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Insights on the Railway Management System Global Market to 2027 - by Component, Deployment Mode, Organization Size and RegionDUBLIN, Sept. 19, 2022 /PRNewswire/ -- The "Railway 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 railway management system market size reached US$ 44.31 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 88.92 Billion by 2027, exhibiting a CAGR of 12.31% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are 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. A railway management system involves various tools that are designed for performing, supporting, and managing different operations effectively across the railway industry. It necessitates continuous freight operations, such as rail planning and traffic, assets, infrastructure management, operation control, station communication, and maintenance schedules. These solutions assist in overseeing booking details, checking the availability of trains based on sources and destinations, tracking speed, analyzing data, handling cargo, and managing staff and passenger information. Apart from this, railway management systems employ advanced digital communication and disaster management systems, which further help in delivering enhanced consumer satisfaction, while ensuring optimum security and safety. At present, it is commercially categorized based on its varying deployment models, such as on-premises and cloud. The widespread adoption of railway management systems can be attributed to the increasing need to optimize transportation management, reduce operational costs, ensure the safety of passengers, and improve revenue. This, along with rapid urbanization, growing working population, and the increasing need for convenient transportation, particularly in developing regions, are currently driving the market growth across the globe. In line with this, the increasing incorporation of on-train processing systems and advanced digital communications, such as railway management systems, have enabled the availability of high-speed internet connectivity and offered enhanced comfort to consumers, which is contributing to the market growth. Additionally, government bodies of various countries are consistently upgrading existing railway infrastructure through the integration of big data analytics, intelligent sensors, and the Internet of Things (IoT), which is acting as another major growth-inducing factor. These technologies further assists in minimzing deployment time, reducing bottlenecks, enhancing services, and facilitating efficient workflow. Apart from this, the increasing incorporation of disaster management in railway systems and the rapid establishment of smart cities across the globe are further creating a positive outlook for the market. Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Alstom SA, Capgemini SE, Cisco Systems Inc., General Electric Company, Hitachi Ltd., Huawei Technologies Co. Ltd., Indra Sistemas S.A., International Business Machines Corporation, Nokia Corporation, Siemens AG and Thales Group. Key Questions Answered in This Report:
Key Topics Covered: 1 Preface For more information about this report visit https://www.researchandmarkets.com/r/ncgtju Media Contact: Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/insights-on-the-railway-management-system-global-market-to-2027---by-component-deployment-mode-organization-size-and-region-301627062.html SOURCE Research and Markets |