Rail Asset Management Market Scenario Highlighting Major Drivers & Growth Forecast by 2031

Rapid urbanization, increase in the adoption of digitalization, surge in the demand for effective railroad operations, rise in the popularity of artificial intelligence, and growth in the prevalence of cloud-based railway management solutions are expected to drive the growth of the global Rail Asset Management Market. Shutdown of passenger transportation, delay or cancellation of projects and shortage of workforce during the pandemic had a negative impact on the growth of the global rail asset management market.

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The report offers detailed segmentation of the global rail asset management market based on offering, deployment, application area, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

Based on offering, the solution segment held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.3% during the forecast period. The report also analyses other segments such as the services segment.

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Based on region, the market across Europe held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.1% during the forecast period.

The key players analyzed in the global rail asset management market report include Accenture plc, Alstom SA, Capgemini SE, Cisco Systems, Inc., Hitachi, Ltd., Huawei Technologies Co., Ltd., International Business Machines Corporation (IBM), L&T Technology Services Limited (LTTS), SAP SE and Siemens AG.

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COVID-19 Scenario:

  • The COVID-19 pandemic had a negative impact on the growth of the global rail asset management market, owing to the occurrence of lockdowns in various countries across the globe.
  • Lockdowns resulted in the closure of all sorts of passenger transportation, including railways, buses, and others, which adversely impacted the growth of the market.
  •  In addition, there was delay or cancellation of ongoing projects due to the prevalence of stringent social distancing restrictions as imposed by the governments of various countries across the globe.
  • These restrictions were imposed to appreciably curb the spread of the virus during the pandemic.
  •  However, the market is expected to recoup in the post-pandemic era after eased restrictions.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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