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The global railway system market size reached US$ 25.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.4 Billion by 2027, exhibiting a CAGR of 4.78% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
The railway system refers to an organized arrangement that is responsible for managing the transportation of passenger and freight trains such as rail, monorail, scenic railway, metro, subway, cable and elevated railway. Over the years, rail transport has emerged as one of the most reliable modes of transportation with regards to security and safety. The railway system integrates technology with operations to streamline functions and deliver enhanced consumer satisfaction. It aids in managing train arrivals, departures, revenue, ticketing and cargo handling functions. Besides this, advanced railway systems use digital communications for disaster management and on-train processing to keep track of the speed and location of other trains.
Increasing urbanization and widespread digitalization across the globe are among the key factors driving the growth of the market. Growing population and rising expenditure capacities have augmented the demand for personal mobility across the world. Consumers are increasingly adopting public transportations, such as high-speed trains and metros to commute and avoid congestion on the road. Furthermore, the demand for dynamic and swift transportation systems by the rolling stock industry is also providing a boost to the market. Developing nations are extensively dependent on efficient asset and fleet management systems for remote diagnostics, asset planning and tracking services over long distances. Additionally, the integration of automation and the internet of things (IoT) technologies in railway systems is positively impacting the market growth. Railway systems are being combined with big data analytics solutions to control and manage the communication systems, which assist the operators to identify malfunctioning components and prevent breakdowns. Moreover, the implementation of favorable government policies supporting the emerging trend of smart cities is also projected to drive the market in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global railway system market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on transit type, system type and application.
Breakup by Transit Type:
Breakup by System Type:
Breakup by Application:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being ABB Ltd., Alstom, American Equipment Company, Bombardier Inc., Calamp Corporation, Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Fuji Electric, General Electric Company, Hitachi Ltd., Hyundai Rotem Company, Ingeteam Power Technology, Medcom, Mitsubishi Heavy Industries Ltd., Siemens Aktiengesellschaft, Škoda Transportation, Strukton Groep N.V., etc.
|Base Year of the Analysis||2021|
|Segment Coverage||Transit Type, System Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., Alstom, American Equipment Company, Bombardier Inc., Calamp Corporation, Construcciones y Auxiliar de Ferrocarriles, CRRC Corporation Limited, Fuji Electric, General Electric Company, Hitachi Ltd., Hyundai Rotem Company, Ingeteam Power Technology, Medcom, Mitsubishi Heavy Industries Ltd., Siemens Aktiengesellschaft, Škoda Transportation and Strukton Groep N.V|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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