The connected rail market was valued at $86.8 billion in 2021, and is estimated to reach $143.8 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Presently, the global connected rail market is dominated by North America followed by Europe, Asia-Pacific, and LAMEA. In Asia-Pacific, the market is mainly driven by China owing to the optimistic market scenario for the railway sector in the region. In North America, the US is foreseen to witness considerable growth in the connected rail market during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/12541
The connected rail market is segmented on the basis of service, rolling stock, safety & signaling system, and region. By service, the market is divided into passenger information system, train tracking & monitoring, automated fare collection system, passenger mobility, and predictive maintenance. By rolling stock, it is classified into freight wagons, passenger wagons, diesel locomotive, electric locomotive, and light rail & trams. By safety & signaling system, it is classified into positive train control, communication-based train control, and automated train control. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Furthermore, the significant factors impacting the demand for connected rail are integration of the Internet of Things (IoT) in the railway industry, rise in demand for safety and compliance in rail transit, and increase in demand for passenger and freight capacity are expected to drive the market growth. However, lack of technological infrastructure & consistency in developing countries and infrastructure changes of the existing system are expected to hamper the market growth. Furthermore, technological advancements in autonomous rail & green transport and increase in reliance on computing systems are anticipated to offer remunerative opportunities for expansion of the market in the future.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/connected-rail-market/purchase-options
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ :
By service, the passenger vehicle segment dominated the global connected rail market in 2021, in terms of revenue.
By rolling stock, the electric locomotive segment is expected to register significant growth, registering a CAGR of 7.0% during the forecast period.
By safety & signaling system, the communication-based train control segment is expected to register significant growth, registering a CAGR of 6.1% during the forecast period.
By region, Europe dominated the global connected rail market in 2021 in terms of market share.
The prominent players profiled in connected rail market includes Alstom, Cisco Systems Inc., Hitachi Ltd., Huawei Technologies Co., Ltd., IBM (International Business Machines) Corporation, Nokia, ROBERT BOSCH GmbH, Siemens AG, Wabtec Corporation, and Trimble, Inc.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/12541
About Us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of โMarket Research Reportsโ and โBusiness Intelligence Solutions.โ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact :
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1โ800โ792โ5285
UK: +44โ845โ528โ1300
Hong Kong: +852โ301โ84916
India (Pune): +91โ20โ66346060
Fax: +1โ800โ792โ5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com