Smart Railway Industry comprehensive analysis, industry revenue, forecast till 2026

1. Smart Railway Industry comprehensive analysis, industry revenue, forecast till 2026 Market Overview Rising adoption of IoT (Internet of Things) in railway infrastructure is one of the major factors driving growth of the market. Rising number of railroad accidents is another factor driving growth of the market. For instance, according to the analysis of Transport Safety Board of Canada, in Canada, the number of rail accidents occurred in 2013 was 1,036, which increased to 1,201 in 2014. These IoT devices communicate through the clouds to transmit data among themselves, send and receive instructions from the control centers, provide data, which in turn help rail operators to identify trains that are operating normally and the ones that need to be improved, information on what units need to be maintained, which train requires maintenance, and many more, which further increases the safety and security of the passengers while travelling. Moreover, adoption of IoT (Internet of Things) help in gaining a better knowledge of their passenger’s requirements such as the current status of a train, seat availability, freight management, and many more, which further helps in improving overall services of the railway. Hence, these factors are propelling growth of the smart railway market. Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/2134 Market Dynamics High initial cost of deploying the system in the rail transport is a major factor restraining growth of the market, as the installation of these systems require huge amount of investment from the government. Thus, lack of government support towards improving the railway infrastructure will negatively hamper growth of the market. Moreover, an outdated infrastructure of the existing rail transport will further hinder growth of the market. Europe accounted for the largest market share in 2017 and is expected to retain its dominance over the forecast period, owing to stringent government rules and regulations for increasing safety of passengers in the region. For instance, in April 2009, the European Commission adopted the European Railway Traffic Management System (ERTMS), which includes GSM-R, a radio system for enabling communication between the driver and the traffic management center and European Train Control System (ETCS), an automatic control system that helps to control speed limits of a train by communicating with the driver. For instance, according to the press release of Global Railway Review published on January 5, 2017, the European government made a deployment plan that by 2023 around 50 percent of the Core Network Corridors will be ERTMS equipped allowing trains to run seamlessly across borders, in order to increase safety of the railway system. Therefore, increasing government initiatives towards the installation of advanced technology will help in improving railway safety and will positively fuel growth of the smart railway market in this region. Get Request Customization Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/2134 Major players operating in the global smart railway market include Alcatel-Lucent International, ABB Ltd, Ansaldo STS, Alstom SA, Cisco Systems, Inc., Bombardier Transportation, GE Transportation, CGI Group Inc., Huawei Technologies Co. Ltd., Indra Sistemas, S.A., Hitachi Ltd., Computer Sciences Corp., ZTE Corporation, IBM Corporation, and Siemens AG.

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