The overall Global Smart Railway System Market is expected to grow at a CAGR of 26.11 percent during the forecast period of 2013-2018.
London, 31 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on Global Smart Railway System Market 2014-2018. The report analyzes the diverse market trends and growth opportunities pertaining to the industry in the coming years.
A smart railway system comprises solutions, devices and components, and services that automate and optimize the usage of railway infrastructure to carry out advanced functions. It has several components such as passenger reservation and information systems, freight operations information systems, railway traffic management, operations and asset management, IP-based security monitoring, communications, ticketing, and railway analytics.
“Within the Railway industry, the need to increase customer satisfaction has become very important, which is helping the railways innovate their systems for speed and better reliability among their customers. This trend is expected to have a medium term impact on the growth of the market during the forecast period”, says Faisal Ghaus, Vice President of TechNavio Research.
Inclination Towards Cloud Hosting
Cloud hosting is a step up from the shared hosting infrastructure which helps railways and their customers in many ways such as rail reservations and train tracking on the go. The cloud computing solutions also increase IT management efficiency and improve security and work environments. These services help the railways to maintain train times and managing other activities without any hurdles. Countries such as the US, Europe, Germany, and India are using cloud computing to make their systems more efficient. Cloud computing is also used these days for supply chain management, to reduce traffic congestion, for planning, and for forecasting seat demand.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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