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Global Smart Railways Market to 2026 – Focus on Passenger Information System, Advance Security Monitoring Solution, Freight Information System, Smart Ticketing System and Rail Communication Systems – ResearchAndMarkets.com
The smart railways market was valued at US$ 11.67 Bn in 2017 and expected to grow at a compounded annual growth rate (CAGR) of 15.2% during the forecast period from 2018 to 2026.
Railway modernization programs in various countries is one of the most prominent factors aiding the smart railways market growth. Governments across several countries, in order to provide a premium travel experience and increase the safety and security of the passengers are investing on smart railway solutions.
Recent terrorist attacks on railways is another important factor leading the governments to invest on smart railway components such as video surveillance cameras. Technological advancements have further enabled railways to take advantage of Big Data and IoT in order to understand and develop insights pertaining to traveler behavior. These factors expected to create positive demand for smart railway components and solutions in the years to come.
However, high initial cost of deployment remains a major restraint for the market to flourish. This factor prevents large scale adoption of these technologies particularly in developing countries. Problems related to theft of multimedia devices on trains in these countries remains another major challenge for the smart railways market.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
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Chapter 3 Market Dynamics
Chapter 4 Global Smart Railways Market Analysis, By Solution, 2016 – 2026
Chapter 5 Global Smart Railways Market Analysis, By Component, 2016 – 2026
Chapter 6 North America Smart Railways Market Analysis, 2016 – 2026
Chapter 7 Europe Smart Railways Market Analysis, 2016 – 2026