UK markets open in 5 hours 28 minutes
  • NIKKEI 225

    27,463.29
    -143.17 (-0.52%)
     
  • HANG SENG

    21,373.93
    +90.41 (+0.42%)
     
  • CRUDE OIL

    78.55
    +0.08 (+0.10%)
     
  • GOLD FUTURES

    1,891.20
    +0.50 (+0.03%)
     
  • DOW

    33,949.01
    -207.68 (-0.61%)
     
  • BTC-GBP

    18,980.12
    -404.54 (-2.09%)
     
  • CMC Crypto 200

    528.11
    -8.78 (-1.64%)
     
  • ^IXIC

    11,910.52
    -203.27 (-1.68%)
     
  • ^FTAS

    4,322.83
    +12.96 (+0.30%)
     

Digital Railway Global Market Report 2022: Ukraine-Russia War Impact

ReportLinker
ReportLinker

Major players in the digital railway market are Siemens AG, Cisco Systems Inc, Hitachi Ltd, Wabtec Corporation, Alstom SA, International Business Machines Corporation , ABB , Huawei Technologies Co. Ltd, Thales Group, Fujitsu Limited, DXC Technology, Indra , Nokia Corporation, Atkins , Toshiba Corporation, and Bombardier Inc.

New York, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Railway Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372074/?utm_source=GNW


The global digital railway market is expected to grow from $42.96 billion in 2021 to $48.36 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The digital railway market is expected to grow to $73.86 billion in 2026 at a CAGR of 11.2%.

The digital railway market consists of sales of digital railways and their related services by entities (organizations, sole traders, and partnerships) that are used to increase rail capacity and improve network performance. Network Rail’s concept for change in the rail industry by integrating the latest software solutions with the railway infrastructure to meet the increasing demand for passengers effectively and provide safer rail services.

The main services of the digital railway are managed services and professional services.Managed services refer to a way to offload general tasks to an expert to reduce costs, improve service quality, or free internal teams to do work that’s specific to their business.

The solutions are remote monitoring, route optimization and scheduling, analytics, network management, predictive maintenance, security, and other solutions (including digital railway, content management for infotainment, and preventive maintenance).The deployment models are on-premises and cloud-based.

The various applications involved rail operations management, passenger information systems, asset management, and other applications (other applications include connectivity and communication). 

Asia-Pacific was the largest region in the digital railway market in 2021. The regions covered in this digital railway market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The increase in government initiatives is expected to propel the growth of the digital railway market going forward.Government initiatives refer to an important act or statement that is intended to solve a problem.

Governments across various countries are investing in digitalizing and modernising railway operations, such as automating ticketing processing, customer service support, preparing maintenance schedules with self-learning algorithms, and managing railway traffic. For instance, in June 2022, according to the Government of the UK, a UK-based public sector information website announced a $1.18 billion investment to replace outdated Victorian infrastructure with cutting-edge digital signalling technology, which will result in fewer delays and more consistent service for millions of passengers. The funding will be used to remove outdated lineside signalling and replace it with the European Train Control System (ETCS), which brings signalling into train drivers’ cabs and offers them real-time, continuous information during their journey. It will reduce carbon emissions by 55,000 tons, which is the equivalent of more than 65,000 one-way flights from London to New York. Therefore, the increase in government initiatives is driving the growth of the digital railway market.

 Technological advancements are a key trend gaining popularity in the digital railway market. Major companies operating in the digital railway market are focused on developing new technological solutions to strengthen their position. For instance, in March 2021, Thales Group, a France-based company operating in digitalrailways,y launched CBTC (communications-based train control) and real-time passenger density systems. The company is also developing technology that allows trainsto trackg potential obstacles in partnership with Invision AI and Metrolinx.SelTracTM™ G8 is the eighth-generation CBTC systemwithd distributed intelligent video analytics, which would monitor passenger density in trains and on platforms, and is regarded as the "first-ever digital event that has been dedicated to rail transport with the smart mobilityexperience.". The benefits of this system include flexibility and evolution capabilities that rely on the latest technologies to significantly reduce installation and lifecycle costs while maintaining passenger safety.

In August 2021, Hitachi Rail Signaling and Transportation Systems (STS), a Japan-based global provider of rail solutions, acquired Thales’ Ground Transportation Systems (GTS) for a deal amount of $1.96 billion. This acquisition helps Hitachi Rail to expand the scale of its rail signalling systems business globally, bringing an enhanced turnkey railway offering to new markets around the world and enhancing the availability of its Mobility as a Service (MaaS) to a global clientele. Thales’ Ground Transportation Systems is a France-based company operating in digital rail.

The countries covered in the digital railway market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The digital railway market research report is one of a series of new reports that provides digital railway market statistics, including digital railway industry global market size, regional shares, competitors with a digital railway market share, detailed digital railway market segments, market trends and opportunities, and any further data you may need to thrive in the digital railway industry. This digital railway market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06372074/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001