Insights on the Connected Rail Global Market to 2031 – Rising Use of Rail Data in Development of Trains and Passenger Services is Driving Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Connected Rail Market By Service, By Rolling Stock, By Safety and Signaling System: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
According to this report the connected rail market was valued at $86.8 billion in 2021, and is estimated to reach $143.8 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
The connected rail transmits bi-directional data among trains and the network control center, which is the central processing unit of the train management system. A connected rail system provides onboard passengers on the train with Wi-Fi services inside the train and on the platform.
Moreover, connected rail also provides onboard and off-board IP-based communication, video surveillance, passenger information, entertainment, and automated operations such as automatic train control (ATC) and communication-based train control (CBTC).
Furthermore, the connected rail market is projected to witness considerable growth, especially in Europe, owing to presence of sophisticated infrastructure to undertake various projects and earliest & highest adoption of connected rail solutions across various industries. Commercial and government rail operators are adopting various innovative techniques to provide customers with advanced and innovative offerings.
Furthermore, increase in adoption of artificial intelligence (AI), machine learning (ML), and cloud computing in the railway sector and rise in use of rail data in development of trains and passenger services are major factors expected to offer lucrative opportunities for the market growth.
Region wise, North America is the highest revenue contributor, followed by Europe, Asia-Pacific, and LAMEA. Europe is expected to maintain its lead during the forecast period, owing to increase in funding for conducting connected rail projects in the region and presence of big market players, such as Alstom, Robert Bosch GmbH, and Siemens that have a global presence.
Key Benefits
- This study presents analytical depiction of the global connected rail analysis along with current the trends and future estimations to depict imminent investment pockets.
- The overall connected rail opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global connected rail with a detailed impact analysis.
- The current connected rail is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Service
- Predictive Maintenance
- Passenger Information System
- Train Tracking and Monitoring
- Automated Fare Collection System
- Passenger Mobility
By Rolling Stock
- Freight Wagons
- Passenger Wagons
- Diesel Locomotive
- Electric Locomotive
- Light Rail and Trams
By Safety and Signaling System
- Positive Train Control
- Communication Based Train Control
- Automated Train Control
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Bombardier Inc.
- Alstom SA
- Siemens AG
- Hitachi Limited
- Robert Bosch GmbH
- Huawei
- Cisco Systems Inc.
- Wabtec Corporation
- Nokia Corporation
- IBM Corporation
For more information about this report visit https://www.researchandmarkets.com/r/basauo
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