Dublin, July 27, 2021 (GLOBE NEWSWIRE) -- The "Railway System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global railway system market exhibited moderate growth during 2015-2020. Looking forward, the publisher expects the market to grow at a CAGR of around 5% during 2021-2026.
The railway system refers to an organized arrangement that is responsible for managing the transportation of passenger and freight trains such as rail, monorail, scenic railway, metro, subway, cable and elevated railway. Over the years, rail transport has emerged as one of the most reliable modes of transportation with regards to security and safety.
The railway system integrates technology with operations to streamline functions and deliver enhanced consumer satisfaction. It aids in managing train arrivals, departures, revenue, ticketing and cargo handling functions. Besides this, advanced railway systems use digital communications for disaster management and on-train processing to keep track of the speed and location of other trains.
Increasing urbanization and widespread digitalization across the globe are among the key factors driving the growth of the market. Growing population and rising expenditure capacities have augmented the demand for personal mobility across the world. Consumers are increasingly adopting public transportations, such as high-speed trains and metros to commute and avoid congestion on the road.
Furthermore, the demand for dynamic and swift transportation systems by the rolling stock industry is also providing a boost to the market. Developing nations are extensively dependent on efficient asset and fleet management systems for remote diagnostics, asset planning and tracking services over long distances.
Additionally, the integration of automation and the internet of things (IoT) technologies in railway systems is positively impacting the market growth. Railway systems are being combined with big data analytics solutions to control and manage the communication systems, which assist the operators to identify malfunctioning components and prevent breakdowns.
Moreover, the implementation of favorable government policies supporting the emerging trend of smart cities is also projected to drive the market in the upcoming years.
Key Questions Answered in This Report:
How has the global railway systems market performed so far and how will it perform in the coming years?
What are the key regional markets in the industry?
What has been the impact of COVID-19 on the global railway system market?
What is the breakup of the market based on the transit type?
What is the breakup of the market based on the system type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global railway systems industry and who are the key players?
What is the degree of competition in the industry?
The report has also analysed the competitive landscape of the market with some of the key players being
American Equipment Company
Construcciones y Auxiliar de Ferrocarriles
CRRC Corporation Limited
General Electric Company
Hyundai Rotem Company
Ingeteam Power Technology
Mitsubishi Heavy Industries Ltd.
Strukton Groep N.V.
Breakup by Transit Type:
Diesel Multiple Unit (DMU)
Electric Multiple Unit (EMU)
Breakup by System Type:
Auxiliary Power System
Train Information System
Train Safety System
On-Board Vehicle Control
Breakup by Application:
Breakup by Region:
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/yzedaj
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