USD 17.5 Billion Rail Asset Management Market Reach by 2031 | Top Players such as – Alstom, Capgemini & Siemens
Rising investments of various governments in rail infrastructure and digitalization projects worldwide are anticipated to contribute to demand for the market.
PORTLAND, PORTLAND, OR, UNITED STATE, November 28, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 17.5 Billion Rail Asset Management Market Reach by 2031 | Top Players such as – Alstom, Capgemini & Siemens.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global rail asset management market was valued at USD 10 billion in 2021, and is projected to reach USD 17.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
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Rapid urbanization, increase in the adoption of digitalization, surge in the demand for effective railroad operations, rise in the popularity of artificial intelligence, and growth in the prevalence of cloud-based railway management solutions are expected to drive the growth of the global rail asset management market. Shutdown of passenger transportation, delay or cancellation of projects and shortage of workforce during the pandemic had a negative impact on the growth of the global rail asset management market.
The Germany, France, and Italy catalogue market is segmented into type, industry vertical, and country. Depending on type, the market is categorized into digital and print or paper. On the basis of industry vertical, it is fragmented into retail & e-commerce, FMCG, and others. Country wise, it is analyzed across Germany, France, and Italy.
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Based on offering, the solution segment held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.3% during the forecast period. The report also analyses other segments such as the services segment.
Based on deployment, the cloud segment held the dominating market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.3% during the forecast period. The report also analyses other segments such as the services segment.
Based on application area, the rail infrastructure segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The rolling stock segment, on the other hand, is expected to cite the fastest CAGR of 6.7% during the forecast period.
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Based on region, the market across Europe held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.1% during the forecast period.
The key players analyzed in the global rail asset management market report include Alstom SA, Capgemini SE, Cisco Systems, Inc., Hitachi, Ltd., Huawei Technologies Co., Ltd., International Business Machines Corporation (IBM), L&T Technology Services Limited (LTTS), SAP SE and Siemens AG.
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COVID-19 Scenario:
● The COVID-19 pandemic had a negative impact on the growth of the global rail asset management market, owing to the occurrence of lockdowns in various countries across the globe.
● Lockdowns resulted in the closure of all sorts of passenger transportation, including railways, buses, and others, which adversely impacted the growth of the market.
● In addition, there was delay or cancellation of ongoing projects due to the prevalence of stringent social distancing restrictions as imposed by the governments of various countries across the globe.
● These restrictions were imposed to curb the spread of the virus during the pandemic.
● However, the market is expected to recoup in the post-pandemic era after eased restrictions.
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