Digital Rail Market Worth $100.1 Billion by 2027 –

Chicago, Aug. 17, 2022 (GLOBE NEWSWIRE) — According to a new report from MarketsandMarkets™, the digital rail market size is expected to grow from USD 63.0 billion in 2022 to reach USD 100.1 billion by 2027, at a compound annual growth rate (CAGR) of 9.7 % over the forecast period.

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By solutions, the remote monitoring segment is expected to grow with the highest market share during the forecast period

Train monitoring systems operate as real-time railway tracking and detection systems. They track rail location and provide details of location, rail speed and next station details to passenger, rail operator and all people who want to know this information. Monitoring solutions are systems capable of monitoring rail system health, rail voltage, temperature, and motor health. Train tracking solutions also help dispatchers make better decisions because they have more accurate, real-time information about each vehicle. Railways have limited operational flexibility and face increasing demand for passenger and freight traffic on existing infrastructure. The reliable provision of additional capacity requires an improved system for traffic control and management purposes, as well as system reliability and security. The use of intelligent infrastructure for fault prediction and preventive maintenance guidance helps maintain operational capability and improve railway infrastructure reliability and operational efficiency.

Professional services are expected to grow to highest market share over the forecast period

Professional services are provided by professionals or experts to help customers. They include system integration and deployment, consulting, support and maintenance. Professional service providers offer a wide range of services using cutting-edge technologies, tools, and strategies to meet the needs of organizations. Deployment and integration services ensure the proper integration of digital railway solutions and services with various other components of the IT system. Support and maintenance services aim to provide technical support to customers and to provide enhancements and upgrades to digital railway solutions. Clients use consulting services to analyze their needs and understand the best solution based on their requirements.

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Europe Region to Record Highest Market Share in Digital Rail Market

European countries have invested heavily in modernizing and upgrading railway infrastructure. Social and trade agreements between European Union (EU) countries have fostered large-scale cross-border trade and passenger traffic in Europe. Significant development is expected in the region, particularly in the area of ​​communications technology, as the European Telecommunications Standards Institute (ETSI) has formed an individual committee to focus on standardizing Machine-to-Communications Privacy. -Machine (M2M) and high business standards. The dynamics of the rail industry in Europe are changing with new freight and passenger management systems. Several European countries are expected to adapt to new digital rail solutions to increase the efficiency of existing infrastructure. In November 2021, the UK government announced a $126 billion investment in rail infrastructure to deliver faster, better journeys to more people across the country. This represents a significant opportunity for companies working to develop new advanced connected rail solutions.

Key and innovative suppliers in the Digital rail market are Siemens (Germany), Cisco (USA), Hitachi (Japan), Wabtec (USA), Alstom (France), IBM (USA), ABB (Switzerland), Huawei (China), Thales (France ), Fujitsu (Japan), DXC (USA), Indra (Spain), Nokia (Finland), Atkins (UK), Toshiba (Japan) and Bombardier (Canada), ZEDAS (Germany), r2p (Germany) , Simpleway (Czech Republic), Tego (USA), Assetic (Australia), OXplus (Netherlands), Passio Technologies (USA), Delphisonic (USA), Uptake (USA), KONUX ( Germany), Machines With Vision (UK).

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