Thursday, 6 March 2014

Global Smart Railways Market Forecasts

The concept of smart railways implies a set of new-generation solutions, services, and modern transportation by using Information and Communication Technologies (ICT). Consumers always look for more efficient and safer transport services. To achieve this it combines software products to make more intelligent use of all rail assets so companies can meet the increasing consumer demand for more efficient and safer services. 

As a result of new trends such as regulation, sustainability, demographics, economics, mobility, and Information Technology (IT) innovations every aspect of the value chain - from passenger service to the back-end organization - is changing.

The future rail industry would get some benefit from smarter transportation systems that leverage technologies over larger rail network infrastructure. New technologies include integrated service management solutions, asset management software, and predictive analytic tools which would help rail management companies to manage optimal routes, schedules. 

challenges for the rail industry:
  •  In terms of meeting forecast growth in demand, ensuring cost control and value for money
  • Maintaining safety and security in the face of increased external pressures
  • Achieving environmental sustainability targets
  • Meeting evolving customer expectations and needs

In order to answer all these challenges, railway transportation management companies need to shift their focus on building smart railways infrastructure by developing and integrating smart railways solutions. Smart railway infrastructure services and solutions are poised to catalyze the next phase of growth in the rail transportation industry. Smart railway transportation can drive the transformation of rail networks from a basic means of transport to complex systems that are indispensable to society.

The MarketsandMarkets report outlines the key trends that will shape the evolution of the passenger and freight rail industry. The report is segmented into various smart tech rail solutions, applications, and devices and components. This smart railways research report analyzes global adoption trends, future growth potential, competitive outlook, rail transportation ecosystem, and best practices in this market.

This report speaks about the expected market size for the various software solutions and components involved in the rail infrastructure system. It also highlights the revenue potential of the various professional services, integration services, and cloud services offered by railway solution vendors. The report consists of the opportunity analysis of various types of smart railway solutions such as passenger and freight information system, rail traffic management system, rail operations management system, advance security monitoring system, rail communication and networking system, smart ticketing system, and rail analytics system. The report analyzes market sizes and revenue forecasts across different regions such as North America (NA), Europe (EU), Latin America (LA), Asia Pacific including Japan (APAC), and Middle East and Africa (MEA).

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