Digital Railway Market: Global Industry Analysis and Forecast (2023-2029)

Digital Railway Market is expected to reach at US$ 90.74 Bn. by 2029. Global Digital Railway Market size is estimated to grow at a CAGR of 7.55 %.
Digital Railway Market Overview and Dynamics:
Digital railway refers to the transformation and digitalization of technologies, which aid in modernizing automating ticketing processing, railway operations, customer service support, and preparing maintenance schedules with managing railway traffic and self-learning algorithms. It denotes the integration of the latest software solutions with the railway infrastructure to meet the upward demand for people in an effective manner and offer safer rail services. Digital railway is a government-supported initiative, which goals to deliver major improvements in train control, command, and signalling systems within a period of time.To know about the Research Methodology:- Request Free Sample Report

The efficient and strong rail networks used for trade, travel, and tourism flourish and help in economic growth and stability. Developments in communication technology & the adoption of IoT devices fuel the growth of the digital railway market globally. Furthermore, these improvements have helped to update traditional signalling systems, promote rail communication and control heavily traded tracks.

Railways have restricted operational flexibility and a rising passenger and freight traffic demand on present infrastructure. The use of smart infrastructure for fault prediction and the guidance of preventive maintenance aid maintain operational capabilities and developing the reliability of operational efficiency and railway infrastructure. Smart infrastructure permits organizations to get data from all railway components and assets. It connects all the assets to the key platform. Remote surveillance solutions identify defects and notify about deviations in time

On the other hand, the risk of cyber-attacks and less availability of trained professionals are the factors that hinder the market growth. Besides, the growing freight usage in many industries, the economic expansions and government regulations and the high saturation of advanced technologies are expected to provide lucrative opportunities to the developing digital railway market.
Digital Railway Market Segment Insight:
Digital Railway Market Segment Analysis: Global Digital Railway Market is segmented into Component, and Application.

Based on the Offering, the services segment is expected to grow at the largest CAGR of nearly 8.84% during the forecast period. The service providers aid in executing rail solutions. The profits of employing railway management system services are reduced complexities, better rail operations performance, reduced operating costs, improved engagement cash flow & profitability, exploited strategic value of rail solutions, standardized & improved rail infrastructure, simplified project planning & execution.

The services segment is divided into further two sub-segment professional services and managed services. Global managed service providers include vendors from diverse backgrounds, extending from specialized managed service providers to system integrators & VARs (Value-Added Resellers).
Digital Railway Market Regional Insights:
APAC is anticipated to account for the largest nearly 42% share of the Digital Railway market in 2022 thanks to the growing adoption of new technologies, higher investments for digital transformation, and the increasing GDP in the APAC economies. A majority of the main economies in APAC like India, China, Korea Australia, Singapore, and Hong Kong, are said to be rapidly investing in technological transformation. In 2019, as per the report of ESCAP (United Nations Economic and Social Commission for Asia and the Pacific), the length of Trans-Asian Railway network comprises 117,500 km of railway lines serving 28 member economies.

The high population growth rate in APAC has intensified the need for transformation and growth of the existing rail infrastructure. With unexploited potential markets, the increasing freight usage in various industries, and the economic expansions and government regulations are expected to fuel the market for digital railway growth at the highest rate in Asia during 2023-2029.

Europe: Social & trade agreements among the European Union economies have promoted cross-border trade, large-scale, and passenger traffic in the EU. High growth is projected in this region, particularly in communication technology, as the ETSI (European Telecommunications Standards Institute) has formed a separate group to focus on the M2M communication privacy calibration and high trading standards. The dynamics of the European rail industry are changing rapidly with passenger management systems. To increase the efficiency of the current infrastructure, many of the European economies are likely to adapt to the new digital railway solutions.
Industry Developments:
The research study includes the profiles of leading companies operating in the global digital railway market:

In Jan 2019, Taiwan Hitachi Asia Pacific Co. Ltd. announced that the company has been awarded an order to supply around 600 of Electric Multiple Unit (EMU) train cars.

In April 2019, Siemens Mobility announced that the company has installed intelligent signalling systems in 3 of the busiest railway stations.

The objective of the report is to present a comprehensive analysis of the global Digital Railway Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Digital Railway Market dynamic, structure by analyzing the market segments and projecting the Digital Railway Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Digital Railway Market make the report investor’s guide.
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Digital Railway Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 54.51 Bn.


Forecast Period 2023 to 2029 CAGR:
7.55 %
Market Size in 2029:
US $ 90.74 Bn.


 Segments Covered:
by Offering
Solutions
1.Remote Monitoring
2.Route Optimization And Scheduling
3.Analytics
4.Network Management
5.Predictive Maintenance
6.Security
7.Others
Services
1.Professional Services
2.Consulting
3.System Integration and Deployment
4.Support and Maintenance
5.Managed Services


by Application
Rail Operations Management
1.Rail Automation Management
2.Rail Control
3.Signaling Solution
4.Rail Traffic Management
5.Freight Management
6.Smart Ticketing
7.Workforce Management
Passenger Experience
Asset Management
Others



Digital Railway Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Digital Railway Market, Key Players are
1. Siemens 
2. Cisco
3. Hitachi
4. Alstom
5. IBM
6. ABB
7. Huawei
8. Thales
9. Fujitsu
10. DXC
11. Indra
12. Nokia
13. Atkins
14. Toshiba
15. Bombardier
Frequently Asked Questions:
1] What segments are covered in the Digital Railway Market report?
Ans. The segments covered in the Digital Railway Market report are based on Offering, and Application.

2] Which region is expected to hold the highest share in the Digital Railway Market?
Ans. APAC region is expected to hold the highest share in the Digital Railway Market.

3] What is the market size of the Market by 2029?
Ans. The market size of the Digital Railway Market by 2029 is US$ 90.74 Bn.

4] What is the forecast period for the Market?
Ans. The forecast period for the Market is 2023-2029.

5] What was the market size of the Market in 2022?
Ans. The market size of the Digital Railway Market in 2022 was US$ 54.51 Bn.