The global digital railway market size is anticipated to reach USD 68 billion By 2025. To construct a smarter railway infrastructure, railway experts require advanced and efficient digital railway solutions that are likely to promote the industry growth in the coming future.
Dallas, United States - October 26, 2020 /MarketersMedia/ —
Global digital railway market size is anticipated to reach USD 68 billion by 2025. Governments throughout the globe are undertaking strategic investments within the rail industry to upgrade the current railway infrastructure, thus, enhancing the rail transportation system of the nation. The Digital Railway system provides enhanced control and operation, traffic planning, passenger and staff information management, data analytics, among others. Additionally, advanced train management solutions implement on-train processing and advanced digital communication to keep track of the location and speed of trains. On the other hand, the digital railway also delivers disaster management, which is upheld to be essential for the safeguarding of human lives and assets.
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In March 2019, Siemens Mobility introduced Digital Lab, a project for its Intelligent Traffic System situated in Germany. This would help to streamline the railway traffic digitally, thus, decreasing road congestion and population. On the other hand, growing smart city projects and metro transportation within the developing economies is anticipated to have a positive impact on the digital railway industry growth.
Amplified Investments towards Predictive Maintenance in Transportation and Logistics Spearheads Growth in Digital Railway Market
Industrial IoT integration in railways to obtain improved business output and minimal infrastructure investment besides enabling superlative passenger experience are anticipated to skyrocket exponential growth rise in digital railway market, through the forecast years. finds Adroit Market Research.
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Digital railway infrastructure encompasses delivery of dynamic and a single stop solution to address multi-faceted issues that require prompt response delivery. Unlike conventional railway system which functions on legacy architecture and poses critical challenges interfering with operational efficiency, digital transformation of the railways with agile functional capabilities are expected to attain maximum operational productivity with minimum financial burden.
New Business Collaborations to Digitize Signaling Platform in British Railways
Some of the most tangible benefits of digital railways are reflected in improved signal deployment which substantially reduces accidents probability. Additional benefits such as capacity building and transit schedule are also automated to improve railway operations for freight and passengers alike.
Governments across the globe are assigning heavy funding policies to transform conventional railways into the digital counterpart, thus stoking growth in global digital railway market. In a recent development, government of UK has affirmed its fund allocation initiative to enhance signaling system of the British railways.
New partnership advances have also surfaced between Network Rail, Atkins and Siemens Mobility. The collaboration is poised to improve in-cab signaling for East Coast Main Line to reduce transit delays owing to signaling gaps. The project has already invested £350 million of the government funding to introduce digital signaling system.
Japan Railways Doles Out On-the-Go Fitness App to Aid Commuters’ Fitness Goal through Ride
Addressing passenger preferences for on-the-go fitness regimen, Japan Railways has roped in Japan based fitness solution provider Jexer to dole out health and fitness app that will allow passengers to avail of health and fitness guide with a smart phone app. The development is exemplary to improve passenger experience with digital railways.
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The global digital railway market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. Europe is considered a mature market in the digital railway applications, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. Nations from Western Europe including France, Germany, and the UK, have well-established railway infrastructure equipped with advanced digital railway systems. Moreover, Social, as well as trade agreements within the European Union nations, have encouraged cross-border trade, as well as passenger traffic commute in Europe.
The major players of the global digital railway market are Siemens, Hitachi, Alstom, Cisco, IBM, ABB, Huawei, Fujitsu, DXC, Indra, Thales, Atkins, Toshiba, and more. The digital railway market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Digital Railway Market
Offerings Overview, 2018-2028 (USD Billion)
• Solution
• Remote Monitoring
• Route Optimization & Scheduling
• Analytics
• Network Management
• Predictive Maintenance
• Security
• Others
• Services
• Professional Services
• Managed Services
Application Overview, 2018-2028 (USD Billion)
• Rail Operations Management
• Passenger Information System
• Asset Management
• Others
Regional Overview, 2018-2028 (USD Billion)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
• Middle East and Africa
• UAE
• South Africa
• Rest of Middle East and Africa
• South America
• Brazil
• Rest of South America
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Organization: Adroit Market Research
Website: https://www.adroitmarketresearch.com/industry-reports/digital-railway-market
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