Global Train Control Management System Market (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts
DUBLIN, May 9, 2022 /PRNewswire/ -- The "Train Control Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global train control management system market reached a value of US$ 3.11 billion in 2021. Looking forward, the market is projected to reach US$ 5.14 billion by 2027, exhibiting at a CAGR of 8.65% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is 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 mobile communication gateways (MCGs) use Wi-fi and global positioning system (GPS) solutions to utilize low-cost and high-bandwidth channels for providing train location to onboard and station systems. TCMS provides a secure and interconnected communication interface between automatic drain doors, air conditioners and ventilation systems, and aids in preventing faults in metros, trams, multiple-car trains, high-performance locomotives and high-speed trains. In comparison to the traditionally used standalone systems, TCMS integrates the data from multiple sources and provides more efficient services to locomotive drivers, maintainers and passengers.
Rapid digitization of the railway systems across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing availability of high-speed communication systems is providing a thrust to the market growth. With the rising requirement for secure, safe and efficient transportation systems, both underground and ground-level locomotives, including automated metros and high-speed trains, are integrated with sophisticated onboard cameras, sensors and communication devices.
Additionally, various technological advancements, such as the integration of connected devices with the Industrial Internet of Things (IIoT), artificial intelligence (AI), big data and machine learning (ML) solutions, are acting as other growth-inducing factors. These solutions are also connected with cloud computing and cyber security solutions to operate smart signaling, real-time train planning, route scheduling and centralized controlling systems. Other factors, including the wdespread adoption of Mobility-as-a-Service (MaaS) business models, along with significant improvements in railway infrastructure, are anticipated to drive the market toward growth.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alstom, Aselsan, Bombardier Inc., Construcciones y Auxiliar de Ferrocarriles S.A., EKE-Electronics Ltd, General Electric Company, Hitachi Ltd., Knorr-Bremse Systeme fur Schienenfahrzeuge GmbH, Medha Servo Drives Private Limited, Mitsubishi Electric Corporation, Siemens AG and Thales Group.
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