MarketsandMarkets forecasts the global 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.
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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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The major vendors covered in the digital railway market 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).
These players have implemented various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to develop their presence in the digital railway market. The most widely used strategies by businesses have been partnerships and new product launches which helped them transform their offerings and widen their customer base.
Siemens was founded in 1847 and is headquartered in Munich, Germany. The company specializes in electrical engineering and electronics-related products and services. It provides various road solutions, which includes traffic management, connected mobility, parking, tunnel management, Intelligent Traffic System (ITS) digital lab, electromobility, integrated logistics, enforcement and tolling, and intelligent street lighting. The company provides its customers with consulting, planning, financing, construction, service, and operation of turnkey-mobility systems. Siemens offers a robust solution portfolio for railway operations. In the digital railway market, the company offers its key mobility services called Railigent, which helps railway companies manage assets better and smarter by using predictive maintenance, helping them reduce life cycle costs through extended service and maintenance intervals. It allows condition-based monitoring that enables trains and infrastructure to become more intelligent leading to greater efficiency. The Railigent open ecosystem offers more comprehensive asset management by integrating in-house and third-party applications. At present, the Railigent open ecosystem comprises fourteen members: Dellner, DMA, Frauscher, Ginkgo Management Consulting, igus, Knorr-Bremse, Menlo79, OXplus, Perpetuum, SKF, Strukton, voestalpine Signaling, Voith, and Wi-Tronix. Railigent offers added value, such as smart security, which helps operators in analyzing their systems, identifying potential vulnerabilities, and defining and implementing measures to protect their assets.
Cisco was founded in 1984 and is headquartered in California, US. It is primarily involved in designing, manufacturing, and selling Internet Protocol (IP)-based networking devices. The company offers integrated solutions that span networks, data centers, cloud, security, collaboration, analytics, and IoT. The company products and technologies are grouped into infrastructure platforms, applications, security, and other products. In addition to its product offerings, it gives a broad range of service offerings. Increasingly, the company is delivering technologies through software and services. Its customers consist of public institutions, governments, and service providers. The company offers Connected Rail solution for railways and other mobile transit environments. The solution provides onboard and off-board IP-based communications, including Wi-Fi services, video surveillance, passenger information and entertainment, and automated operations.
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