Intelligent Railway Transport System (IRTS) Market
Intelligent Railway Transport System (IRTS) is an emerging concept in various countries in field of railway industry. The intelligent railway transport system allows the organization to use several components of information technology for managing the services provided by the railways. Currently, the railway relies on the radio network and the GPS system for effective implementation of intelligent transport system but by the implementation of IRTS the operation of railway will become more efficient and will also helps to reduce the time and cost. The market of intelligent railway transportation system is majorly driven by benefits offered such as high security for the passengers and high service quality. The market will also grow with as the new technologies are coming into picture and adoptions of internet of things technology is increasing in the railway system. The increasing trend of internet services is contributing in the growth of intelligent railway transport system market.
High dependency on the railway transportation has led to the discovery of IRTS which has proven to be the efficient system in terms of quality and cost. The ability of IRTS to regulate the road traffic near railway track signals is also one of the driving factor of the global market.
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Intelligent Railway Transport System (IRTS) Global Market — Segmentation
Segmentation by Devices & Components: Rail Sensors, Video Surveillance Cameras, Smart Cards, Networking & Connectivity Devices (Router, Wi-Fi, Switches, etc.) and Others (Multimedia Displays)
Segmentation by Services: Professional Services, Cloud Services and Integration Services among others
Segmentation by Solutions: Passenger Information System (PIS), Railway Traffic Management System (RTMS), Advanced Security Management System, Smart Ticketing System (STS), Rail Operations Management System, Rail Communication & Networking Systems and Others (Rail Analytics System and Freight Information System)
Key Players:
ABB Group (Switzerland), Indra Sistemas, S.A. (Spain), Alstom S.A. (Saint-Ouen), Alcatel-Lucent S.A. (France), Bombardier Inc.(Canada), Huawei Technologies Co. Ltd. (China), Hitachi, Ltd. (Japan), Cisco Systems, Inc. (U.S.), Siemens AG (Munich), International Business Machines Corporation (U.S.), General Electric Company (U.S.), Ansaldo Signalling and Transportation Systems (Itlay) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Intelligent Railway Transport System (IRTS) market.
Intelligent Railway Transport System (IRTS) Global Market — Regional Analysis
North America is dominating the market for Intelligent Railway Transport System (IRTS) due to heavy technological advancement and growing IT and semiconductor industry. The region is also home to some of the key players of Intelligent Railway Transport System (IRTS) system. High investment in the current railway industry by the government and by the key companies for new product development is also playing major role in the market growth. Europe stands as second largest market due to the presence of developed nations in the region and huge railway network. The government of several European countries is also working positively in order to upgrade the current rail network helping the market to grow. Asia-Pacific on the other hand has emerged as fastest growing market due to the growing economy of China and India. Also, rich presence of semiconductor and manufacturing companies in China, Japan, South Korea and Taiwan is also helping in the market growth.
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Intelligent Railway Transport System (IRTS) MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Intelligent Railway Transport System (IRTS) Market.
The growth sectors of the Intelligent Railway Transport System (IRTS) Market are identified with precision for a better growth perspective.The global intelligent railway transport system market is expected to touch 90 billion by 2022.
The market is expected to expand at 26.6 % CAGR during the assessment period (2017-2022) owing to the growing adoption of IoT in the railway system.
Smart city initiatives like intelligent transport system are rapidly developing not only to promote better community service but also increase public safety.
Intelligent Railway Transport System is an emerging concept in several countries and enables the organization to use several components of IT for managing the services provided by the railways.Future Drivers and Constraints Impacting the MarketBenefits such as high service quality and high security for the passengers is mainly driving the intelligent railway transport system market globally.
The emerging technologies along with high adoption of IoT is also stimulating the market growth over the period.
The increased need of surveillance of passengers for their safety and for providing them with convenient transportation facilities is driving the market.
The users get benefit in terms of saving their time and availing cost effectiveness by implementation of this technology.The airways is adopting various tools as a part of intelligent airways system such as the display screens on the airports and in domestic & international airports for providing information about the next stop.
The implementation of intelligent airways transportation system helps in ensuring safe drive of airlines even in adverse climatic conditions and prevents airlines from accidents.
SceneWorks have tailored solutions for areas such as Police Crime Scene forensic documentation, Security, Critical Infrastructure and also Industrial Industries such as Rail, Nuclear, Oil and Gas, Utilities, Construction and other Visual Asset Management applications.April, 2017, Siemens is launching Digital Rail Services in the U.S., a new business that will use intelligent sensors and advanced software platforms to put intelligence behind billions of data points created on the country’s rail systems.
This insight will help rail operators across the U.S. improve their operations and create an “Internet of Trains” to bring infrastructure and vehicles into the digital era.
Powered by software tools, the Digital Service business will help rail operators reduce unplanned downtime, improve operational efficiency, enable improved business planning and performance, as well as generate energy and cost savings.
However, higher initial investments and complexities in integrating these systems with existing systems might stagnate the demand for the same.
What's Trending in Market:Improves Consumer Safety by Minimizing the Scheduling Mistakes and Introduction to Anti-Collision SystemIntroduction to IoT as Well as Artificially Intelligent Automation Technologies to Enhance OptimizationChallenges:Requires Skilled Workforce for Developing the Intelligent Railway SystemIntegration Complexities with the Existing SystemsRestraints:Higher Initial Investments in Establishing Intelligent Railway SystemSignificant Post Purchase Maintenance Required for Maintaining Intelligent Railway SystemMarket Growth Drivers:Intelligent Railway Systems Provide Simplified Routing and SchedulingMinimizes the Working Complexities Caused Due to Conventional Railway SystemsGlobal Intelligent Railway System Market Development Scenario by Players Ø Financials Information, Business Overview and Product Specification Matrix Ø Patent Analysis Briefing* [if applicable] Ø No.
of Patents Issuance by Year / by Players / By Issuing Office Ø Key Development – Product/Service Launch, Mergers & Acquisition, Joint Ventures Intelligent Railway System Market Competition Each company profiled in the research document is studied considering various factors such as product and its application portfolios, market share, growth potential, future plans, and development activity.
Most importantly, the report sheds light on important strategies that key and emerging players are taking to maintain their ranking in the Global Intelligent Railway System Market.
Yes, we can add or profile new company as per client need in the report, provided it is available in our coverage list as mentioned in answer to Question 1 and after feasibility run final confirmation will be provided by research team checking the constraints related to difficulty of survey.
2) Can we narrow the available business segments?
According to a new study published by Polaris Market Research the global intelligent transport system (ITS) market is anticipated to reach USD 73.9 billion by 2026.
The implementation of intelligent transport systems to reduce the road accidents and street mishaps is one of the major driver for this market.
The adoption for vehicle to vehicle and vehicle to infrastructure communication for helping in improvement of street security is presumed to gain pace throughout the forecast years.
One of the restrictions to the market are the interoperability issues between the vehicle and the control units, however successful communication can be accomplished just by developing an up embedded technology that gives real time notifications.
The ITS frameworks also help to reduce carbon dioxide density in the air and greenhouse fumes in densely populated territories through traffic administration and therefore helps in lowering exhaust gases.
Request a sample this report by clicking the link below:https://www.polarismarketresearch.com/industry-analysis/intelligent-transport-system-market The consistent development and improvement in the transportation system have turned into an essential need for advancement of street networking in the transportation frameworks.
