Railway Management System Market: Industry Trends and Insights

Railways are considered as the fastest mode of transportation in most regions (after airway services). The railways industry also plays a major role in the economic growth of a country. Most of the countries are investing more in their railway systems as people prefer to travel by train rather than by roadways and airways. For instance, the Middle East countries are spending a lot of funds on making their railway systems better and more advanced.

The UAE has installed ERTMS in its newly constructed railway line operated by Etihad Railways. Turkey is also expected to have new high- speed Level 1 and Level 2 ERTMS lines starting from Ankara, Turkey. As railways are emerging as the preferred mode of transportation among customers, these factors are driving the market for smart railway systems during the forecast period. The increase in urbanization and demographics calls for a better transportation system. For instance, in Europe, long-distance railway passenger traffic will grow at a CAGR of around 2.5% and reach a value of 1.36 billion passengers by 2020.

The majority of the traffic can be expected on four major lines: France, the UK, Germany, and Switzerland. Rail passenger traffic will grow by 29% for the period of 2011-2020. By the end of 2020, the number of French railway passengers is predicted to increase to 163 million, while the number will reach 118 million in Germany. The rise in economic growth in many countries and the increase spending power of the people are also driving the market for railway management system. People do not mind paying more for better and more efficient railway services. Therefore, railway operators globally are switching to advanced railway management systems to enable faster travel and convenience to commuters.

Most of the railway devices, solutions, and services are provided by Japanese manufacturers. The market is moderately competitive, with all market players competing to gain market shares.

Rapid advances in technology, growing population, and frequent changes in customer preferences constitute significant risk factors for the market vendors. Therefore, to survive and succeed in this stiff competitive environment, it is imperative for vendors to distinguish their product and service offerings through clear and unique value propositions. Companies are spending massive amounts on R&D to provide better devices, components, and solutions to their clients. For instance, Alstom designs and manufactures products and systems for the power generation and rail transport markets worldwide.

As a result of the rapid technological advancement, new devices, components, services, and solutions are being launched in the market. When the Internet and automated devices came into existence, companies were charging high prices for these services and devices and components. The prices of such devices and solutions have declined, making them accessible for companies to make their systems automated. So, the decreasing cost of hardware and connections is driving the market for railways to make their system advanced and automated.

Countries that are not financially strong can now afford to upgrade their systems at a lower cost and enhance their efficiency and also retain customers through these services. In addition, Railways are updating and automating their systems to reduce the operating time. With the emergence of advanced solutions in the market, the demand for smart railways is increasing.

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