- Increasing demand for improved efficiency across the rail industry is expected to fuel market growth.
- Rail traffic management involves signaling, traffic control, routing, and train schedules.
- The Railway Reservation Management System Market is expected to register a CAGR of 11.02%.
The global Railway Reservation Management System Market is mainly driven by the increasing preference of consumers for a cost-effective and swift mode of transportation. Increasing demand for improved efficiency across the rail industry is expected to fuel market growth. A railway management system helps to enhance railway efficiency without compromising on customer safety.
Further, the technology offers customers real-time information transfer and sharing capability, thereby enabling improved travel experience and planning. Technological advancements have led to increased adoption of automated technology for efficient management of railway networks and infrastructure. Rail operations management systems, rail traffic management systems, rail asset management systems, rail control management systems, and rail maintenance management systems are some of the major railway management solutions.
The Railway Reservation Management System Market is expected to register a CAGR of 11.02% during the review period, 2019–2025.
The Global Railway Reservation Management System Market is characterized by the presence of several regional and local providers. Some of the key players in the market are Alstom, Cisco, General Electric, ABB, IBM, Hitachi, Bombardier, Huawei, Indra Sistemas, Siemens, Ansaldo, ATOS, Toshiba, Tech Mahindra, Nokia Networks, Thales Group, DXC Technology, Eke-Electronics, Eurotech and Sierra Wireless among others.
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The Global Railway Reservation Management System Market has been segmented based on solution, service, and region.
By solution, the market has been segmented into rail operations management systems, rail traffic management systems, rail asset management systems, rail control systems, rail maintenance management systems, rail communication and networking systems, rail security, rail analytics, passenger information systems, and freight information systems. The rail traffic management systems are expected to hold the largest market share in the solution segment. Rail traffic management systems allow centralized supervision and traffic control of the entire rail network; the entire rail operations can be regularized from a central control system. This central administration system uses real-time data over high-speed communication links across trains and rail infrastructures to automate the traffic. Rail traffic management involves signaling, traffic control, routing, and train schedules.
By service, the market has been divided into consulting, system integration and deployment and support and maintenance. Under the service segment, the system integration and deployment segment is expected to have the largest market share. System integration and deployment services help identify the need for adaptation or timely upgrades to ensure the compatibility of smart railway software with the existing infrastructure. These services help reduce deployment time, save costs, enable efficient working, and minimize deployment-related disruptions.
By region, the global Railway Reservation Management System Market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. On the basis of region, APAC is expected to hold the largest market share during the forecast period. This is due to the rise in the adoption of new technologies and high investments in digital transformation. Also, the increasing GDP of APAC countries is expected to contribute to market growth.