According to a
research report "Rail Asset Management Market by Offering (Solutions (Condition
Monitoring, Predictive Maintenance, Security, Asset Planning & Scheduling)
and Services), Application (Rolling Stock and Infrastructure), Deployment Mode,
and Region - Global Forecast to 2025", published by
MarketsandMarkets™, the Rail Asset Management Market size to grow from USD 9.4 billion in 2020 to USD 12.6 billion by 2025,
at a Compound Annual Growth Rate (CAGR) of 5.9% forecast period. Rail asset
management solutions have spurred tremendous growth opportunities for
technology vendors and various associated service providers.
With the growing
number of government initiatives toward the development of smart
transportation, rail asset management vendors taking center stage, technology
providers, and consultants have aggressively started simulating innovative
solutions based on conceptual modules for the designing and development of rail
infrastructure.
Browse and in-depth TOC on “Rail Asset Management Market”
253 - Tables
51 - Figures
249 – Pages
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Factors contributing to the high growth rate in these
regions are the increasing need for efficient rail operations, rising PPP model
and government initiatives, growing population and hyper-urbanization, and
increasing congestion due to aging railway infrastructure. These factors are
also expected to shape the future of the global Rail Asset Management Market. However, the market also faces
several challenges, including the high initial cost of deployment and
integration complexities with the legacy infrastructure.
The solutions segment to
hold a larger market size during the forecast period
Based on offering, the
solutions segment of the Rail Asset
Management Market is projected to hold a larger market size during the
forecast period. The solutions segment in the Rail Asset Management Market is further segmented into asset
performance management, analytics, asset planning and scheduling, security,
workforce management, network management, and others (incident management,
warranty management, and material management). The incorporation of various
asset management solutions for the railway industry enables rail organizations
to improve the complete asset lifecycle of both rolling stock and rail
infrastructure.
By application,
the infrastructure segment to record a higher growth rate during the forecast
period
Railway infrastructure
includes various systems, such as earthworks, bridges, tunnels, steelwork,
timber, and track systems that form the base upon which the railway runs. The
asset management system can enhance the efficiency and safety of these systems.
Asset management comprises all systems, procedures, and tools that maximize
asset availability for a minimum whole-life cost and risk, some of the
activities in infrastructure asset management include route plans that involve
activities, resources, and timescales for interventions on the infrastructure,
detailed plans to optimize the delivery of renewals maintenance, and
enhancement. Many rail operators are investing significantly in the rail
infrastructure.
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Asia Pacific to record the highest growth during the forecast period
The APAC Rail Asset Management Market is
estimated to have strong growth in the future. The APAC region is witnessing
high growth due to the increasing adoption of new technologies, the rising
investments for digital transformation, and the growing GDP in APAC countries.
A majority of potential economies in the region include Australia, Singapore,
China, Korea, Hong Kong, and India, which are said to be rapidly investing in
the rail technological transformation.
Market Players
Major vendors in the Rail
Asset Management Market include Siemens (Germany), Hitachi (Japan), Alstom
(France), IBM (US), Wabtec (US), SAP (Germany), Capgemini (France), Cisco (US),
Huawei (China), Accenture (Ireland), Trimble (US), Bentley Systems (US),
Atkins (UK), DXC Technology (US), Trapeze Group (Canada), WSP (Canada), Tego
(US), KONUX (Germany), L&T Technology Services (India), Cyient (India),
Assetic (Australia), Machines With Vision (UK), Uptake (US), Delphisonic (US),
ZEDAS (Germany), and OXplus (Netherlands).
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Content
Source: https://www.marketsandmarkets.com/PressReleases/rail-asset-management.asp
Report: https://www.marketsandmarkets.com/Market-Reports/rail-asset-management-market-222416351.html
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