March 13, 2020
As per the report titled ‘Asia Pacific Railway Management System Market Growth By Deployment Model, Component, Industry Analysis Report, Countries Outlook, 2018 – 2024’, available with Market Study Report LLC, Asia Pacific railway management system market is set to record substantial growth through 2024.
In terms of revenue, APAC railway management system market is expected to amass USD 16 billion by 2024. The region boasts of 40,000 km rail projects planned or in development stage making it one of the largest rail markets worldwide. Rapid urbanization and digitalization wave in the railway sector are cited as the major growth drivers of railway management system market in Asia Pacific.
Increasing mainline and urban passenger railway traffic, especially in countries such as Southeast Asia, China, and India, coupled with the emergence of railway 4.0, digital railway, and integration of industry 4.0 technologies such as cyber-physical systems, IoT, and cloud computing will bolster the market growth in the forthcoming years.
Moreover, increasing passenger demand for advanced rail transportation solutions which offer optimal mobility while ensuring safety, comfort and environmental safety will further boost the adoption of railway management systems.
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The report cites that low possibility of infrastructure expansion due to ever evolving rail traffic is demanding real-time train planning, and route scheduling solutions in Asia Pacific. These railway management systems offer real-time blockage identification and recognize the affected trains to organize resources and ensure passenger safety with lower management costs.
Considering the geographical landscape, Asia Pacific railway management system market is divided into India, China, Japan, Australia and New Zealand, South Korea, and Southeast Asia. According to the report, developing countries such as India and Malaysia are collaborating with developed countries such as China and Japan for importing advanced railway systems.
Major players in Asia Pacific railway management system market are Siemens, Tech Mahindra, Cisco, Hitachi, Huawei, Toshiba, and IBM Corporation. These companies are heavily investing in digitalization of the existing railway infrastructure to improve their stake in the market.
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