The Global Railway Management System market can divided into two segments: Systems and Solutions, and Services.
The developing economies have had a substantial impact on the development and growth of the railway industry. The demand for railway services is also growing due to a recent population boom, which in turn is boosting growth in the railway management systemmarket. This growth in economy and population is also driving the demand for supply goods and travel.
This report, Global Railway Management System Market 2014-2018, provides a detailed analysis of the market and focuses on the major players, recent developments and key drivers of the global railway management system market.
The railways industry is one of the main drivers of growth for major economies. Railway management systems make the operation of the railways efficient by improving the exchange of information and data from trains to the ground officials. The railway management system market is estimated to grow from USD 19.58 billion in 2014 to USD 35.99 billion in 2019, at a CAGR of 12.96% in the forecast period from 2014-2019.
The demand for a swift and dynamic mode of transport is the main driver of the Global Railway Management System market. The main long-term drivers of the rail transportation are allied to economic and demographic growth in the emerging and developing markets. In mature markets, they are related to the renewal and upgradation of existing infrastructures as well as increased environmental and sustainability awareness.
The key players in this market include ABB Ltd., Alstom SA, Ansaldo STS, Bombardier Inc., Computer Sciences Corp., GE Transportation, Hitachi Ltd., IBM Corp., Indra Sistemas SA and Siemens AG.
The tremendous economic and demographic growth has been attributed to a sharp rise in freight and passenger traffic. The operating and maintenance costs thus need to be managed efficiently for future growth and expansions. In order to face these challenges, the rail companies are expected to combine their existing rail operations with new-age information and communication technology (ICT) solutions. Transforming the existing architecture to the modern IT-supported infrastructure would ensure the evolution of new operation and traffic-management solutions.
The future of the railway industry is expected to rely on innovative and more efficient management practices. With the help of novel management software, the routing and scheduling of the rail traffic would become more systematic. Traffic control management systems could resolve the overcrowding issues over the limited rail network size. An efficient traffic flow over the proposed network could ensure minimum time delays and curb financial losses.
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