Global Connected Rail Market
Global Connected rail market was valued at US$ 21361.7 Mn and it is expected to reach at US$ 37832.4 Mn by 2027, growing at a CAGR of 7.9 % over the forecast period. Global Connected rail market is expected to create incremental opportunity of US$ 13870.6 Mn during 2020-2027.
The growth of connected rail is attributed to increasing population, growth in urbanization, rising concerns of safety and security among passengers, the offering of fast, efficient and hassle-free services, formulation of obligatory government regulations for incorporation of smart features in the railway industry & novelty in rail technology across the world. It offers an end-to-end Solution design for service delivery to a rail infrastructure, such as connectivity onboard the train, at the trackside, & in the stations and maintenance yards.
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Increase in demand of ease of operation in railway
The connected rail solution is helpful to monetize high bandwidth Internet on a moving train where data & transactions are facilitated through a Wi-Fi platform. It has various benefits, including authorizing customers to work while travelling can be seen as a powerful tool to increase passenger rates & consumer satisfaction. The increase in percentage of train lines, particularly those which operate along passenger routes, offer Wi-Fi connectivity free of cost in order to draw customers and keep existing ones happy, owing to the various services provided by connected trains like passenger mobility, passenger information system, automated fare collections systems, 24*7 CCTV camera surveillance, predictive maintenance etc.
Connected rail solutions provide greater reliability and safety. With recent advancements in maintenance, improving reliability of even the oldest trains is possible. Connected Trains have become device-laden, with sensors on critical parts like wheels, brakes, & engines. Tracks are also benefitting from Internet of Things (IoT); some train networks have thousands of sensors deployed across their systems, measuring track stress & condition, air and track temperatures and others that have predictive value to maintenance teams. Due to these benefits the demand of connected train is increased. The impact of this driver is very high over the forecast period.
Data security and privacy concerns
As the IoT becomes more widespread, enterprises demand better security and privacy protections that do not leave them vulnerable to corporate surveillance and data breaches. With the rise in the number of Internet of Things (IoT)-enabled systems in railway, a number of security & privacy issues will arise and every endpoint, sensor, gateway, and smartphone will become a potential target for hackers. IoT devices measure variables including pressure, speed, consumption, & temperature and actuators control physical systems, such as valves, lights, brakes, power circuits, or automated drug dispensers.
Privacy protection largely on individual users to understand & configure security settings. This requires a high level of IT security competence & is therefore likely to fail more often. Addressing this issue would greatly enhance the public acceptance of IoT (Internet of things) consumer products.
This factor hampers the demand for connected rail solutions over the forecast. The impact of this resistant is high.
To offer connected car solution with advanced technologies
The companies operating in the connected rail market are focusing to offer solution with advanced technologies such as Artificial intelligence, machine learning, big data and among others
In September 2020, Vehant Technologies, provider of Artificial Intelligence-based Physical Security, Surveillance and Traffic Monitoring & Junction Enforcement Solutions based in India, has developed FebriEye human body screening facility which is a thermal & vision camera measure forehead temperature & detects face mask as well as social distancing violations.
During COVID-19, it is very essential to detect passengers with coronavirus-like symptoms. To achieve this, Central Railway (CR), located in Mumbai, India has stated to use AI based Camera. The camera is able to scan the passengers for COVID-like symptoms, effectively. AI-based cameras can detect rail travelers with fever, without masks.
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Global Connected Rail Market Analysis by Region
North America Connected rail market was valued at US$ 7320.6 Mn and it is expected to reach at US$ 10638.8 Mn by 2027, growing at a CAGR of 5.1 % over the forecast period, North America Connected rail market is expected to create incremental opportunity of US$ 2751.8 Mn during 2020-2027
Continuous advancement in technology is one of the prominent factors driving the growth of the market. Ongoing technological advancements are improving the efficiency of the railways, which, in turn, enhance the value of the railways. At present, an obsolete infrastructure and railway tracks are some of the limitations which hamper the growth of the target market.
Asia-Pacific (APAC) is estimated to be the fastest-growing region in terms of the growth of the connected rail market, due to a rise in the adoption of new technologies, higher investments for digital transformation, & the growth in GDP (Gross Domestic Product) of the Asia Pacific countries.
Market key Players
Various key players are discussed in this report such as Hitachi Limited, Calamp Corp., Tech Mahindra Limited, Sierra Wireless, Atos Corporation, IBM Corporation, Cisco Systems, Inc., Nokia Corporation, Robert Bosch GmbH, Siemens AG, etc.
By Rolling stock
By Safety & Signaling System
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