Train Communication Gateways Systems Market Anticipated to Grow $1.3 Billion By 2032, at 26.1% CAGR
Rising demand for intelligent transport systems and extensive adoption of mobility drives the global train communication gateways systems market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, March 20, 2024 /EINPresswire.com/ — According to the report, the train communication gateways systems industry generated $124.3 million in 2022, and is anticipated to generate $1.3 billion by 2032, witnessing a CAGR of 26.1% from 2023 to 2032.
Train communication gateways refer to the products and solutions offered by companies to address the growing need for interconnected and intelligent train systems. These gateways facilitate the integration of emerging communication technologies, support data exchange between various subsystems, and contribute to the overall development of advanced train communication infrastructures.
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The train communication gateways systems market analysis is experiencing robust growth driven by several key factors. One of the primary drivers is the increasing demand for intelligent transport systems (ITS) in the rail industry. As rail operators strive to enhance operational efficiency, safety, and passenger experience, the need for seamless communication between diverse subsystems within trains becomes paramount. The adoption of advanced technologies, including the Internet of Things (IoT) and artificial intelligence, is another significant factor contributing to the market’s expansion. Train communication gateways play a crucial role in integrating these technologies, facilitating real-time data exchange, and enabling predictive maintenance.
Factors such as development in digitalization, increasing need for smart rail frameworks, and expansion in reception of cutting-edge technologies positively influence the development of the market. In addition, rise in adoption of communication devices, advancements in digital technology, and growth in demand for automation are expected to fuel the growth of the market during the forecast period. Furthermore, the expansion of network management applications in various industries is expected to provide lucrative growth opportunities for the market in the upcoming years. Moreover, development of data management technology to enable real-time processing of data and reduce latency and adoption of cloud solutions to enable scalability, flexibility, and cost-effectiveness of train communication systems propels the global market growth.
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Based on application, the conventional railways segment is expected to grow at the highest growth rate during the forecast period, as railways are highly efficient for mass transportation of passengers and freight over long distances. However, the rapid transit railways segment is projected to be the fastest-growing segment during the forecast period, as rapid transit systems are generally more cost-effective than building and maintaining road infrastructure to accommodate the same volume of passengers. Thereby, driving the growth of the train communication gateways systems market.
By product type, the multifunction vehicle bus (MVB) gateway segment held the highest market share in 2022, accounting for more than two-thirds of the train communication gateways systems market revenue and is estimated to maintain its leadership status during the forecast period. As it helps to integrate the diverse systems, creating a unified and coordinated operation of the entire train, which is further expected to propel the overall market growth. However, the others segment is expected to attain the largest CAGR of 28.3% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. This is due to the increase in the integration of ethernet and mobile communication gateway solutions.
Based on region, North America attained the highest growth in 2022. The presence of prominent players has influenced the growth of the train communication gateways systems market in North America. Moreover, rise in government initiatives to strengthen rail infrastructure across the region is further expected to drive the demand for train communication gateways systems market forecast solutions. However, Asia-Pacific is projected to be the fastest-growing segment during the forecast period, owing to availability of cost-effective digital solutions and rise in the amount of data generation across organizations. In addition, the proliferation of advanced technologies escalates system safety and reduces delays in database operations.
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Leading Market Players: –
• Advantech Co., Ltd.
• Duagon
• EKE-Electronics
• Quester Tangent
• AMiT
• SYS TEC electronic
• Ingeteam
• HaslerRail
• General Electric
• Siemens AG
The report provides a detailed analysis of these key players in the train communication gateways systems market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Impact of Covid-19:
The COVID-19 pandemic had a significant impact on various industries, including the transportation sector. This led to more exposure to cyber-attacks. Lockdowns, restrictions, and disruptions caused by the pandemic affected the manufacturing and supply chain of train communication gateway components. It further caused increase in the demand for communication services due to lockdown measures and transport restrictions imposed by national authorities, while enabling security providers to deliver crucial services. These measures directly impacted on the economy of the IT sector, with the partial or complete shutdown of businesses, particularly international services.
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Allied Market Research
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