The Future of Rail Transportation in the Digital Railway Market: Riding the Digital Wave
Digital Railway Market Trends – Advancements in communication technology
VANCOUVER, BRITISH COLUMBIAC, CANADA, April 20, 2023 /EINPresswire.com/ — The global digital railway market size is expected to reach USD 133.64 Billion at a steady revenue CAGR of 9.7% in 2030, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as advancements in communication technology, rising demand for enhanced connectivity, rising urbanization, and increasing need for safe, eco-friendly, and convenient commutation. Digital railway refers to digitalization and transformation of technologies, which helps to modernize railway operations, automating ticketing processing, customer support service, and preparing maintenance schedule along with managing railway traffic.
According to the most recent report by Emergen Research, the worldwide digital railway market size is anticipated to reach USD 133.64 billion in 2030, with a consistent revenue CAGR of 9.7%. Advances in communication technology, rising need for better connectivity, increased urbanisation, and rising demand for secure, environmentally friendly, and practical transportation are the main drivers of market revenue growth. The term “digital railway” describes the digitalization and transformation of technology that aid in the modernization of railway operations by automating the processing of tickets, providing customer support, creating maintenance schedules, and controlling train traffic.
The market for digital railroads includes a range of products, services, and solutions that make use of digitalization to improve and optimise rail operations. In order to enhance the entire rail ecosystem, from track infrastructure to rolling stock, signalling systems, and passenger experience, this includes the use of data analytics, automation, artificial intelligence (AI), the internet of things (IoT), and communication technologies.
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Competitive Landscape:
The digital railway market is expanding quickly, and many businesses and organisations are fighting for a piece of this exciting and expanding sector. A wide variety of competitors, including technology providers, railway operators, system integrators, and solution developers, among others, make up the competitive landscape in the market for digital railways.
Some players analyzed in the report are:
Siemens,
Cisco Systems, Inc.,
Hitachi, Ltd.,
Wabtec Corporation,
Alstom,
IBM,
ABB,
Huawei Technologies, Co., Ltd.,
Thales,
Fujitsu
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Some Significant Report Highlights:
On 20 April 2022, Trimble’s Beena Vision business, entered into a formal agreement to be acquired by Wabtec Corporation, a leading global supplier for freight and transit rail. This acquisition is subject to usual closing requirements and deal’s financial details were not made public.
The remote monitoring segment is expected to lead in terms of revenue share in the global market over the forecast period. Use of remote monitoring technologies has a number of advantages. By centrally monitoring their complete train network, one will be able to make informed decisions. They will be able to decide whether it is genuinely necessary to send a vehicle on a 4-hour journey to their remote radio tower and what kind of repair equipment they will need to bring. They can save money by reducing time spent by their personnel and also helps to avoid unsafe operations, communication breakdowns, and expensive asset damage.
The professional services segment is expected to account for large revenue share over the forecast period. This is due to better reliability, guaranteed availability, optimal throughput, or increased lifetime cost effectiveness with the use of digital services from mobility rail services. Companies offer a broad portfolio for effective maintenance operations, ranging from connectivity and measuring technology to intelligent algorithms and precise analytics, and have decades of real-world experience in railway servicing.
The rail operations management segment is expected to account for large revenue share over the forecast period owing to increasing need for digital railways. The rail industry can benefit from digitization by increasing efficiency and output of station staff, drivers, middle management, and operations staff. In addition, by digitizing rail operations, operations staff can have access to real-time data such as rotating scroll warnings, centralized traffic control, track maps, and other tools.
In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions.
On the basis of type, the market is segmented into
Solution Outlook (Revenue, USD Million; 2019–2030)
Remote Monitoring
Route Optimization & Scheduling
Analytics
Network Management
Predictive Maintenance
Security
Other Solutions
Services Outlook (Revenue, USD Million; 2019–2030)
Professional Services
Application Outlook (Revenue, USD Million; 2019–2030)
Rail Operations Management
Rail Automation Management
Rail Control
Signaling Solutions
Rail Traffic Management
Freight Management
Smart Ticketing
Workforce Management
Passenger Information Systems
Asset Management
Other Applications
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The report further divides the Digital Railway market into key segments such as types, applications, end-user industries, technologies, and key regions of the market.
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Table of Contents for a Market Analysis on the Digital Railway:
Key Findings from the Executive Summary of the Digital Railway Market
market segmentation, market trends, and market drivers
Introduction
Scope and Coverage of the Digital Railway Market
Research Techniques
Business Dynamics
Market Forces
Market Limitations
Market Possibilities
Market segmentation for the emerging trends in the digital railway industry
By Type of Solution
Systems for Train Control and Management
Signalling Mechanisms
Networks for Communication
Systems for Asset Management
Other Passenger Information Systems
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized r esearch reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the
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