Increase in government initiatives to provide efficient and hassle-free transport systems drive the demand for the digital railway market
The Digital railway includes several solutions that enable improved management of the rail system. It includes several activities such as remote monitoring, rail-facility information management, analytics, network management, operation management, predictive maintenance, power supply, infrastructure management, among others. Additionally, these solutions enable efficient scheduling and timely monitoring of assets which reduces downtime. Predictive and condition-based maintenance work over real-time analytics facilitates decreases the dependence on manual diagnostics of the systems. Hence it is expected that the global digital railway market size is anticipated to reach USD 68 billion by 2025.
Growing demand for enhanced connectivity, rising urbanization, as well as the need for reliability, safety, and comfort for rail transport have given rise to the advancement of rail transportation. Moreover, there is a growing demand for safe, eco-friendly, and convenient commutation through governments and commuters.
Based on the offerings segment, the market is bifurcated into two sub-segments that are solutions, and services. The solutions segment is further classified into remote monitoring, route optimization, and scheduling, analytics, network management, predictive maintenance, security, others. Whereas the services segment is further classified into managed services, and professional services.
The predictive maintenance segment is anticipated to grow at a significant CAGR over the forecast period. However, the network management segment to witness the largest market share in 2019. The major share of segment revenue is likely to come from the European region, owing to a wide application of modern rail infrastructure within the rail industry.
The global digital railway market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global digital railway market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. Europe is considered a mature market in the digital railway applications, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. Nations from Western Europe including France, Germany, and the UK, have well-established railway infrastructure equipped with advanced digital railway systems. Moreover, Social, as well as trade agreements within the European Union nations, have encouraged cross-border trade, as well as passenger traffic commute in Europe.
The major players of the global digital railway market are Siemens, Hitachi, Alstom, Cisco, IBM, ABB, Huawei, Fujitsu, DXC, Indra, Thales, Atkins, Toshiba, and more. The digital railway market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Digital Railway Market
Offerings Overview, 2018-2028 (USD Billion)
- Remote Monitoring
- Route Optimization & Scheduling
- Network Management
- Predictive Maintenance
- Professional Services
- Managed Services
Application Overview, 2018-2028 (USD Billion)
- Rail Operations Management
- Passenger Information System
- Asset Management
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America