Automotive Global Smart Railways Market | Page 2

The global smart railways market is segmented into devices such as rail sensors,
video surveillance cameras, smart cards, networking & connecting devices and
other devices. Among these segments, rail sensors segment is expected to occupy
top position in overall smart railways market during the forecast period. The
market of rail sensors is expected to get bolstered from increasing fleet of
locomotives in railway sectors in the developed and developing countries. For
instance, government of India awarded a contract worth USD 3.5 Billion to
Alstom and General Electric Co. (GE) in 2015. Under this contract, Alstom and
GE are directed to supply 801 double section electric locomotives to Indian
Railways for the purpose of freight transport during 2018-2028.
Global smart railways market is expected to flourish at a significant CAGR of
23.0% during the forecast period. Moreover, the global smart railways market
was valued at 20.2 Billion in 2015. The global smart railways market is likely to
get escalated from some of the major factors including up-surged rail passenger
and freight traffic, expansion of rail infrastructure and formulation of favorable
government regulations regarding implementation of smart and safer
technologies in trains in coming 5-6 years.
The passenger information system segment by solutions is estimated to register a
significant CAGR during the forecast period. Moreover, the passenger car
segment is expected to account for the largest share of revenue across the globe.
Factors such as growth of global population and expansion of transport facilities
across the globe are triggering the demand for effective passenger information
system. Moreover, the future of passenger information system market is expected
to expand by rising inclination of most of the providers of PIS solutions such as
Siemens, GE Transportations, Cisco and TE Connectivity to invest on
incorporation of PIS systems in rails and buses.
Increasing Concerns for Passenger Safety and Security
Incidents of thefts, murders, terrorist attacks and other criminal activities inside
trains and at platforms have increased over past few years. This in-turn has
raised safety concerns among passengers and rail authorities. As a result,
emphasis is now being laid on enhancing the security of rail networks by
implementing smart and advanced security solutions including sensors, video
surveillance cameras and other solutions. Such efforts to integrate smart security
devices with railways are believed to garner the growth of global smart railways
in coming 5-6 years.
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