The global railway management system market is expected to be driven primarily by increased demand for a dynamic and swift transport mode. Demand for improved efficiency across the rail industry is expected to drive market for advanced asset and fleet management tools, including remote diagnostics, passenger information and asset planning. Increasing participation by private entities in government managed rail markets, road congestion issues owing to rapid urbanization, and surging demand for multimodal transport and low-fares are expected to positively impact the railway management system industry over the next few years. A railway management system helps increase efficiency without compromising on customer safety. Further, the technology also provides customers with real time information transfer and sharing capability, thereby enabling improved travel experience and planning. Technological advancements have led to increased adoption of automated technology for efficient management of railway network and infrastructure. Rail operations management systems, rail traffic management systems, rail asset management systems, rail control management systems, and rail maintenance management systems are some of the major railway management solutions.
Increasing passenger & freight traffic, unoptimized use of rail networks and inefficient management of operating & maintenance costs may pose a challenge to the market growth. Rail operations coupled with new age information and communication technology solutions are expected to help the railway management system market overcome the aforementioned challenges. Further, the need to comply with the industry safety standards in order to provide safe and reliable service is also expected to spur market demand.
The railway management system market mainly comprises systems & solutions and services. Railway operators automate their systems and provide an efficient service to their customers with the help of the aforementioned products/solutions.
North America is expected to emerge as a lucrative market, which can be attributed to the technological developments and state-of-the-art infrastructure in this region. Asia-Pacific is also expected to witness high growth owing to the increased adoption rate of new technologies in developing economies such as China, India and Japan.
Key players in the railway management system market include Indra Sistemas, Computer Sciences Corporation, GE Transportation, ABB Ltd., Ansaldo STS, Hitachi Ltd., Alstom, IBM Corporation and Bombardier Inc.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.