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Subject: MRR

Connected Rail Market to Reach $143.8 Billion, Globally, by 2031 at 5.4% CAGR: Allied Market Research


Increase in integration of the internet of things (IoT) in the railway industry, rise in demand for safety and compliance in rail transit, freight, and passenger capacity drive the global connected rail market.

PORTLAND, Ore., July 7, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Connected Rail Market By Service (Passenger Information System, Train Tracking and Monitoring, Automated Fare Collection System, Passenger Mobility, Predictive Maintenance), By Rolling Stock (Freight Wagons, Passenger Wagons, Diesel Locomotive, Electric Locomotive, Light Rail and Trams), By Safety and Signaling System (Positive Train Control, Communication Based Train Control, Automated Train Control): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global connected rail industry was accounted for $86.8 billion in 2021, and is expected to reach $143.8 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

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Drivers, restraints, and opportunities

Rise in integration of the internet of things (IoT) in the railway industry, surge in demand for safety and compliance in rail transit, freight, and passenger capacity have boosted the growth of the global connected rail market. However, dearth of technological infrastructure and consistency in developing countries and infrastructure changes in current systems hinder the market growth. On the contrary, technological innovations in autonomous rail & green transportation and surge in reliance on computing systems would open new opportunities in the future.

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The passenger information system segment held the lion's share

By service, the passenger information system segment held the largest share in 2021, accounting for around two-fifths of the global connected rail market, due to the higher demand for automated control of critical messaging for railway applications. However, the predictive maintenance segment is expected to register the highest CAGR of 6.6% during the forecast period, owing to growing demand for condition-based maintenance in real time.

The electric locomotive segment to manifest the highest CAGR through 2031

By rolling stock, the electric locomotive segment would showcase the highest CAGR of 7.2% from 2022 to 2031, owing to increase in awareness regarding environmental pollution, high efficiency, quiet operation compared to diesel variants. However, the freight wagons segment held the largest share in 2021, contributing to more than two-fifths of the global connected rail market, due to rise in investments in railway infrastructure for rail freight services.

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Europe to dominate the market

By region, the market across Europe held the largest share in 2021, accounting for nearly one-third of the global connected rail market, due to advancements in the railway infrastructure and penetration of digital solutions in the European railway sector. However, the market across LAMEA is expected to register the highest CAGR of 7.2% during the forecast period, due to the optimistic scenario of railway sector in the region.

Major market players

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Similar Reports We Have on Rail Industry:

Smart Railway Market by System (Passenger Information System, Rail & Freight Operations Management System, Smart Safety & Security Monitoring System, Rail communication & Networking System, Smart Ticketing System, Rail Analytics System, and Others) and Offering Type (Solutions, Components & Devices, and Services): Global Opportunity Analysis and Industry Forecast, 2020?2030.

Rail and Metro Cyber Security Market by Types (Infrastructural and On-board), Security Type (Network Security, Application Security, Data Protection, End Point Protection and System Administration) and Component (Solutions and Service): Global Opportunity Analysis and Industry Forecast, 2020?2030.

Urban Rail Transit Market by Rail Type (Metro/Subway, Monorail, Suburban, Light Rail, Rapid Transit, Commuter Rail, Funicular, Cable Car, Guided Bus, Automated Guideway Transit, and Tram), Autonomy (Manual, Semi-Autonomous, and Fully Autonomous), and Autonomy Level (GoA-0, GoA-1, GoA-2, GoA-3, GoA-4): Global Opportunity Analysis and Industry Forecast, 2021?2030.

Rolling Stock Market by Type (Locomotive {Diesel Locomotives, Electric Locomotives, Electro-Diesel Locomotives and Others}, Metro, Monorail, Trams, Freight Wagon, Passenger Coaches, and Others), and End-Use (Passenger Transit and Cargo Train): Global Opportunity Analysis and Industry Forecast, 2022?2031.

Rail Infrastructure Market by Infrastructure (Rail Network, New Track Investment, and Maintenance Investment), Type (Locomotive, Rapid Transit Vehicle, and Railcar), and Ownership (Private Rail Road and Public Rail Road) - Global Opportunity and Forecast 2019?2030.

Railway Telematics Market by Solution (Fleet Management, Collision Detection & Prevention, Railway Tracking & Tracing and Others), Mode of Operation (Semi-Autonomous and Fully Autonomous), and Train Type (Passenger Train and Freight Train): Global Opportunity Analysis and Industry Forecast, 2021?2030.

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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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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.

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