The global connected rail market size is expected to reach USD 143.76 billion by 2030 according to a new study by Polaris Market Research. The report “Connected Rail Market Share, Size, Trends, Industry Analysis Report, By Rolling Stock (Diesel Locomotive, Electric Locomotive, DMU, EMU, Light Rail/Tram Car, Subway/Metro Vehicle, Passenger Coach, Freight Wagon); By Service; By Safety & Signaling System; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Factors such as the rising passenger demand, increasing disposable incomes, and populations in developing and emerging nations, where cities are expanding at an exponential rate, are predicted to fuel high demand for more efficient, faster, and cleaner transportation. As a result, the demand for the industry is expected to grow over the forecast period.
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Furthermore, the primary drivers promoting the growth of the connected rail systems are the constant demand for safety and security in railways, commuter comfort, government initiatives, a rapidly growing economy, and technological development. The integration of the Internet of Things (IoT) in the system is further contributing to industry growth.
Based on rolling stock, the freight wagon segment is expected to lead the global market over the forecast period. Significant factors such as the availability of developed infrastructure, rising disposable income, and the growing need to provide real-time information to the parties who are booking the wagons are projected to drive the growth of the segment.
North America is projected to account for the largest market over the forecast period. The high demand for the industry in the region is attributed to the rising traveling demand from emerging economies such as India and China. Since the Asia Pacific witnessed a higher development in the Internet of Things (IoT) over the past few years, the growth of the market is likely to grow.
Market participants such as Sierra Wireless, ABB, Atos, Cisco, Hitachi, IBM, Nokia, Huawei, Robert Bosch GmbH, Scomi Group BHD, Siemens, Tech Mahindra, Toshiba, Trimble, and Wabtec Corporation are some of the key players operating in the global market.
For instance, in February 2022, Siemens Mobility announced to expand its U.S. manufacturing plant in order to meet future demand for the train infrastructure technologies required for the systems in response to the federal government’s recent investment in high-speed rail.
Polaris Market Research has segmented the Connected Rail market report on the basis of service, rolling stock, safety & signaling system, and region:
Connected Rail, Service Outlook (Revenue – USD Billion, 2018 – 2030)
- Passenger Mobility and Services
- Wi-Fi Devices
- On-Board Entertainment
- Passenger Information System
- Information Announcement System
- Display Systems
- Train Tracking & Monitoring Solutions
- Automated Fare Collection System
- IP Video Surveillance
- Predictive Maintenance
- Freight Management System
Connected Rail, Rolling Stock Outlook (Revenue – USD Billion, 2018 – 2030)
- Diesel Locomotive
- Electric Locomotive
- Light Rail/Tram Car
- Subway/Metro Vehicle
- Passenger Coach
- Freight Wagon
Connected Rail, Safety & Signaling System Outlook (Revenue – USD Billion, 2018 – 2030)
- Positive Train Control (PTC)
- Communication/Computer-based Train Control (CBTC)
- Automated/Integrated Train Control (ATC)
Connected Rail, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa