The global Railway Management System Market size is expected to reach USD 89.94 Billion in 2030 and register a revenue CAGR of 8.2% over the forecast period, according to latest report by Reports and Data. Increasing demand for efficient rail operations and growing population and hyper-urbanization are factors contributing to rapid market revenue growth. The Asset Management System provides improved operation and control, energy & asset management, staff & passenger information management, traffic planning, and analytics, among various other benefits. Also, these systems deploy advanced connectivity services and on-train processing for tracking location and speed of trains.
The Asset Management System incorporates several types of manual and automatic systems, which comprise numerous solutions and services that aid in quick and better management of railways. Various services and activities conducted during railway operation include train scheduling, route traffic management, power supply and infrastructure management, and station control. The Asset Management System encompasses all parts of rail journey, from departure of the train from the shed (parking) until its arrival at the destination shed. Key components of Asset Management System are rail traffic management system, rail operation management system, rail asset management system, rail maintenance management system, and rail control system. Changing trends and technological advancements in railway industry have reduced operation timeframes for addressing difficulties.
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The integration of the Global Navigation Satellite System (GNSS) with other sensors in train control systems offers numerous benefits and capabilities. Here are some key points:
1. Improved train signaling: GNSS provides precise and real-time positioning information, enabling accurate and reliable train signaling. This helps in maintaining safe distances between trains, reducing the risk of collisions or derailments.
2. Enhanced train location monitoring: By utilizing GNSS, the exact location of trains can be continuously monitored. This information can be used for various purposes, such as schedule optimization, real-time tracking, and efficient logistics management.
3. Increased train frequencies: With the ability to maintain safe distances between trains using GNSS, it becomes possible to reduce the minimum distance required between trains. This leads to increased train frequencies and improved overall capacity of the railway network.
4. Mapping transportation infrastructure: GNSS can be used to map and monitor transportation infrastructure, including tracks, switches, and other relevant features. Accurate mapping helps in maintenance planning, asset management, and overall operational efficiency.
5. Positive Train Control (PTC): PTC systems, which are increasingly adopted in modern railways, leverage GNSS technology to enhance safety. PTC systems can automatically adjust train speeds, redirect traffic, and ensure compliance with safety regulations, preventing collisions, derailments, and other incidents.
6. Traffic Management Systems (TMS): TMS combines advanced system technology with field equipment to deliver superior operational efficiency. By integrating real-time data from traffic detection systems, TMS optimizes traffic flow, reduces delays, and improves overall time savings. It also provides verified safety benefits by enabling proactive management of train movements.
Solution Type Outlook (Revenue, USD Billion; 2019–2030)
- Asset Management System
- Traffic Management System
- Asset Management System
- Control System
- Security
- Communication and Networking System
- Analytics
- Passenger Information System
- Freight Information System
Services Type Outlook (Revenue, USD Billion; 2019–2030)
- Consulting
- System Integration and Deployment
- Support and Maintenance
Deployment Type Outlook (Revenue, USD Billion; 2019–2030)
- Cloud
- On-premises
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Key Regional Markets Covered in the Report:
· North America (U.S., Canada, Mexico)
· Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Top Companies Operating in the Global Railway Management System Market:
ABB Limited, IBM Corporation, Cisco Systems Inc. Huawei Technologies Co., Ltd., Siemens AG, Capgemini, Honeywell International Inc., Accenture Plc., Hitachi Ltd., and DXC Technology Company.
Some Key Highlights from the Report
· By offering, services segment is expected to grow at a faster rate during the forecast period. Support and maintenance services include troubleshooting help 24/7, upgrading existing freight management system solutions, problem-solving, repairing, and replacing failed components, and proactive services, along with technical support by technicians and test scenario management. Support and maintenance service, in addition to facility inspection and training, provides round-the-clock support for Asset Management System solutions. Asset Management System frequently employs these services to avoid risks, such as system failure, fire accidents, internal & external risk, and equipment protection.
· Solutions segment of the Railway Management System Market is expected to account for a larger market revenue share over the forecast period. For expanding and creating modern and automated railway infrastructures, inclusion of various Asset Management System solutions is of key importance for the railway sector.
· Railway Management System Market in Europe accounted for largest revenue share in 2020 and is expected to grow at a faster rate over the forecast period. Western European countries with well-established railway infrastructure, such as UK, France, and Germany, are implementing a variety of modern Asset Management Systems. European countries are making significant investments in modernizing and upgrading their current rail systems. Social and commercial agreements among EU member states have facilitated large-scale, cross-border trade and passenger transportation in Europe. The region is expected to witness rapid growth in adoption of Asset Management System solutions, particularly in communication technology, with the European Telecommunications Standards Institute (ETSI) forming a separate committee to focus on Machine-to-Machine (M2M) communication privacy standardization and high trading standards. GSM-R, a part of ETSI/3GPP GSM specifications, possesses specific Quality of Service requirements for applications in harmonized operation of railways.
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