Global smart railways market demand opportunity analysis 2021

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Global Smart Railways Market Outlook:
Industry Insights & Opportunity Evaluation,
2015-2021

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Smart Railways Market Final Deliverable
Table of Content
Global Smart Railways Market Overview
With growing technological advancement and digitalization all
over the world, the existing traditional rail network is also
believed to see massive transformations over next 7-10 years. The
transformation of existing rail network would support
manufacturing of smart devices and solutions such as advanced
security systems, networking and connecting systems, rail
operating and management systems, etc.
Regionally, Western Europe dominates the global smart railways
market followed by North America. The U.K. and Hungary are
two smart railway markets in Western Europe that are anticipated
to witness the highest compound annual growth rate (CAGR) of
20.0% over the forecast period i.e. 2015-2021.

The global smart railways market is envisioned to bolster to reach
new heights. The main reason behind this massive growth in the
market can be attributed to increasing population, growth in
urbanization, increasing safety and security concerns among
passengers, providing fast, efficient & hassle-free services,
formulation of mandatory government regulations for
implementation of smart features in railway sector and innovation
in rail technology all over the world.
However, high security and maintenance cost requirement in
smart railways coupled with security threats related to smart rail
devices is expected to dampen the growth of global smart rail
market in future.
The global smart railways market is primarily segmented on the

basis of offerings into devices, services and solutions. At present,
smart railways solutions market accounts for the largest market
share and is anticipated to continue its dominance over the
forecast period i.e. 2015-2021.
Global smart railways devices market is further segmented into
rail sensors, video surveillance camera, smart cards, networking
and connecting devices and others. Among these, smart cards and
video surveillance camera market are anticipated to behold the
highest CAGR growth rate over next 5-6 years.
Further, smart railways service segment is divided into integrated,
cloud and professional services. Latter is envisioned to grow at the
highest CAGR over the forecast period.
Based on the solutions, the global smart railways market is
segmented into passenger information system (PIS), rail traffic
management system (RTMS), advanced security management
system (ASMS), smart ticketing, rail operations and management
systems, rail communication and networking systems and others.
Out of all the solutions provided, the passenger information
system or the PIS market is anticipated to witness the highest
CAGR growth rate during the period of 2015-2021.
Increasing developments of smart and mega cities in some of the
major regions of the world including Middle East and Asia-
Pacific, is believed to be a major growth opportunity for smart
railways market over next 4-5 years.

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analysis-opportunity-outlook-2021/142

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