The global train collision avoidance system market 2019-2023 is expected to post a CAGR of more than 11% during the forecast period, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global train collision avoidance system market from 2019-2023. (Graphic: Business Wire)
One of the key factors driving the growth of the market is the increasing adoption of high-speed rail networks by emerging economies. Developing nations are using high-speed trains to provide cost-effective and safe transportation. The expanding railway network and incremental use of trains by passengers also boost the demand for high-speed rail. Moreover, the growth in adoption of high-speed rail in emerging economies can be attributed to the increase in disposable income among the lower middle-class population. These factors will automatically result in high demand for train collision avoidance systems because they help to avoid accidents by offering timely warning or situational awareness.
As per Technavio, the increasing adoption of IoT in railways will have a positive impact on the market and contribute to its growth significantly over the forecast period. Thisglobal train collision avoidance system market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over the forecast period.
Global train collision avoidance system market: Increasing adoption of IoT in railways
To control and manage technology and communication systems, there is a high adoption of IoT in modern railways. This is further facilitated by the growing capabilities of industrial IoT components and systems. Moreover, IoT also helps railroad companies achieve condition-based and predictive maintenance models. The train collision avoidance systems incorporated with IoT are increasingly being used by railways as they allow operators to perform early predictive maintenance and reduce the chances of breakdown during operation.
"SNCF, a French railway operator started the implementation of IoT in train scheduling and maintenance operations. The operator is jointly working with IBM to utilize its Watson IoT and cloud platforms for predictive maintenance and early warning. Similarly, in the city of Linz, Austria, the implementation of IoT can be seen in the light rail transit system. This system involves ticketing machines and stations using IoT systems to improve transportation efficiency and customer experience," says a senior analyst at Technavio.
Global train collision avoidance system market: Segmentation analysis
This market research report segments the global train collision avoidance system market by application (freight trains and passenger trains) and geographical regions (Europe, North America, APAC, MEA, and South America).
Europe led the market in 2018 with a market share of close to 36%, followed by North America, APAC, MEA, and South America respectively. The dominance of Europe can be attributed to the presence of several major companies including, Alstom, Siemens, and Thales Group that operates in the railway transportation sector. The region is also witnessing high demand for upgraded railway infrastructure with new advanced solutions and efficient monitoring systems.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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