Global Train Control And Management Systems Market Forecast 2023-2032 – Market Size, Drivers, Trends, And Competitors As Per The Business Research Company's Train Control And Management Systems Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, July 03, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Train Control And Management Systems Market Report 2023, the market will grow from $3.7 billion in 2022 to $3.9 billion in 2023, at a compound annual growth rate (CAGR) of more than 7%. Further, the train control and management systems market will reach $5 billion in 2027, with a CAGR of more than 6%. Asia-Pacific was the largest region in the train control and management systems market in 2022.
The growth of the train control and management system industry is primarily driven by the expanding railway sector worldwide. This sector encompasses rail transportation and related industries, including railroads, tracks, tunnels, bridges, elevated rail, and magnetic levitation. Train control and management systems play a vital role in assisting railways by facilitating real-time vehicle detection, inspection, and rail tracing.
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Major train control and management systems companies are Alstom, Bombardier Inc., Siemens, Hitachi Ltd., Mitsubishi Electric Corporation, Strukton, Wabtec Corporation, Toshiba Corporation, Thales Group, CAF Group, Selectron Systems AG, ABB Ltd., Knorr-Bremse AG, Indra Sistemas, DXC Technology, Trimble Inc., and Frequentis.
A key trend in the train control and management system market is the adoption of technological advancements by companies to maintain their competitive edge. These organizations are integrating new technologies into their systems
For instance, in September 2022, Huawei Technologies Co., Ltd., introduced the Future Railway Mobile Communication System (FRMCS) solution. Leveraging the innovative 8T8R Smart MIMO technology, this solution supports services such as locomotive status monitoring, train operation monitoring, and visual dispatch of organization and management (O&M) personnel. As a result, fault prediction accuracy and efficiency are enhanced.
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The global train control and management systems market is segmented as-
1) By Component: Vehicle Control Unit, Mobile Communication Gateway, Human Machine Interface
2) By Service: Consulting, System Integration And Deployment, Support And Maintenance
3) By Control Solution: Positive Train Control, Integrated Train Control
4) By Application: Metros, High-Speed Trains, Normal Trains
The train control and management systems market report offers a detailed assessment of the market, presenting an in-depth analysis of its growth prospects, key players, technological advancements, and regional dynamics. With its comprehensive insights, this report serves as a crucial tool for understanding the market landscape and making informed business decisions in the evolving railway industry.
Train Control And Management Systems Global Market Report 2023 by The Business Research Company provides insights on the train control and management systems market size, train control and management systems market segments, train control and management systems market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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