Zion Research has published a new report titled “Railway Management System (Rail Operations Management Systems, Rail Traffic Management Systems, Rail Asset Management Systems, Rail Control Systems and Rail Maintenance Management Systems) Market for Professional Services, System Integration Services and Cloud Hosting Services: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020” According to the report, the global railway management system market was valued at approximately USD 19.60 billion in 2014 and is expected to reach approximately USD 34.25 billion by 2020, growing at a CAGR of around 9.8% between 2015 and 2020.
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Railway management systems are software applications developed with the help of modern Information and Communication Technology (ICT) for the efficient management of railways across the globe. These systems help rail management companies in managing various railway routes, schedules and capacities in near real time basis. Railway management system market combines software systems, products, and solutions in order to make more intelligent use of all rail assets (from tracks to railways) so that the railway management authority can meet the increasing passenger demand for more efficient and safer services.
Rise in freight and passenger traffic coupled with technological development in the railway sector are expected to be the major drivers for the railway management systems market. However, presence of numerous safety compliances may curb the demand for railway management systems within the forecast period. In addition to this, limited project funding is another major restraint for the market growth. Nonetheless, the rising infrastructure development in the railway sector is expected open new avenues for the market growth over the next few years.
Different service segments of the railway management system market include professional services, system integration services and cloud hosting services. Professional services was the major segment of railway management system and constituted 54.3% share of the global demand in 2014 and is expected to continue its dominance in global market over the forecast period. System integration service was second largest segment market in 2014. This segment is expected to exhibit moderate growth over the forecast period.
Based on system solution, the railway management system market has been segmented into rail operations management systems, rail traffic management systems, rail asset management systems, rail control systems and rail maintenance management systems. Rail operation management system dominated the railway management system market in 2014, which accounted for 39.2% share of the global market. Rail asset management system is another leading segment which constituted significant share of total market in 2014.
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Demand for railway management system was the highest in Europe, accounting for 38.6% of the market share in 2014. Europe was closely followed by Asia Pacific in terms of revenue in 2014. Railway transportation market is expected to show a dynamic growth in the long-term, highly influenced by new projects in Asia Pacific especially in China and India. Hence, this region is expected to be fastest growing region over the forecast period. This trend is anticipated to continue in the near future, majorly driven by high growth in this region.
Some of the key participants operating in the global railway management system market include ABB, Alstom, Ansaldo, Bombardier Transportation, GE Transportation, Hitachi, IBM, IndraSistemas, and Siemens AG.
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