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Smart Railway Market Overview, Cost Structure Analysis, Growth Opportunities and Forecast to 2026

Smart railway systems are solutions and services that help the rail companies to collect information related to railway operations more closely and accurately. These systems help the rail operators to take timely action, which further helps in avoiding unwanted collision between the trains.

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Growing integration of IoT (Internet of Things) technology in railway is one of the major factors driving growth of the market

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.

Global Smart Railway Market: Competitive Landscape

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.

Global Smart Railway Market: Taxonomy

The global smart railway market is segmented on the basis of component type, service type, solutions, and region.

By Component Type:

  • Video Surveillance Cameras
  • Networking and Connectivity Devices
  • Multimedia Infotainment Displays

By Service Type:

  • Professional Services
    • Consulting Services
    • System Integration and Deployment
    • Support and Maintenance
  • Managed Services

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