The global connected rail market is expected to grow from approximately USD 94.6 billion in 2022 to reach 124.5 billion by 2027, at a CAGR of 5.6%. Rapid urbanization, a growing population, and the continuous innovation of new technologies are also driving the connected rail market. Growing need for safety and compliance in rail transit is also driving the connected rail market.
The North American connected rail market is dominated by domestic manufacturers such as Cisco (US), IBM (US), Wabtec Corporation (US), Trimble (US), Sierra Wireless (US), and CalAmp (US). The US government, in an effort to increase the safety and security of the country’s railways, has instituted certain mandates, which, in turn, has resulted in increased R&D by local and international railway rolling stock and technology manufacturers. The increasing use of technology in railways presents several opportunities for connected rail technology manufacturers. In May 2021, Siemens announced the acquisition of RailTerm, a Canada-based rail service provider. This acquisition will help the company expand its product portfolio of on-ground track and signaling, electrification, and communication systems. The major growth drivers for the market in the region are the increasing number of projects focused on upgradation and the construction of freight infrastructure and high-speed railway lines.
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The European Rail Traffic Management System (ERTMS) is one of the biggest European exports and is the most widely accepted train control system in countries such as China, India, Taiwan, Saudi Arabia, and South Korea as of 2021. There have been major innovations in the European railway industry, such as automatic systems for obstacle detection, medium frequency traction transformers, energy storage technologies, improved regenerative braking, satellite-based positioning systems, hybrid and diesel-electric technologies, and the use of lightweight materials. In October 2021, Deutsche Bahn (DB) and Siemens Mobility developed the world’s first automatic train, which is fully automated and controlled by digital technology and needs no human interference. This development is the part of Digital S-Bahn Hamburg project.
Asia Pacific is expected to have fast growth in the connected rail market, due to the increasing adoption of new technologies, rising investments for digital transformation, and growing GDP in Asia Pacific countries. A majority of the potential economies in the region include China ,Japan and India, which are said to rapidly invest in technological transformation. The high population growth rate in the region has intensified the need for transformation and expansion of the existing rail infrastructure. In a more recent development in Asia, China opened its first privately controlled high-speed railway in Zhejiang province in January 2022, which will be a promising example for private capital to invest in the nation’s railway sector and also be a testament to growing investment in the rail infrastructure.
Key Market Players:
The global connected rail market is dominated by major players such as Robert Bosch GmbH (Germany), Siemens (Germany), Hitachi (Japan), Huawei (China), and Wabtec Corporation (US). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies have adopted strategies such as new product developments, deals and others to sustain their market position.
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