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Digital Railway Market worth $100.1 billion by 2027 - Exclusive Report by MarketsandMarkets

CHICAGO, Aug. 5, 2022 /PRNewswire/ -- Digital Railway Market size is expected to grow USD 63.0 billion in 2022 to USD 100.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period, according to a new report by MarketsandMarkets.

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Browse in-depth TOC on 'Digital Railway Market'
202 - Tables
46 - Figures
223 - Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=206122052

By Solutions, Remote monitoring segment to grow at the highest market share during the forecast period

Train monitoring systems work as real-time rail location and detection systems. They track the rail location and provide details about the location, rail speed, and next station details to the passenger, train operator, and all the people who want to know that information. The monitoring solutions are systems capable of monitoring rail system health, rail tension, temperature, and engine health. Train tracking solutions also help dispatchers to make better decisions as they have more accurate and real-time information about each vehicle. Railways have limited operational flexibility and face increasing passenger and freight traffic demand on the existing infrastructure. The reliable provision of additional capacity requires an improved system for traffic control and management purposes, as well as for system reliability and safety. The use of smart infrastructure for fault prediction and the guidance of preventive maintenance help maintain operational capacity and improve the reliability of railway infrastructure and operational efficiency.

By Services Professional services is expected to grow at a highest market share during the forecast period

Professional services are provided by professionals or experts to assist customers. They include system integration and deployment, consulting, and support and maintenance. Professional service vendors offer a broad array of services with the help of cutting-edge technologies, tools, and strategies to meet the needs of organizations. The deployment and integration services ensure the proper integration of the digital railway solutions and services with various other components of the IT system. The support and maintenance services aim to provide technical support to customers and deliver enhancements and upgrades to digital railway solutions. Customers use consulting services to analyze their needs and understand the best fit according to their requirements.

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Europe region to record the highest market share in the Digital Railway Market

The European countries have been investing majorly in the modernization and upgradation of the rail infrastructure. The social and trade agreements among the European Union (EU) countries have promoted large-scale, cross-border trade and passenger traffic in Europe. High development is expected in the region, especially in communication technology, as the European Telecommunications Standards Institute (ETSI) has formed a individual committee to focus on the Machine-to-Machine (M2M) communication privacy standardization and high trading standards. The dynamics of the rail industry in Europe are changing with new freight and passenger management systems. Several European countries are expected to adapt to the new digital railway solutions to boost the efficiency of the existing infrastructure. In November 2021, the UK government announced a USD 126 billion investment in rail infrastructure to deliver faster and better journeys to more people across the country. This represents a significant opportunity for companies working toward developing new advanced connected rail solutions.

Key and innovative vendors in the Digital Railway Market are Siemens (Germany), Cisco (US), Hitachi (Japan), Wabtec (US), Alstom (France), IBM (US), ABB (Switzerland), Huawei (China), Thales (France), Fujitsu (Japan), DXC (US), Indra (Spain), Nokia (Finland), Atkins (UK), Toshiba (Japan), and Bombardier (Canada), ZEDAS (Germany), r2p (Germany), Simpleway (Czech Republic), Tego (US), Assetic (Australia), OXplus (Netherlands), Passio Technologies (US), Delphisonic (US), Uptake (US), KONUX (Germany), Machines With Vision (UK).

Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

Related Reports:

Railway Management System Market by Solution (Rail Asset Management, Track Monitoring, Revenue Management, Intelligent Signalling System, Route Planning & Scheduling, PTC, CBTC, PIS, Security & Analytics), Service, and Region - Global Forecast to 2025

Smart Railways Market by Offering (Solutions (Rail Asset Management and Maintenance, Operation and Control, Communication and Networking, Security and Safety, Rail Analytics) and Services (Professional and Managed)), and Region - Global Forecast to 2026

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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