World Smart Railways Sector to Undergo Huge Transformation, States Research Nester in Topical Report Available at MarketPublishers.com19 Jul 2016 • by Natalie Aster
LONDON – With rising technological advances and digitalisation from pole to pole, the current conventional rail network is expected to undergo a huge transformation over coming 7-10 years. The radical change of current rail network is poised to support production of smart devices and solutions like advanced connecting and networking systems, security systems, rail operating and management systems, among others.
Region-wise, Western Europe takes the lead in the worldwide smart railways market, with North America following after. The UK and Hungary are 2 major smart railway markets in the region of Western Europe that are projected to witness the highest CAGR of 20% through to 2021.
The reason behind the enormous growth of the smart railways market is attributed to expanding population, urban growth, rising security and safety concerns amid passengers.
Meanwhile, high security and maintenance expenditure requirements in smart railways in tandem with security hazards pertaining to smart rail devices will likely restrain the growth of the world smart rail market in the years to come.
To date, the smart railways solutions segment captures the lion’s market share and is forecast to keep on dominating the market space over the projected period.
The smart cards and video surveillance camera segment is expected to witness the highest CAGR over the coming 5-6 years.
New research report “Global Smart-Railways Market Outlook 2021” elaborated by Research Nester examines the market on a worldwide level, categorising it based on devices, solutions, and services. A geographical market analysis is also provided. The research study provides an analysis of the market size and YoY growth rate; offers a detailed market trend analysis; canvasses the market dynamics including key driving factors and limiters; includes Porter’s five forces analysis; and also gives a risk analysis. The report presents an evaluation of the competitive landscape and profiles the leading market players. Future outlook for the market is provided, too.
More studies by our market research partner are available at Research Nester page.