According to the Graphical Research new growth forecast report titled “Asia Pacific Railway Management System Market Growth By Component (Solution [Rail Operation Management System {Revenue Management Solution, Ticketing Management Solution, Facility Management Solution, Workforce Management Solution, Rail Automation Management Solution}, Rail Traffic Management System {Real-Time Train Planning And Route Scheduling Solution, Intelligent Signaling Solution, Centralized Traffic Control Solution}, Rail Asset Management System {Train Information Solution, Track Monitoring Solution}, Rail Control System {Positive Train Control Solution, Communication-based Train Control Solution, Integrated Control System}, Rail Maintenance Management System {Vehicle Maintenance Scheduling Solution, Predictive Analytics For Maintenance Management Solution}, Passenger Information System, Rail Security], Service [Training and Consulting, System Integration and Deployment, Support and Maintenance]), By Deployment Model (On-Premise, Cloud), Industry Report, Growth Analysis & Forecast, 2018 – 2024”, estimated to exceed USD 16 billion by 2024.
The Asia Pacific rail market is one of the fastest growing markets in the world with around 40,000 km rail projects planned or under development. The growing trend of urbanization along with the digitalization of rail is a major factor contributing to the market growth. Passengers demand advanced rail transportation solutions that deliver ideal mobility in accordance with comfort, safety, and environmental sustainability, driving the adoption of the railway management system market.
The rise in the mainline and urban worldwide passenger railway traffic is growing at a fast pace with countries including Southeast Asia, China, and India, experiencing huge growth. This huge growth rate also contributes to the economic development of the region. Moreover, the emergence of Railway 4.0, Industry 4.0, and the digital railway is accelerating the Asia Pacific railway management system market.
The rising growth in the rail traffic and the reduced possibility of expanding the infrastructure have led to a rise in the demand for real-time train, planning, and route scheduling solutions in Asia Pacific. These solutions offer various benefits such as identifying blockages in real-time and immediately query them to recognize all affected trains thereby organizing resources and ensuring passengers’ safety. These solutions also assist in reducing costs by planning and organizing resources in advance, efficiently driving their market adoption.
The Asia Pacific railway management market includes multinational as well as domestic solution providers. The leading players functioning in this market include Tech Mahindra, Siemens, Cisco, Huawei, Hitachi, Toshiba, and IBM Corporation.
As the Asia Pacific railway management system market displays huge growth opportunities, various companies are investing funds for digitalization of the prevailing railway infrastructure. The developing countries including India and Malaysia are forming partnerships with developed countries such as Japan and China for importing advanced railway systems. Such collaborative efforts are augmenting the railway management system market growth in Asia Pacific.
Asia Pacific Railway Management System Market Statistics, By Component
- Solution
- Rail Operation Management System
- Facility Management Solution
- Revenue Management Solution
- Ticketing Management Solution
- Workforce Management Solution
- Rail Automation Management Solution
- Rail Traffic Management System
- Intelligent Signaling Solution
- Real-Time Train Planning and Route Scheduling Solution
- Centralized Traffic Control Solution
- Rail Asset Management System
- Train Information Solution
- Track Monitoring Solution
- Rail Control System
- Positive Train Control Solution
- Communication-Based Train Control Solution
- Integrated Control System
- Rail Maintenance Management System
- Vehicle Maintenance Scheduling Solution
- Predictive Analytics for Maintenance Management Solution
- Passenger Information System (PIS)
- Rail Security
- Others
- Rail Operation Management System
- Service
- Training and Consulting
- System Integration and Deployment
- Support and Maintenance
Asia Pacific Railway Management System Market Growth, By Deployment Model
- On-Premise
- Cloud
