Intelligent Railway Transport System (IRTS) Market Outstanding Growth, Current Trends, Future Growth Study and Strategic Assessment | Impact of COVID-19

 Market Scenario:

Intelligent Railway Transport System (IRTS) is an emerging concept in various countries in field of railway industry. The intelligent railway transport system allows the organization to use several components of information technology for managing the services provided by the railways. Currently, the railway relies on the radio network and the GPS system for effective implementation of intelligent transport system but by the implementation of IRTS the operation of railway will become more efficient and will also help to reduce the time and cost. The market of intelligent railway transportation system is majorly driven by benefits offered such as high security for the passengers and high service quality. The market will also grow with as the new technologies are coming into picture and adoptions of internet of things technology is increasing in the railway system. The increasing trend of internet services is contributing in the growth of Intelligent Railway Transport System Market.

High dependency on the railway transportation has led to the discovery of IRTS which has proven to be the efficient system in terms of quality and cost. The ability of IRTS to regulate the road traffic near railway track signals is also one of the driving factor of the global market.

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Key Players

The prominent players in the market of Intelligent Railway Transport System market are – ABB Group (Switzerland), Indra Sistemas, S.A. (Spain), Alstom S.A. (Saint-Ouen), Alcatel-Lucent S.A. (France), Bombardier Inc.(Canada), Huawei Technologies Co. Ltd. (China), Hitachi, Ltd. (Japan), Cisco Systems, Inc. (U.S.), Siemens AG (Munich), International Business Machines Corporation (U.S.), General Electric Company (U.S.), Ansaldo Signalling and Transportation Systems (Itlay) and among others.

Segments:

Segmentation by Devices & Components: Rail Sensors, Video Surveillance Cameras, Smart Cards, Networking & Connectivity Devices (Router, Wi-Fi, Switches, etc.) and Others (Multimedia Displays)

Segmentation by Services: Professional Services, Cloud Services and Integration Services among others

Segmentation by Solutions: Passenger Information System (PIS), Railway Traffic Management System (RTMS), Advanced Security Management System, Smart Ticketing System (STS), Rail Operations Management System, Rail Communication & Networking Systems and Others (Rail Analytics System and Freight Information System)

Regional Analysis:

North America is dominating the market for Intelligent Railway Transport System (IRTS) due to heavy technological advancement and growing IT and semiconductor industry. The region is also home to some of the key players of Intelligent Railway Transport System (IRTS) system. High investment in the current railway industry by the government and by the key companies for new product development is also playing major role in the market growth. Europe stands as second largest market due to the presence of developed nations in the region and huge railway network. The government of several European countries is also working positively in order to upgrade the current rail network helping the market to grow. Asia-Pacific on the other hand has emerged as fastest growing market due to the growing economy of China and India. Also, rich presence of semiconductor and manufacturing companies in China, Japan, South Korea and Taiwan is also helping in the market growth.

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  • Software providers
  • Network providers
  • Government bodies
  • Research institutions
  • Technology investors
  • IT firms

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Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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