Increasing deployment of advanced Technologies like IoT in Railway Industry is positively impacting the Connected Rail Market Growth of Connected Rail

HYDERABAD, TELANGANA, INDIA, September 7, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Connected Rail Market size is forecast to reach $115.2 billion by 2027, growing at a CAGR of 5.8% from 2022 to 2027. Growing adoption of communication-based train control for automating traffic management and infrastructure control along with governmental initiatives towards increasing rail connectivity and operational efficiency of train operations is assisting its market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Key takeaways:

1. Passenger Information System is analyzed to grow with the highest CAGR in the global connected rail market during the forecast period 2022-2027, due to rising emphasis on providing real-time transit information to passengers, shift towards smart public transportation, and so on.

2. Connected Rail for Freight Wagons is analyzed to witness the fastest growth during 2022-2027, owing to government mandates for increasing last-mile trade connectivity for trade along with significant investments on logistic infrastructures.

3. Connected rail Market in North America is anticipated to grow during the forecast period 2022-2027 owing to the rising investment towards digital transformation of railway infrastructures, growing emphasis on R& D activities on connected rail solutions and so on.

4. Increasing deployment of advanced technologies like IoT in railway industry along with government initiatives towards increasing rail connectivity and operational efficiency of train operations is analyzed to significantly drive the market growth of connected rail during the forecast period 2022-2027.

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Segmental Analysis:

1. Passenger Information System is analyzed to grow with the highest CAGR of 7.1% in the global Connected Rail Market during the forecast period 2022-2027. Increasing R&D activities towards passenger information systems, growing adoption of integrated passenger information systems by railway operators, alongside significant demand for trains offering live arrival, destination and path crossed related information can also fuel the market growth forward.

2. North America region dominated the global connected rail market with a share of around 37% in 2021, attributed to rising investment towards digital transformation of railway infrastructures, growing emphasis on R& D activities on connected rail solutions and so on.

3. Freight Wagon is analyzed to witness the fastest growth with a CAGR of 6.3% in the global Connected Rail market during 2022-2027. Government mandates for increasing last-mile trade connectivity, along with rising number of investments towards expanding rail networks for logistic operations have been attributing to its market growth.

Competitive Landscape:

The top 5 players in the Connected Rail industry are -

1. Huawei Technologies Co. Ltd.

2. Siemens AG

3. Hitachi Limited

4. Wabtec Corporation

5. Trimble, Inc.

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