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Railway Management System Market Worth $35.99 Billion by 2019
|By PR Newswire
|April 1, 2014 11:37 AM EDT
DALLAS, April 1, 2014 /PRNewswire/ --
The report "Railway Management System Market (Operations Management, Intelligent Signaling, Traffic Analytics, Asset Management, Control Systems, Maintenance Management, System Integration, Cloud Hosting) - Worldwide Market Forecasts and Analysis 2014-2019", published by MarketsandMarkets, the Railway Management System Market is estimated to grow from $19.58 Billion in 2014 to $35.99 Billion in 2019
Browse more than 83 market data tables with 38 figures spread through 147 pages and in-depth TOC on "Railway Management System Market"
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The Railway Management System Market is estimated to grow from $19.58 billion in 2014 to $35.99 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period of 2014-2019.
Severe challenges pose a major threat to the rail industry following conventional management practices. The tremendous economic and demographic growth has inflicted a sharp rise in freight and passenger traffic. The operating and maintenance costs need to be managed efficiently for future growth and future expansions. The industry needs to meet the safety standards and compliances to provide a safe and reliable service. In order to face these challenges, the rail companies should combine their rail operations and new-age information and communication technology (ICT) solutions.
Transforming the conventional architecture to the modern IT-backed infrastructure would ensure the evolution of new operation and traffic management solutions. Sustenance in the competitive rail service market can be achieved due to the changing environmental trends which demand an advanced eco-friendly transport solution. Railway management systems possess the driving potential to bring about the next desired growth phase in the railway industry.
This MarketsandMarkets report outlines the key trends that will shape the evolution of the railway service industry. The report is segmented into various railway management systems and solutions, services, and regions. The Railway Management System Market research report analyzes global adoption trends, future growth potential, competitive outlook, rail transportation ecosystem, and the best practices in this market.
This report speaks about the expected market size for the various railway management solutions involved in the rail operations and infrastructure. It also highlights the revenue potential of the various professional services, system integration services, and cloud hosting services offered by railway solution vendors.
The Railway Management System Market research report consists of the opportunity analysis of various types of railway management solutions such as rail operations management systems, rail traffic management systems, rail asset management systems, rail control management systems, and rail maintenance management systems. The report analyzes market sizes and revenue forecasts across different regions such as North America (NA), Asia Pacific (APAC), Europe, Latin America (LA), and Middle East and Africa (MEA).
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