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Smart Railways Market: UK and Hungary together to grow at a CAGR of 20.0% during 2015-2021

Wednesday, October 19, 2016 4:59
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Smart railways system is the modernization of the railways travelling system which has collaborated with digital technology. With this collaboration, the travel in the railway system is expected to be more reliable, convenient and safe. Many countries across the globe are rapidly implementing the smart rail travel system along with rail card for passenger convenience as well as for data collection for analytics. There is high scope for the Smart Railways Market in various regions across the globe during 2015-2021.

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Scope and Regional Forecast of the Smart Railways Market:

In the Smart Railways Market, Western Europe is the dominating region closely followed by North America. In Western Europe, Hungary and UK are poised to grow at a high CAGR of 20.0% collectively in this market during 2015-2021.

The smart cards and video surveillance cameras are expected to grow at the highest CAGR in the upcoming five years compared to others in the devices of the Smart Railways Market. Among solutions, PIS is poised to have the highest CAGR and cloud professional services to witness huge growth during 2015-2021.

In the Smart Railways Market, Asia Pacific and Middle East are the rapidly developing regions with huge capital investment and expansion scope during 2015-2021.

The Smart Railways Market is a rapidly growing market with increasing adoption of rail system in the globe transport which can be accessed by using railway account and rail smart card for rail travel by the passengers in various regions across the globe. This market is expected to have high growth owing to the growing use of smart card railway, increasing implementation of smart map and rail train by the government and high demand for smart tickets in various regions for convenient travel through 2021.

Segmentation and Key Players of the Smart Railways Market:

The Smart Railways Market is segmented into various categories by device, by solution, by service and by geography as follows:

By device: Rail Sensors, Video Surveillance Cameras, Smart Cards, Networking & Connecting Devices and others

By solution: Passenger Information Systems (PIS), Rail Traffic Management System (RTMS), Smart Ticketing, Rail Operations and Management Systems, Rail Communications and Management Systems, Advanced Security Management Systems and others

By service: Professional Services, Cloud Services and Integrated Services

By geography: North America, South America, Western Europe, Eastern Europe, Asia Pacific and Middle East and Africa

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The key players in the Smart Railways Market are as follows:

  • ABB Ltd.
  • Alcatel-Lucent
  • Hitachi
  • Ansaldo STS
  • General Electric

The railway smart card are expected to have high demand for regular passengers and for occasional travelers with planned benefits accordingly by using smart rail system. It is also helpful for analytics of railway activities and passengers through 2021.

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