Published on : Jan 31, 2018
ALBANY, New York, Jan 31, 2018: The development of railway networks across the globe has necessitated to have a sound railway management system. On account of the increasing railway traffic across the world, the global market for railway signaling is expected to witness commendable growth in the coming years. The connectivity of cosmopolitan cities to towns and suburbs largely relies on an efficient railway network. The success of the railway network in turn depends upon adequate infrastructure that could support the ever-expanding railway industry across several regions. A report by ResearchMoz titled, “Global Railway Signaling Market Research Report 2017” throws light on the important dynamics that contribute to the growth of the market. Since railway signaling is a niche domain within the vast pool of infrastructure employed in the railway industry, the report has taken an intricate approach to analyze the market. A number of insights regarding the success rate of the market have been included in the report. Furthermore, the researchers have made concerted efforts to estimate key parameters such as market value, growth rate, and market share over the coming years. The report serves as a compass for the market players to understand the inclinations of the market.
The railways industry across various regional pockets has witnessed an uprising towards infrastructural modifications. This owes to the demand for better railways facilities from an increasing pool of customers, which in turn propels the market for railway signaling. A handsome railway infrastructure is key indicator to gauge the performance of national and regional governments. Hence, governments across the world are making efforts to consolidate its railways infrastructure, which is expected to propel the demand for railways signaling devices. The report has elaborated on the efforts taken by various regional governments to enhance its railway management system.
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This gives a purview of regional factors that the market for railways signaling thrives on. Internet of Things (IoT) has now emerged as a prudent part of various industries, making it easier to track processes or movements. Since the railways industry is majorly reliant on swift transmission of information regarding the motion and position of trains, IoT has substantially contributed to the growth of the market. Moreover, the growing population has made it imperative for the railway industry to expand its network. This has also escalated the demand within the global railway signaling market.
Urbanization is an important factor that contributes to the overall infrastructural growth of an economy. This growth trickles down to the various industries including railways. Owing to the aforementioned factor, it is safe to estimate that hyper-urbanization would inorganically contribute to the growth of the market for railways signaling.
The market for railway signaling can be segmented into the following regions: North America, Europe, China, Japan, Southeast Asia, and India. Owing to technological advancements and a high level of acceptance towards IoT, the market in Europe is expected to witness rapid growth. The European Railway Traffic Management System (ERTMS) is also an important contributor to the growth of the regional market. It is evident that the world is getting increasingly connected with the passage of time, which shall be a window to development for all the regional markets.
The report encapsulates the competitive landscape of the market and enunciates various business strategies that the market players are expected to adopt in the coming years. The established market players are ALSTOM, Bombardier, CAF, CG, Siemens AG, PINTSCH BAMAG GMBH, MERMEC, Belden Inc, and Thales Group.
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