Rising demand for secure, safer, and effective transport system and surge in allocation of budget for development of railways proliferate the growth of the global train control management system market
PORTLAND, Ore., July 6, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Train Control Management System Marketby Component (Vehicle Control Unit, Mobile Communication Gateway, Human Machine Interface, and Others), Solution (Communication-based Train Control, Positive Train Control, and Integrated Train Control), Network Type (Ethernet Consist Network (ECN), Multifunctional Vehicle Bus (MVB), and Wired Train Bus (WTB)), and Train Type (Metros & High Speed Trains, Electric Multiple Units, and Diesel Multiple Units): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global train control management system industry was estimated at $3.13 billion in 2019, and is anticipated to hit $5.09 billion by 2027, registering a CAGR of 8.7% from 2020 to 2027.
Growth in demand for secure, safer, and efficient transport system and increased allocation of budget for development of railways drive the growth of the global train control management system market. On the other hand, high capital requirement impedes the growth to some extent. However, improvements in railways infrastructure in developing countries are expected to pave the way for lucrative opportunities in the coming years.
COVID-19 Scenario on Train Control Management System Market-
Lockdown announced during the initial phase of covid-19 has impacted the overall production and sales of the train control management system.
In addition, public transports and mobility were completely shut down owing to the regulations issued by government bodies to curb the spread of coronavirus. This has majorly impacted the industry, globally.
Nevertheless, the government bodies have now lifted the restriction partially, thereby allowing a certain categories of passengers with limitations. In addition, various regions are now recovering, which would aid the industry in a positive way.
The vehicle control unit segment to dominate by 2027-
Based on component, the vehicle control unit segment accounted for nearly half of the global train control management system market share in 2019, and is expected to lead the trail by the end of 2027. This is due to its application in the field of crew human machine interface (HMIs) management, SIL & safety applications, fleet management, lighting management, battery charge monitoring, and other crucial application. At the same time, the human machine interface segment is anticipated to register the fastest CAGR of 10.3% throughout the forecast period.
The positive train control segment to maintain the dominant share-
Based on solution, the positive train control segment contributed to nearly two-thirds of the global train control management system market revenue in 2019, and is projected to dominate 2027. This is due to its ability to map train collisions over speed derailment and other potential dangerous situations. On the other hand, integrated train control segment would exhibit the fastest CAGR of 12.2% from 2020 to 2027. Advantages offered such as enhanced safety & throughput, and its robust & cost-effectiveness drive the growth of the segment.
Europe, followed by Asia-Pacific and North America, to rule the roost-
Based on region, Europe, followed by Asia-Pacific and North America, held the major share in 2019, generating around one-third of the global train control management system market, attributed to increase in use of public transport and demand for safe, secure, and efficient transportation. Simultaneously, the market across LAMEA would manifest the fastest CAGR of 11.3% by 2027. Focus of companies operating in the railway sector on development of semi-autonomous and fully autonomous railways is propelling the growth of the market in LAMEA.
Railway Signaling System Market by Type (CBTC, PTC and ATC), Application (Inside the Station and Outside the Station) and Technology (ATP, ATO, ETCS and PTO): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Railway Automated Inspection Equipment Market by Inspection Tools (Portable Track Loading Fixture (PTLF) and Digital Track Notebook 3.0 (DTN)), Inspection System (Track Geometry Measurement System (TGMS), Rail Profile Measurement System, Third-rail (Power Rail), Measurement System (TRMS) and Others) and Inspection Vehicles (Self-propelled Vehicle, Towed Coaches and Hi-rail Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Railway System Market by System Type (Auxiliary Power, HVAC, Propulsion, On board Vehicle Control, Train Information, and Train Safety), Rolling Stock Type (Locomotives, Metros, Monorails, Trams, Freight Wagons, Passenger Coaches, and Others) and End Use (Passenger Transit and Cargo Train): Global Opportunity Analysis and Industry Forecast, 2019–2026.
Railway Station Passenger Security Market by Investment type (New Demand, and Replacement), by Security Solution (Baggage Inspection Systems, Explosives Trace Detectors, Hand Held Scanners, Fire Safety & Detection System, Walk-through Metal Detectors, Full Body Scanners, Perimeter Intrusion Detection Systems, Video Surveillance Systems, Access Control/Boarding Systems, Bar-coded Boarding Systems, and Cybersecurity Solutions), by Application (Subways, and Trains): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Railway Centralized Traffic Control Market by Solution (Rail Operations Management System, Rail Traffic Management System, Rail Asset Management System, Rail Control System, Rail Maintenance Management System, Rail Communication and Networking System, Rail Security, Rail Analytics, Passenger Information System and Freight Information System) and Service (Consulting, System Integration & Deployment and Support & Maintenance): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.