Rail Asset Management Market by Solution (Condition Monitoring, Predictive Maintenance, Asset Planning & Scheduling, Analytics, Workforce Management & Security), Services, Application (Rolling Stock & Infrastructure), and Region - Global Forecast to 2024

Published by MarketsandMarkets on 14th November 2019 | Ref: 1463966 | This Product Is In Stock

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$5650 | Single User
$6650 | Multi User
$10000 | Enterprise License

Introduction

Growing need for efficient rail operations to drive the adoption of rail asset management market

The global rail asset management market size is projected to grow from USD 9.0 billion in 2019 to USD 12.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.4% from 2019 to 2024. The fast growth of rail infrastructure and rolling stock has given rise to an increased demand for efficient rail operations. Rail asset management solutions help in the timely monitoring and efficient scheduling of assets, which minimizes downtime. Condition-based and predictive maintenance work on real-time analytics helps reduces the dependence on manual diagnostics.

Services segment to grow a higher CAGR during the forecast period

Trains carry millions of tons of freight and tens of millions of passengers each year, and rail companies entirely rely on efficient and reliable asset operations and rail infrastructure to successfully meet the growing demand of enhanced rail operations. Information and Communication Technology (ICT) has played a major role in providing asset and operations management services for rail companies. To build a smarter railway system infrastructure, railway experts are demanding smart railway management system services.

Service providers help in implementing rail solutions. The benefits of employing railway management system services are improved rail operations performance, reduced complexities and operating expenses, standardized and improved rail infrastructure, improved engagement cash flow and profitability, maximized strategic value of rail solutions, simplified project planning and execution, streamlined project lifecycle, real-time decisions, security, and improved resource productivity.

The rolling stock segment to lead the rail asset management market in 2019

Rolling stock refers to powered and unpowered vehicles that move on rails. It also includes wheeled vehicles used for business on roadways (such as trams) and other light rail vehicles (LRVs). Rail transit offers the benefit of cost-effective and efficient transportation of passengers as well as freight.

Several countries are implementing new rail infrastructure projects to reduce road congestion and provide an affordable means of transportation at an intercity as well as intracity level. For instance, Germany has a goal to invest around USD 10.5 billion for railway infrastructure development. The plan further includes the improvement of 700 stations with a total investment of USD 1.4 billion. Increasing urbanization, growing demand for increased connectivity, and the comfort, reliability, and safety offered by rail transport have led to the development of rail transportation. Rolling stock plays a vital role in the infrastructure of a city or a country. Additionally, there is a rising demand for convenient, eco-friendly, and safe modes of transportation from commuters and governments.

APAC to grow at the highest CAGR during the forecast period

Asia Pacific (APAC) is estimated to be the fastest-growing region in terms of the growth of the rail asset management market, owing to the increase in the adoption of new technologies, higher investments for digital transformation, and the increasing Gross Domestic Product (GDP) in the APAC countries. A majority of the potential economies in this region include Australia, Singapore, China, Korea, Hong Kong, and India, which are said to be rapidly investing in technological transformation. According to data published on the website of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2019, the length of the Trans-Asian Railway network comprises 117,500 km of railway lines serving 28 member countries.

The high population growth rate in the region has intensified the need for transformation and expansion of the existing rail infrastructure. With untapped potential markets, the high penetration of advanced technologies, the growing freight usage in various industries, and the economic developments and government regulations are expected to drive the rail asset management market growth at the highest rate in APAC during the forecast period.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the rail asset management market.

• By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%

• By Designation: C-level – 38%, Directors – 30%, and Others – 32%

• By Region: North America – 40%, Europe – 15%, APAC – 35%, MEA – 5%, and Latin America– 5%

Major vendors in the rail asset management market include Siemens (Germany), IBM (US), Alstom (France), Hitachi (Japan), Wabtec (US), SAP (Germany), Trimble (US), Bentley Systems (US), Bombardier (Canada), Atkins (UK), Cisco (US), DXC Technology (US), Trapeze (Canada), Tego (US), Konux (Germany), L&T Technology Services Limited (India), Capgemini (France), Accenture (Ireland), Huawei Technologies (China), and Cyient (India). The study included an in-depth competitive analysis of these key players with their company profiles, recent developments, and key growth strategies adopted by them.

Research coverage

The market study covers the rail asset management market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on offerings, deployment mode, application, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report

The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall rail asset management market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the rail asset management market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

TABLE OF CONTENTS

1 INTRODUCTION 18

1.1 OBJECTIVES OF THE STUDY 18

1.2 MARKET DEFINITION 18

1.3 MARKET SCOPE 19

1.4 YEARS CONSIDERED FOR THE STUDY 20

1.5 CURRENCY CONSIDERED 20

1.6 STAKEHOLDERS 21

2 RESEARCH METHODOLOGY 22

2.1 RESEARCH DATA 22

2.2 MARKET BREAKUP AND DATA TRIANGULATION 24

2.3 MARKET SIZE ESTIMATION 25

2.4 MARKET FORECAST 28

2.5 COMPETITIVE LEADERSHIP MAPPING METHODOLOGY 29

2.6 ASSUMPTIONS FOR THE STUDY 30

3 EXECUTIVE SUMMARY 31

4 PREMIUM INSIGHTS 36

4.1 ATTRACTIVE OPPORTUNITIES IN THE RAIL ASSET MANAGEMENT MARKET 36

4.2 RAIL ASSET MANAGEMENT MARKET, BY OFFERING, 2019 36

4.3 RAIL ASSET MANAGEMENT MARKET, BY SOLUTION, 2017–2024 37

4.4 RAIL ASSET MANAGEMENT MARKET, BY SERVICE, 2019 VS. 2024 37

4.5 MARKET INVESTMENT SCENARIO 38

5 MARKET OVERVIEW AND INDUSTRY TRENDS 39

5.1 INTRODUCTION 39

5.2 MARKET DYNAMICS 39

5.3 INNOVATION SPOTLIGHT 43

6 RAIL ASSET MANAGEMENT MARKET, BY OFFERING 45

6.1 INTRODUCTION 46

6.2 SOLUTIONS 47

6.3 SERVICES 55

7 RAIL ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODE 60

7.1 INTRODUCTION 61

7.2 ON-PREMISES 62

7.3 CLOUD 63

8 RAIL ASSET MANAGEMENT MARKET, BY APPLICATION 64

8.1 INTRODUCTION 65

8.2 ROLLING STOCK 66

8.3 INFRASTRUCTURE 67

9 RAIL ASSET MANAGEMENT MARKET, BY REGION 68

9.1 INTRODUCTION 69

9.2 NORTH AMERICA 71

9.3 EUROPE 78

9.4 ASIA PACIFIC 86

9.5 MIDDLE EAST AND AFRICA 94

9.6 LATIN AMERICA 101

10 COMPETITIVE LANDSCAPE 109

10.1 OVERVIEW 109

10.2 COMPETITIVE LEADERSHIP MAPPING 109

11 COMPANY PROFILES 111

11.1 INTRODUCTION 111

(Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*

11.2 SIEMENS 111

11.3 IBM 115

11.4 ALSTOM 118

11.5 HITACHI 121

11.6 WABTEC 124

11.7 SAP 127

11.8 TRIMBLE 129

11.9 BENTLEY SYSTEMS 131

11.10 BOMBARDIER 132

11.11 ATKINS 134

11.12 CISCO 135

11.13 DXC TECHNOLOGY 136

11.14 TRAPEZE 137

11.15 TEGO 138

11.16 KONUX 138

11.17 L&T TECHNOLOGY SERVICES LIMITED 139

11.18 CAPGEMINI 140

11.19 ACCENTURE 141

11.20 HUAWEI TECHNOLOGIES 142

11.21 CYIENT 143

*Details on Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

12 APPENDIX 144

12.1 DISCUSSION GUIDE 144

12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 147

12.3 RELATED REPORTS 149

12.4 AUTHOR DETAILS 150

Additional Details

Publisher

MarketsandMarkets

Publisher Information

Reference

1463966 | TC 7440

Number of Pages

151

Report Format

PDF

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