
• By deployment mode, the on-premise segment led the rail maintenance management system industry in terms of revenue in 2021.
• By type, the track maintenance segment accounted for the highest rail maintenance management system market size in 2021.
• By region, Europe generated the highest revenue in rail maintenance management system market forecast in 2021.

The key players profiled in the rail maintenance management system industry analysis include, Cisco Systems, Inc., IBM Corporation, ABB Group, Hitachi Rail Limited, Siemens Mobility GmbH, Toshiba Infrastructure Systems & Solutions Corporation, Trimble Inc., Alstom S.A., RailnovaSA, and Thales Group. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.