DUBLIN, August 11, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Smart Railways Systems Market 2016-2020" report to their offering.
The analysts forecast the global smart railways systems market to grow at a CAGR of 27.34% during the period 2016-2020.
Global Smart Railways Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Traffic congestion on roadways and airways has increased the demand for railway transport. It is more feasible and convenient for passengers to travel by train than any other mode of transportation as it can provide faster services at a reasonable price. Moreover, railways are considered as a faster and safer option compared with roadways. The increase in demand for railway transport has made it mandatory for railway operators to make their systems more advanced and automated. A smart railway system comprises solutions, devices and components, and services that automate and optimize the use of railway infrastructure to carry out advanced functions.
Increased adoption of analytics and big data will be a key trend for market growth. Many railways have been using cloud computing and big data analysis as part of their operations to gain a better knowledge of customer's needs. The Slovenian railways has adopted IBM's cloud solution to improve business operations and customer services. Hitachi is also another large vendor that provides cloud computing and big data services to many railways.
According to the report, changing travel demands of people will be a key driver for market growth. Railways are considered as the fastest mode of transportation in most regions (after airway services). The railways industry also plays a major role in the economic growth of a country. Most of the countries are investing more in their railway systems as people prefer to travel by train rather than by roadways and airways.
Key vendors
- Alstom
- Bombardier
- Cisco System
- General Electric
- Hitachi
- IBM
Other prominent vendors
- Huawei Technologies
- Indra Sistemas
- Siemens
- Alcatel-Lucent
- Ansaldo STS
- ABB Group
- CGI Group
- Computer Sciences
- ZTE
- DB International
- Kapsch CarrierCom
- Larsen & Toubro
- MRX Technologies
- Rad Data Communications
For more information about this report visit http://www.researchandmarkets.com/research/kjwm6k/global_smart
Related Topics: Rail
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