Published on : Apr 19, 2016
ALBANY, New York, April 19, 2016: The study offers an in-depth overview of the cumulative spending on information technology (IT) in the global railways market. This research report provides an unbiased analysis of the overall IT spending in the global railways market on the basis of various factors such as driving forces, limitations, trends, and opportunities, and future prospects of this market. It also studies each of the market segment and the impact of their performance on the overall growth of this market.
The overall spending on IT in the global railways market is likely to rise at an impressive CAGR of 15.93% during the period from 2016 to 2020, states the research report. According to the study, the rising demand for analytics in railways across the world is likely to increase the IT spending in this market significantly over the forecast period.
Analytics plays an important role in the improving various operation of railways, thereby aiding in increasing the revenues by ensuring improved passenger services as well as customer satisfaction. Since railway operators utilize infrastructure testing, sensors, imaging frameworks, and other solutions to generate large volumes of data, the need for analytics is likely to increase as it helps authorities in making strategic decisions, states the report.
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The research report has analyzed the spending on IT in the global railways market on the basis of the category and the regional distribution of this market. Based on the category, this market has been classified into software, hardware, and services. The services segment is expected to lead the overall market during the forecast period. The increased spending on IT services such as project-oriented services, outsourcing, and support services in railways in the global arena is expected to propel this market segment, owing to which, this segment is projected to acquire a share more than 48% in the market by the end of the forecast period.
By the regional distribution, the report segments this global market into Asia Pacific, the Americas, and Europe and the Middle East and Africa. Analysts anticipate Europe and the Middle East and Africa to dominate the overall market over the forecast period.
The competitive landscape of this market has also been evaluated in this research study. As per the report, Accenture Plc, Altran Technologies SA, SAP SE, ALTEN SA, and IBM Corp. are the major IT companies that are leading the IT spending in the global railway market. Other prominent players in this market are Infosys, Tech Mahindra, Capgemini, Indra Sistemas, Cisco Systems, TCS, Hitachi, Huawei Technologies, Wipro, Siemens, Alcatel-Lucent, Ansaldo, Bombardier, CSC, ABB, GE Transportation, Alstom, and CGI Group.
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