global smart railways market demand opportunity analysis 2021

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Global Smart Railways Market Outlook:

Industry Insights & Opportunity Evaluation,

2015-2021


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Smart Railways Market Final Deliverable

Table of Content

Global Smart Railways Market Overview

With growing technological advancement and digitalization all

over the world, the existing traditional rail network is also

believed to see massive transformations over next 7-10 years. The

transformation of existing rail network would support

manufacturing of smart devices and solutions such as advanced

security systems, networking and connecting systems, rail

operating and management systems, etc.

Regionally, Western Europe dominates the global smart railways

market followed by North America. The U.K. and Hungary are

two smart railway markets in Western Europe that are anticipated

to witness the highest compound annual growth rate (CAGR) of

20.0% over the forecast period i.e. 2015-2021.


The global smart railways market is envisioned to bolster to reach

new heights. The main reason behind this massive growth in the

market can be attributed to increasing population, growth in

urbanization, increasing safety and security concerns among

passengers, providing fast, efficient & hassle-free services,

formulation of mandatory government regulations for

implementation of smart features in railway sector and innovation

in rail technology all over the world.

However, high security and maintenance cost requirement in

smart railways coupled with security threats related to smart rail

devices is expected to dampen the growth of global smart rail

market in future.

The global smart railways market is primarily segmented on the


basis of offerings into devices, services and solutions. At present,

smart railways solutions market accounts for the largest market

share and is anticipated to continue its dominance over the

forecast period i.e. 2015-2021.

Global smart railways devices market is further segmented into

rail sensors, video surveillance camera, smart cards, networking

and connecting devices and others. Among these, smart cards and

video surveillance camera market are anticipated to behold the

highest CAGR growth rate over next 5-6 years.

Further, smart railways service segment is divided into integrated,

cloud and professional services. Latter is envisioned to grow at the

highest CAGR over the forecast period.

Based on the solutions, the global smart railways market is

segmented into passenger information system (PIS), rail traffic

management system (RTMS), advanced security management

system (ASMS), smart ticketing, rail operations and management

systems, rail communication and networking systems and others.

Out of all the solutions provided, the passenger information

system or the PIS market is anticipated to witness the highest

CAGR growth rate during the period of 2015-2021.

Increasing developments of smart and mega cities in some of the

major regions of the world including Middle East and Asia-

Pacific, is believed to be a major growth opportunity for smart

railways market over next 4-5 years.


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