SMART RAILWAYS
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Smart railways include features such as smart ticketing and freight information systems. Smart railways increase the efficiency of transport and decrease the operation costs by automating various functions . Major factors that are expected to drive the market growth includes increasing urbanized population , emergence of IoT technology and rising demand for the enhanced service quality.The global smart railways market was valued at USD 12.17 Billion in 2017 and expected to grow at a compounded annual growth rate (CAGR) of 20.8% during the forecast period from 2018 to 2027 and it is expected to reach USD 27.62Billion.