According to a new report, published by KBV research, The Global Rail Asset Management Market size is expected to reach $13.9 billion by 2027, rising at a market growth of 5.9% CAGR during the forecast period.
The Solution segment is leading the Global Rail Asset Management Market by Component 2020, thereby, achieving a market value of $10.1 billion by 2027. Asset performance management, asset planning and scheduling, analytics, security, network management, workforce management, and others are the sub segments of the rail asset management market's solutions segment. Rail firms can optimize the whole asset lifecycle of both rolling stock and rail infrastructure by incorporating various asset management solutions. To acquire a better understanding of rail assets, APM combines data from finance databases and operational control systems. This solution delivers correct data to all stakeholders at the right moment, allowing them to make quick decisions to improve plant efficiency.
The Cloud segment has high growth rate of 7.4% during (2021 - 2027). Railway firms can save money on storage, software, hardware, and technical staff by using cloud solutions. Cloud-based systems provide a unified approach to securing corporate applications in the type of SaaS-based security services. These platforms are advantageous for organizations that are limited in their investment budgets. The railway industry is adopting cloud deployment because cloud-based asset management solutions are simple to maintain and upgrade.
The Infrastructure market is showcasing a CAGR of 7% during (2021 - 2027). Railway infrastructure consists of a variety of systems such as earthworks, timber, bridges, steelwork, tunnels, and track systems that serve as the foundation for the railway. The asset management system helps these systems run more efficiently and safely. Route plans that include actions, resources, and deadlines for infrastructure interventions, thorough plans to optimize the delivery of renewals, maintenance, and augmentation are among the activities in infrastructure asset management. Many rail companies are making large investments in rail infrastructure.
The Europe is fastest growing region in the Global Rail Asset Management Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.6 billion by 2027. The North America market is estimated to witness a CAGR of 5.7% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 5.9% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/rail-asset-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ALSTOM Holdings, Siemens AG, IBM Corporation, Hitachi, Ltd. (Hitachi ID Systems, Inc.), SAP SE, Cisco Systems, Inc., Capgemini SE, Accenture PLC, Wabtec Corporation, and Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
By Component
By Deployment Type
By Application
By Geography
Companies Profiled
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