TMCnet News
Train Communication Gateways Systems Market to Reach $1.3 Billion, by 2032 at 26.1% CAGR: Allied Market ResearchRising demand for intelligent transport systems and extensive adoption of mobility and interoperability are expected to drive the global train communication gateways systems market growth. NEW CASTLE, Del., March 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Train Communication Gateways Systems Market by Product Type (Wire Train Bus Gateways, Multifunction Vehicle Bus (MVB) Gateway and Others), and Application (Conventional Railways and Rapid Transit Railway): Global Opportunity Analysis and Industry Forecast, 2022–2032". According to the report, the train communication gateways systems industry generated $124.3 million in 2022, and is anticipated to generate $1.3 billion by 2032, witnessing a CAGR of 26.1% from 2023 to 2032. Prime Determinants of Growth Moreover, rising demand for intelligent transport systems and extensive adoption of mobility and interoperability are the factors expected to propel the growth of the global market. However, high cost associated with rail infrastructure is anticipated to hamper the growth of the global market. On the contrary, increase in communication mediums in the rail service is further likely to create lucrative opportunities for the growth of the global market. Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/A314256 Report Coverage & Details:
Buy this Complete Report (350 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/train-communication-gateways-systems-market/purchase-options The multifunction vehicle bus (MVB) gateway segment to maintain its leadership status during the forecast period By product type, the multifunction vehicle bus (MVB) gateway segment held the highest market share in 2022, accounting for more than two-thirds of the train communication gateways systems market revenue and is estimated to maintain its leadership status during the forecast period. As it helps to integrate the diverse systems, creating a unified and coordinated operation of the entire train, which is further expected to propel the overall market growth. However, the others segment is expected to attain the largest CAGR of 28.3% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. This is due to the increase in the integration of ethernet and mobile communication gateway solutions. The conventional railways segment to maintain its lead position during the forecast period By application, the conventional railways segment accounted for the largest share in 2022, contributing for more than three-fifths of the train communication gateways systems market revenue, as railways are highly efficient for mass transportation of passengers and freight over long distances. However, the rapid transit railways segment is expected to attain the largest CAGR of 27.6% from 2023 to 2032 and is projected to maintain its lead position during the forecast period as rapid transit systems are generally more cost-effective than building and maintaining road infrastructure to accommodate the same volume of passengers. Thereby, driving the growth of this segment in the global train communication gateways systems market. North America region to maintain its dominance by 2032 By region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the train communication gateways systems market revenue. Increase in the usage of train communication gateways systems in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to attain the highest CAGR of 31.1% from 2023 to 2032. Countries such as India and China are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which further is expected to contribute to the growth of the market in this region. Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A314256 Leading Market Players: -
The report provides a detailed analysis of these key players in the train communication gateways systems market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model): AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports. Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
|
View original content: