NEW YORK, Nov. 30, 2023 /PRNewswire/ — The “connected rail solutions market by safety and signaling system (CBTC, PTC, and ATC), deployment (on-premises and cloud-based), and geography (Europe, APAC, North America, Middle East and Africa, and South America) – Forecast and Analysis 2024-2028″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the connected rail solutions market between 2024 and 2028 is USD 38.12 billion.
Technavio has announced its latest market research report titled Global Connected Rail Solutions Market 2024-2028
The increasing adoption of technologically advanced connected devices is a key factor driving market growth. Railway operators are encouraged by the high rate of personal adoption of connected devices, which means they can incorporate more sophisticated equipment to allow connection between rail operations and end customers. In addition, the deployment of very limited levels of advanced driver assistance systems is made compulsory by Government Regulations. To be compatible with communication systems, this development is increasing the number of trains that are equipped with software and hardware.
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Market Challenge
The reluctance to adopt new systems is a significant challenge restricting market growth. Due to the possibility of downtime, and a need for further training, employees who are using traditional document handling methods are not willing to transition to computerized record management solutions. Secondly, a shortage of talent at training and dealer sites could become an international concern for the first users of these new technologies which may restrict growth in the market.
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The connected rail solutions market is segmented by safety and signaling system (CBTC, PTC, and ATC), deployment (on-premises and cloud-based), and geography (Europe, APAC, North America, Middle East and Africa, and South America).
The market share growth by the CBTC segment will be significant during the forecast period. The growth of this segment is driven by the growing use of CBTC solutions in managing rail routes and infrastructure control for railways. CBTC is a type of train safety and signal control system, which tracks the location of trains with satellite or positioning technology. Furthermore, a major factor accelerating the growth of the segment is the development of freight car logistics.
APAC is estimated to contribute 32% to the growth of the global market during the forecast period.
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Key Companies in the Connected Rail Solutions Market:
ABB Ltd., ALSTOM SA, Atos SE, CalAmp Corp., Cisco Systems Inc., Digi International Inc., General Electric Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Indra Sistemas SA, Mitsubishi Electric Corp., Nokia Corp., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Sierra Wireless Inc., Thales Group, Toshiba Corp., Trimble Inc., and WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Safety andSignaling System
Market Segmentation by Deployment
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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