Railway transportation is the safest and best alternative to roadways and airways. The rise in traffic congestion has led to people using the railways more frequently. As railways are a very economical and feasible option compared to other transportation, the railway market is growing year by year. As travelers seek out better experience, service providers find various ways to improve the efficiency and trim costs while regulatory bodies provide better safety and security. Information technology plays an important role in meeting the three challenges mentioned above.
Technological advancement is the major factor driving the growth of the smart railways market. Advancement in technology is increasing the efficiency of the railways which in turn increases the value of the railways. Presently, an outdated infrastructure and railway tracks are some limitations for the smart railway market. Advancements in technology would drive the smart railways market, thereby driving the railway market.
Smart Railway Market Analysis by Solutions
A smart railway provides several solutions. The Passenger Information system provides real-time passenger information. Information system, Rail Traffic Management System, Rail Operations Management System, Advance Security Monitoring System, Rail Communication and Networking System, Smart Ticketing System, Rail Analytics System are some additional solutions supplied by smart railways. As smart railways offer various automated solutions such as traffic management, security monitoring, communication and networking the solutions segment is the most attractive segment.
Smart Railway Market Analysis by Devices
Smart Railways provides various devices and components for security and network connectivity. The devices used are Rail Sensors, Video Surveillance cameras, Smart cards, Multimedia displays, and networking & connectivity devices. Video surveillance cameras are most commonly used for security purposes. They generate the most revenue in the devices segment. Sensors are used to locate the train and smart cards are used for entering and exiting the trains.
Smart Railway Market Analysis by Services
Presently, Professional, Integration, and cloud are some smart railway services used by the railway industry. Cloud Services are widely used to maintain real-time information on passengers and in automated rail ticket systems. Therefore, cloud services contribute the most revenue in the services market of the smart railway.
Smart Railway Market Analysis by Geography
The smart railway market is evaluated based on the regions of North America, Europe, Asia-Pacific and LAMEA. North America would be the segment which generates the most revenue followed by Europe due to the adoption of novel technologies in developed countries. Asia-Pacific region would be the fastest growing region as the adoption rate of new technologies is increasing in countries such as India, China, Japan, etc.
The players in the market are adopting the strategy of partnerships to expand their business, which will encourage advancements in technology and improve their services.
Some major players in the market are Alcatel-Lucent International, ABB Ltd, Ansaldo STS, Alstom SA, Cisco Systems, Inc., Bombardier Transportation, GE Transportation, CGI Group Inc., Huawei Technologies Co. Ltd., Indra Sistemas, S.A., Hitachi Ltd., Computer Sciences Corp., ZTE Corporation, IBM Corporation and Siemens AG
Study of the market showcases the current market trends, market structures, driving factors, limitations and opportunities of the smart railway market. Porter’s Five Force Model helps in analyzing the market forces, barriers, strengths, etc., of the global market. Bargaining power of the buyer is low as the product is highly differentiated and threat of backward integration is low. The suppliers in this market are more concentrated than buyers, due to which the bargaining power of suppliers is high. Threat of substitutes in the global market is high as the switching costs are minimal. As smart railways is a novel concept, threat of new entrants in the industry is high, while the moderate number of market players leads to moderate intersegment rivalry in the market. Value chain analysis helps in analyzing the role of key stakeholders in the supply chain of the market and would provide new entrants with knowledge about the value chain of the existing market.
KEY BENEFITS OF SMART RAILWAY MARKET
- The report provides an in-depth analysis of the smart railway market and offers current and future trends to decipher the upcoming investment pockets in the market.
- Competitive analysis is conducted to formulate profitable strategies in the market
- Current and future trends are charted to determine the overall attractiveness of the market
- Market factors are expounded to determine the trends in various geographies
- The potency of buyers and suppliers are evaluated to determine the present state of the market. Company profiles of the leading market players are illustrated to provide a roadmap of the market
- Quantitative analysis of the current market and estimations through 2013-2020 to elicit financial caliber of the market
- Key application segments are identified based on the perceived potential of the market
- Value chain analysis is conducted to gauge the roles of intermediaries involved
- Drivers and opportunities are evaluated to pinpoint the factors responsible for the market growth
- Top impacting factors are investigated to determine the attractiveness of the market.
The global smart railway market is segmented based on the solutions it provides, devices, services and geography.
MARKET BY SOLUTIONS
- Passenger Information system
- Freight Information system
- Rail Traffic Management System
- Rail Operations Management System
- Advance Security Monitoring System
- Rail Communication and Networking System
- Smart Ticketing System
- Rail Analytics System
MARKET BY DEVICES
- Rail Sensors
- Video Surveillance cameras
- Smart cards
- Multimedia displays
- Networking & Connectivity devices
MARKET BY SERVICES
- Professional services
- Integration services
- Cloud services
MARKET BY GEOGRAPHY
"Note : The list of companies mentioned in the description is tentative in nature and may change after detailed analysis."
- North America