Smart Railways Market by Offering (Solutions (Rail Asset Management and Maintenance, Operation and Control, Communication and Networking, Security and Safety, Rail Analytics) and Services (Professional and Managed)) Region - Global Forecast to 2027

Abstract
MarketsandMarkets projects the smart railways market to grow from USD 28.9 billion in 2022 to USD 43.0 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. The requirement for urban connectivity is predicted to expand along with the integration of IoT-based solutions and the increased focus on emissions reduction, which will all contribute to the growth of the smart railway system.

Providing appropriate transit capacity for rising volumes of products and people necessitates the introduction of smart solutions. Truly integrated and intermodal transport systems are anticipated to be made possible by trends including machine-to-machine technology, using embedded sensors, increasing computing power, and incorporating Big Data and the Internet of Things.

By offering, the solutions segment to account for a higher market share during the forecast period

A pivotal role is played by solutions in handling all railway operations-related activities that include entry, marking, handling, processing, and transit of goods from the supplier end to the manufacturing site and eventually to the consumer. The growing need to improve efficiency, reduce emissions, and minimize costs and productivity is driving the growth of the solutions segment. The solutions autonomously support the technician and other personnel in reducing traffic congestion, efficiently signaling over traffic, and managing ticket collection and monitoring security systems leading to a higher degree of competence and reduced expenses.

By services, the professional service segment to hold the largest market size in 2022

Professional services offer support services to clients involved in technical projects. These services include consulting, system integration and deployment, training, support, and maintenance. Professional services are growing at a steady pace in the smart railway sector; with the rapid digitization and adoption rates of these cutting-edge technologies, to increase efficiency and reduce expenses, personnel operating these machineries require support from external technological experts. As the adoption of technology-based solutions is steadily growing, the demand for smart railways services will grow proportionally.

By region, Asia Pacific to grow at the highest CAGR during the forecast period

During the forecast period, Asia Pacific is estimated to be the fastest-growing region in terms of the growth of the smart railways market, with the growing adoption of upcoming and state-of-the-art technologies, larger investments in digitization, and the growth in the Gross Domestic Product of the APAC countries. In order to boost engagement in public-private partnership initiatives for the smart railway system, several Chinese banks have partnered together.

Japan is also attempting to incorporate smart solutions in upcoming projects and revamps, such as leveraging artificial intelligence to provide a customized concierge service for travelers. The high population growth rate in the region has also fueled the need to transform and expand the existing rail infrastructure.

Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from several prominent firms engaged in the smart railways market participated in in-depth interviews.

The breakup of the profiles of the primary participants is given below:
•By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
•By Designation: C-Level Executives– 33%, Director Level – 25%, and Managers–42%
•By Region: North America – 38%, Europe – 20%, APAC – 30%, and Rest of the World – 12%

The following smart railways market vendors are profiled in the report:
Alstom (France), Cisco (US), Wabtec (US), ABB (Switzerland), IBM (US), Hitachi (Japan), Huawei (China), Indra Sistemas (Spain), Siemens (Germany), Honeywell (US), Thales (France), Advantech (Taiwan), Fujitsu (Japan), Toshiba (Japan), Alcatel-Lucent Enterprise (France), Moxa (Taiwan), EKE-Electronics (Finland), Televic (Belgium), Uptake (US), Eurotech (Italy), Tego (US), KONUX (Germany), Aitek S.p.A (Italy), Assetic (Australia), Machines With Vision (UK), Delphisonic (US), Passio Technologies (US), Cloud MOYO (US), and Chemito (India).

Research Coverage
The smart railways market is segmented by offering (solutions and services) and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new services and product launches; partnerships, agreements, collaborations; business expansions; and competitive landscape associated with the smart railways market.

Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
•It comprehensively segments the smart railways market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
•It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
•It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes the competitor ecosystem, new service developments, partnerships, and acquisitions.

Content
Table of Contents

1INTRODUCTION39
1.1STUDY OBJECTIVES39
1.2MARKET DEFINITION39
1.2.1INCLUSIONS AND EXCLUSIONS40
1.3STUDY SCOPE41
1.3.1SMART RAILWAYS MARKET SEGMENTATION41
1.3.2GEOGRAPHIC SCOPE42
1.3.3YEARS CONSIDERED42
1.4CURRENCY CONSIDERED42
TABLE 1USD EXCHANGE RATES, 2019–202143
1.5STAKEHOLDERS43
1.6SUMMARY OF CHANGES43
2RESEARCH METHODOLOGY44
2.1RESEARCH DATA44
FIGURE 1SMART RAILWAYS MARKET: RESEARCH DESIGN44
2.1.1SECONDARY DATA45
2.1.2PRIMARY DATA45
TABLE 2PRIMARY INTERVIEWS46
2.1.2.1Breakdown of primaries46
2.1.2.2Key industry insights47
2.2MARKET BREAKDOWN AND DATA TRIANGULATION48
FIGURE 2DATA TRIANGULATION48
2.3MARKET SIZE ESTIMATION49
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY ̶ APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS AND SERVICES IN SMART RAILWAYS MARKET49
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY ̶ APPROACH 1 - BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF SOLUTIONS IN SMART RAILWAYS MARKET50
FIGURE 5MARKET SIZE ESTIMATION METHODOLOGY ─ APPROACH 2 (DEMAND SIDE): SMART RAILWAYS MARKET51
2.4FACTOR ANALYSIS52
TABLE 3FACTOR ANALYSIS52
2.5RESEARCH ASSUMPTIONS AND LIMITATIONS53
2.5.1LIMITATIONS54
3EXECUTIVE SUMMARY55
FIGURE 6RAILWAY MANAGEMENT SYSTEM EVOLUTION56
3.1SMART RAILWAYS MARKET: RECESSION IMPACT57
FIGURE 7SMART RAILWAYS MARKET TO WITNESS STEADY GROWTH DURING FORECAST PERIOD58
FIGURE 8SMART RAILWAYS MARKET SIZE, 2020–202758
FIGURE 9LARGEST SEGMENTS IN SMART RAILWAYS MARKET, 202259
FIGURE 10SMART RAILWAYS MARKET ANALYSIS60
FIGURE 11ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD61
4PREMIUM INSIGHTS62
4.1BRIEF OVERVIEW OF GLOBAL SMART RAILWAYS MARKET62
FIGURE 12NEED FOR EFFICIENCY IN RAIL OPERATIONS TO DRIVE MARKET GROWTH DURING FORECAST PERIOD62
4.2EUROPE: SMART RAILWAYS MARKET, 202263
FIGURE 13SOLUTIONS SEGMENT AND UK TO HOLD LARGEST MARKET SHARES IN EUROPE DURING FORECAST PERIOD63
4.3ASIA PACIFIC: SMART RAILWAYS MARKET, 202263
FIGURE 14SOLUTIONS SEGMENT AND CHINA TO HOLD LARGEST MARKET SHARES IN APAC DURING FORECAST PERIOD63
4.4SMART RAILWAYS MARKET, BY COUNTRY64
FIGURE 15INDIA AND JAPAN TO PROVIDE ATTRACTIVE OPPORTUNITIES FOR GROWTH DURING FORECAST PERIOD64
5MARKET OVERVIEW65
5.1INTRODUCTION65
5.2MARKET DYNAMICS65
FIGURE 16DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: SMART RAILWAYS MARKET65
5.2.1DRIVERS66
5.2.1.1Rise in need for efficiency in rail operations66
5.2.1.2Rapid urbanization results in increased need for efficient railway systems66
5.2.1.3Government initiatives and increased number of public-private partnership projects in rail industry67
5.2.1.4Adoption of IoT and other automation technologies for process optimization67
5.2.1.5Technological advancements targeted toward enhancement of customer experience68
5.2.2RESTRAINTS68
5.2.2.1High initial cost of deployment68
5.2.3OPPORTUNITIES68
5.2.3.1Increased globalization and need for advanced transportation infrastructure68
5.2.3.2Rise in demand for cloud-based services69
5.2.4CHALLENGES69
5.2.4.1Integration of advanced and complex systems with legacy infrastructure69
5.2.4.2Disruption in logistics and supply chain of IoT devices69
5.2.4.3Data security and privacy issues related to IoT devices70
5.2.5CUMULATIVE GROWTH ANALYSIS70
5.3PRICING ANALYSIS70
5.3.1PRICING MODELS AND INDICATIVE PRICE POINTS71
TABLE 4PRICING ANALYSIS71
5.4VALUE CHAIN ANALYSIS71
FIGURE 17SMART RAILWAYS MARKET: VALUE CHAIN ANALYSIS71
5.5ECOSYSTEM72
TABLE 5SMART RAILWAYS MARKET ECOSYSTEM72
5.6TECHNOLOGY ANALYSIS73
5.6.1INTERNET OF THINGS73
5.6.2BIG DATA ANALYTICS AND CLOUD COMPUTING74
5.6.35G NETWORK74
5.6.4DRONES74
5.6.5HYPERLOOP75
5.6.6AUTOMATIC WARNING SYSTEM75
5.7PATENT ANALYSIS75
FIGURE 18TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS76
TABLE 6TOP 20 PATENT OWNERS (US)76
FIGURE 19NUMBER OF PATENTS GRANTED YEARLY, 2011–202177
5.8KEY CONFERENCES AND EVENTS, 2022–202377
TABLE 7SMART RAILWAYS MARKET: DETAILED LIST OF CONFERENCES AND EVENTS77
5.9REGULATORY LANDSCAPE78
5.9.1ISO78
5.9.1.1ISO/IEC JTC 178
5.9.1.2ISO/IEC 2700179
5.9.1.3ISO/IEC 19770-179
5.9.1.4ISO/IEC JTC 1/SWG 579
5.9.1.5ISO/IEC JTC 1/SC 3179
5.9.1.6ISO/IEC JTC 1/SC 2779
5.9.1.7ISO/IEC JTC 1/WG 7 sensors79
5.9.2GDPR79
5.9.3FMCSA80
5.9.4FHWA80
5.9.5MARAD80
5.9.6FAA80
5.9.7FRA80
5.9.8IEEE-SA80
5.9.9CEN/ISO80
5.9.10CEN/CENELEC81
5.9.11ETSI81
5.9.12ITU-T81
5.10PORTER’S FIVE FORCES MODEL81
FIGURE 20PORTER’S FIVE FORCES ANALYSIS81
TABLE 8IMPACT OF EACH FORCE ON SMART RAILWAYS MARKET82
5.10.1THREAT OF NEW ENTRANTS82
5.10.2THREAT OF SUBSTITUTES82
5.10.3BARGAINING POWER OF BUYERS82
5.10.4BARGAINING POWER OF SUPPLIERS83
5.10.5INTENSITY OF COMPETITIVE RIVALRY83
5.11CASE STUDY ANALYSIS83
5.11.1CASE STUDY 1: LUXEMBOURG RAILWAYS EQUIPPED 34 NEW CORADIA TRAINS WITH ALSTOM’S AUTOMATIC TRAIN OPERATION SYSTEM83
5.11.2CASE STUDY 2: VTG RAIL EUROPE COLLABORATED WITH SIEMENS TO INNOVATE RAIL FREIGHT TRANSPORT84
5.11.3CASE STUDY 3: UPTAKE AUTOMATED MAINTENANCE WORK ORDER OF A NORTH AMERICAN FREIGHT RAILWAY COMPANY84
5.11.4CASE STUDY 4: THALES PROVIDED TRAIN-TO-GROUND BROADBAND DATA COMMUNICATION SOLUTION TO BRESCIA METRO85
5.11.5CASE STUDY 5: COMBOIOS DE PORTUGAL IMPLEMENTED SOLUTIONS BY FUJITSU TO INNOVATE ITS TICKETING INFRASTRUCTURE85
5.11.6CASE STUDY 6: SIEMENS PROVIDED MAINTENANCE SERVICES TO GOVIA THAMESLINK RAILWAY86
5.11.7CASE STUDY 7: ASSETIC HELPED SYDNEY TRAINS VISUALIZE RAIL ASSETS FOR OPTIMIZED ASSET MANAGEMENT86
6SMART RAILWAYS MARKET, BY OFFERING87
6.1INTRODUCTION88
FIGURE 21SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD88
TABLE 9SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)88
TABLE 10SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)88
6.2SMART RAILWAYS MARKET: RECESSION IMPACT89
6.3SOLUTIONS89
6.3.1SOLUTIONS: SMART RAILWAYS MARKET DRIVERS90
FIGURE 22RAIL ANALYTICS SYSTEM SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD90
TABLE 11SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)91
TABLE 12SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)91
TABLE 13SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)91
TABLE 14SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)92
6.3.2PASSENGER INFORMATION SYSTEM92
6.3.2.1Rising demand for real-time passenger information systems93
FIGURE 23MULTIMEDIA INFORMATION AND ENTERTAINMENT SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD93
TABLE 15PASSENGER INFORMATION SYSTEM: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)93
TABLE 16PASSENGER INFORMATION SYSTEM: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)93
TABLE 17PASSENGER INFORMATION SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)94
TABLE 18PASSENGER INFORMATION SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)94
6.3.2.2Multimedia information and entertainment94
TABLE 19MULTIMEDIA INFORMATION AND ENTERTAINMENT: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)95
TABLE 20MULTIMEDIA INFORMATION AND ENTERTAINMENT: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)95
6.3.2.3Network connectivity95
TABLE 21NETWORK CONNECTIVITY: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)96
TABLE 22NETWORK CONNECTIVITY: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)96
6.3.3FREIGHT MANAGEMENT SYSTEM96
6.3.3.1Rapid digitalization and adoption of advanced technologies97
FIGURE 24FREIGHT TRACKING SEGMENT TO GROW AT HIGHER CAGR FROM 2022 TO 202797
TABLE 23FREIGHT MANAGEMENT SYSTEM: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)97
TABLE 24FREIGHT MANAGEMENT SYSTEM: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)97
TABLE 25FREIGHT MANAGEMENT SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)98
TABLE 26FREIGHT MANAGEMENT SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)98
6.3.3.2Freight operation management98
TABLE 27FREIGHT OPERATION MANAGEMENT: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)99
TABLE 28FREIGHT OPERATION MANAGEMENT: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)99
6.3.3.3Freight tracking99
TABLE 29FREIGHT TRACKING: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)100
TABLE 30FREIGHT TRACKING: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)100
6.3.4SECURITY AND SAFETY SOLUTIONS100
6.3.4.1Use of AI and loT in railway security101
FIGURE 25VIDEO SURVEILLANCE AND ANALYTICS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD101
TABLE 31SECURITY AND SAFETY SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)101
TABLE 32SECURITY AND SAFETY SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)102
TABLE 33SECURITY AND SAFETY SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)102
TABLE 34SECURITY AND SAFETY SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)102
6.3.4.2Video surveillance and analytics103
TABLE 35VIDEO SURVEILLANCE AND ANALYTICS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)103
TABLE 36VIDEO SURVEILLANCE AND ANALYTICS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)104
6.3.4.3Intrusion detection104
TABLE 37INTRUSION DETECTION: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)104
TABLE 38INTRUSION DETECTION: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)105
6.3.4.4Access control105
TABLE 39ACCESS CONTROL: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)105
TABLE 40ACCESS CONTROL: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)106
6.3.4.5Fire alarm and voice evacuation106
TABLE 41FIRE ALARM AND VOICE EVACUATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)106
TABLE 42FIRE ALARM AND VOICE EVACUATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)107
6.3.4.6Other security and safety solutions107
TABLE 43OTHER SECURITY AND SAFETY SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)107
TABLE 44OTHER SECURITY AND SAFETY SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)108
6.3.5RAIL COMMUNICATION AND NETWORKING SYSTEM108
6.3.5.1Emerging requirements for IT and networking in railways108
FIGURE 26TRAIN-TO-TRAIN COMMUNICATION SEGMENT TO GROW AT HIGHER CAGR FROM 2022 TO 2027108
TABLE 45RAIL COMMUNICATION AND NETWORKING SYSTEM: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)109
TABLE 46RAIL COMMUNICATION AND NETWORKING SYSTEM: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)109
TABLE 47RAIL COMMUNICATION AND NETWORKING SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)109
TABLE 48RAIL COMMUNICATION AND NETWORKING SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)110
6.3.5.2Ground-to-train communication110
TABLE 49GROUND-TO-TRAIN COMMUNICATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)110
TABLE 50GROUND-TO-TRAIN COMMUNICATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)111
6.3.5.3Train-to-train communication111
TABLE 51TRAIN-TO-TRAIN COMMUNICATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)111
TABLE 52TRAIN-TO-TRAIN COMMUNICATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)112
6.3.6SMART TICKETING SYSTEM112
6.3.6.1Need for convenience112
TABLE 53SMART TICKETING SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)113
TABLE 54SMART TICKETING SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)113
6.3.7RAIL ANALYTICS SYSTEM113
6.3.7.1Rapid adoption of AI-powered solutions in various countries across globe114
TABLE 55RAIL ANALYTICS SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)114
TABLE 56RAIL ANALYTICS SYSTEM: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)114
6.3.8RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS115
6.3.8.1Increased use of sensors in rail asset maintenance115
FIGURE 27PREDICTIVE MAINTENANCE SEGMENT TO GROW AT HIGHEST CAGR FROM 2022 TO 2027115
TABLE 57RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)116
TABLE 58RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)116
TABLE 59RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)116
TABLE 60RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)117
6.3.8.2Asset planning and scheduling117
TABLE 61ASSET PLANNING AND SCHEDULING: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)117
TABLE 62ASSET PLANNING AND SCHEDULING: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)118
6.3.8.3Workforce management and optimization118
TABLE 63WORKFORCE MANAGEMENT AND OPTIMIZATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)118
TABLE 64WORKFORCE MANAGEMENT AND OPTIMIZATION: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)119
6.3.8.4Condition-based monitoring119
TABLE 65CONDITION-BASED MONITORING: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)119
TABLE 66CONDITION-BASED MONITORING: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)120
6.3.8.5Predictive maintenance120
TABLE 67PREDICTIVE MAINTENANCE: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)121
TABLE 68PREDICTIVE MAINTENANCE: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)121
6.3.8.6Other railway asset management and maintenance solutions121
TABLE 69OTHER RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)122
TABLE 70OTHER RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)122
6.3.9RAIL OPERATION AND CONTROL SOLUTIONS122
6.3.9.1Need to compete with other modes of transportation123
TABLE 71RAIL OPERATION AND CONTROL SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)123
TABLE 72RAIL OPERATION AND CONTROL SOLUTIONS: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)123
6.4SERVICES123
6.4.1SERVICES: SMART RAILWAYS MARKET DRIVERS124
FIGURE 28MANAGED SERVICES TO GROW AT HIGHER CAGR FROM 2022 TO 2027124
TABLE 73SERVICES: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)125
TABLE 74SERVICES: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)125
TABLE 75SERVICES: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)125
TABLE 76SERVICES: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)125
6.4.2PROFESSIONAL SERVICES126
6.4.2.1Fast digitalization in railway industry and growing need for personnel training126
FIGURE 29TRAINING, SUPPORT, AND MAINTENANCE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD126
TABLE 77PROFESSIONAL SERVICES: SMART RAILWAYS MARKET SIZE, BY TYPE, 2017–2021 (USD MILLION)127
TABLE 78PROFESSIONAL SERVICES: SMART RAILWAYS MARKET SIZE, BY TYPE, 2022–2027 (USD MILLION)127
TABLE 79PROFESSIONAL SERVICES: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)127
TABLE 80PROFESSIONAL SERVICES: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)128
6.4.2.2Consulting128
TABLE 81CONSULTING: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)128
TABLE 82CONSULTING: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)129
6.4.2.3System integration and deployment129
TABLE 83SYSTEM INTEGRATION AND DEPLOYMENT: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)129
TABLE 84SYSTEM INTEGRATION AND DEPLOYMENT: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)130
 
6.4.2.4Training, support, and maintenance130
TABLE 85TRAINING, SUPPORT, AND MAINTENANCE: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)130
TABLE 86TRAINING, SUPPORT, AND MAINTENANCE: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)131
6.4.3MANAGED SERVICES131
6.4.3.1Increased requirement for competent personnel for technical assistance131
TABLE 87MANAGED SERVICES: SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)131
TABLE 88MANAGED SERVICES: SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)132
7SMART RAILWAYS MARKET, BY REGION133
7.1INTRODUCTION134
FIGURE 30EUROPE TO BE LARGEST MARKET DURING FORECAST PERIOD134
FIGURE 31MARKET IN ASIA PACIFIC TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD135
TABLE 89SMART RAILWAYS MARKET SIZE, BY REGION, 2017–2021 (USD MILLION)135
TABLE 90SMART RAILWAYS MARKET SIZE, BY REGION, 2022–2027 (USD MILLION)135
7.2NORTH AMERICA136
7.2.1NORTH AMERICA: PESTLE ANALYSIS136
7.2.2NORTH AMERICA: MARKET DRIVERS137
7.2.3NORTH AMERICA: REGULATORY IMPLICATIONS138
7.2.4NORTH AMERICA: RECESSION IMPACT138
TABLE 91NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)138
TABLE 92NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)139
TABLE 93NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2017–2021 (USD MILLION)139
TABLE 94NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2022–2027 (USD MILLION)139
TABLE 95NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2017–2021 (USD MILLION)140
TABLE 96NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2022–2027 (USD MILLION)140
TABLE 97NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2017–2021 (USD MILLION)140
TABLE 98NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2022–2027 (USD MILLION)140
TABLE 99NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2017–2021 (USD MILLION)141
TABLE 100NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2022–2027 (USD MILLION)141
TABLE 101NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2017–2021 (USD MILLION)141
TABLE 102NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2022–2027 (USD MILLION)142
TABLE 103NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2017–2021 (USD MILLION)142
TABLE 104NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2022–2027 (USD MILLION)142
TABLE 105NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2017–2021 (USD MILLION)143
TABLE 106NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2022–2027 (USD MILLION)143
TABLE 107NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2017–2021 (USD MILLION)143
TABLE 108NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2022–2027 (USD MILLION)143
TABLE 109NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2017–2021 (USD MILLION)144
TABLE 110NORTH AMERICA: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2022–2027 (USD MILLION)144
7.2.5US144
7.2.5.1Government initiatives to drive market in US144
TABLE 111US: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)144
TABLE 112US: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)145
TABLE 113US: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2017–2021 (USD MILLION)145
TABLE 114US: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2022–2027 (USD MILLION)145
TABLE 115US: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2017–2021 (USD MILLION)146
TABLE 116US: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2022–2027 (USD MILLION)146
TABLE 117US: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2017–2021 (USD MILLION)146
TABLE 118US: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2022–2027 (USD MILLION)146
TABLE 119US: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2017–2021 (USD MILLION)147
TABLE 120US: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2022–2027 (USD MILLION)147
TABLE 121US: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2017–2021 (USD MILLION)147
TABLE 122US: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2022–2027 (USD MILLION)148
TABLE 123US: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2017–2021 (USD MILLION)148
TABLE 124US: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2022–2027 (USD MILLION)148
TABLE 125US: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2017–2021 (USD MILLION)149
TABLE 126US: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2022–2027 (USD MILLION)149
TABLE 127US: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2017–2021 (USD MILLION)149
TABLE 128US: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2022–2027 (USD MILLION)149
7.2.6CANADA150
7.2.6.1Increase in number of passengers and higher freight traffic to drive market in Canada150
7.3EUROPE150
7.3.1EUROPE: PESTLE ANALYSIS150
7.3.2EUROPE: MARKET DRIVERS152
7.3.3EUROPE: REGULATORY IMPLICATIONS152
7.3.4EUROPE: RECESSION IMPACT152
FIGURE 32EUROPE: MARKET SNAPSHOT153
TABLE 129EUROPE: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)153
TABLE 130EUROPE: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)154
TABLE 131EUROPE: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2017–2021 (USD MILLION)154
TABLE 132EUROPE: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2022–2027 (USD MILLION)154
TABLE 133EUROPE: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2017–2021 (USD MILLION)155
TABLE 134EUROPE: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2022–2027 (USD MILLION)155
TABLE 135EUROPE: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2017–2021 (USD MILLION)155
TABLE 136EUROPE: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2022–2027 (USD MILLION)155
TABLE 137EUROPE: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2017–2021 (USD MILLION)156
TABLE 138EUROPE: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2022–2027 (USD MILLION)156
TABLE 139EUROPE: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2017–2021 (USD MILLION)156
TABLE 140EUROPE: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2022–2027 (USD MILLION)157
TABLE 141EUROPE: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2017–2021 (USD MILLION)157
TABLE 142EUROPE: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2022–2027 (USD MILLION)157
TABLE 143EUROPE: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2017–2021 (USD MILLION)158
TABLE 144EUROPE: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2022–2027 (USD MILLION)158
TABLE 145EUROPE: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2017–2021 (USD MILLION)158
TABLE 146EUROPE: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2022–2027 (USD MILLION)158
TABLE 147EUROPE: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2017–2021 (USD MILLION)159
TABLE 148EUROPE: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2022–2027 (USD MILLION)159
7.3.5UK159
7.3.5.1Need to improve efficiency of existing railway infrastructure to boost market growth159
7.3.6GERMANY160
7.3.6.1Significant adoption of IoT technologies and analytics in railway sector to propel market160
7.3.7FRANCE160
7.3.7.1High investment by railway operators to drive market in France160
7.3.8REST OF EUROPE160
7.4ASIA PACIFIC161
7.4.1ASIA PACIFIC: PESTLE ANALYSIS161
7.4.2ASIA PACIFIC: MARKET DRIVERS162
7.4.3ASIA PACIFIC: REGULATORY IMPLICATIONS162
7.4.4ASIA PACIFIC: RECESSION IMPACT163
FIGURE 33ASIA PACIFIC: MARKET SNAPSHOT164
TABLE 149ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)164
TABLE 150ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)165
TABLE 151ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2017–2021 (USD MILLION)165
TABLE 152ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2022–2027 (USD MILLION)165
TABLE 153ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2017–2021 (USD MILLION)166
TABLE 154ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2022–2027 (USD MILLION)166
TABLE 155ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2017–2021 (USD MILLION)166
TABLE 156ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2022–2027 (USD MILLION)166
TABLE 157ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2017–2021 (USD MILLION)167
TABLE 158ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2022–2027 (USD MILLION)167
TABLE 159ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2017–2021 (USD MILLION)167
TABLE 160ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2022–2027 (USD MILLION)168
TABLE 161ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2017–2021 (USD MILLION)168
TABLE 162ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2022–2027 (USD MILLION)168
TABLE 163ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2017–2021 (USD MILLION)169
TABLE 164ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2022–2027 (USD MILLION)169
TABLE 165ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2017–2021 (USD MILLION)169
TABLE 166ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2022–2027 (USD MILLION)169
TABLE 167ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2017–2021 (USD MILLION)170
TABLE 168ASIA PACIFIC: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2022–2027 (USD MILLION)170
7.4.5CHINA170
7.4.5.1High government investments in railway infrastructure and rapid growth in railways to drive market170
7.4.6INDIA171
7.4.6.1Investments in smart city projects by government to spur market growth171
7.4.7JAPAN171
7.4.7.1Rise in adoption of railway technologies to boost market171
7.4.8REST OF ASIA PACIFIC171
7.5MIDDLE EAST & AFRICA172
7.5.1MIDDLE EAST & AFRICA: PESTLE ANALYSIS172
7.5.2MIDDLE EAST & AFRICA: MARKET DRIVERS173
7.5.3MIDDLE EAST & AFRICA: REGULATORY IMPLICATIONS173
7.5.4MIDDLE EAST AND AFRICA: RECESSION IMPACT173
TABLE 169MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)174
TABLE 170MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)174
TABLE 171MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2017–2021 (USD MILLION)174
TABLE 172MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2022–2027 (USD MILLION)175
TABLE 173MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2017–2021 (USD MILLION)175
TABLE 174MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2022–2027 (USD MILLION)175
TABLE 175MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2017–2021 (USD MILLION)176
TABLE 176MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2022–2027 (USD MILLION)176
TABLE 177MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2017–2021 (USD MILLION)176
TABLE 178MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2022–2027 (USD MILLION)177
TABLE 179MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2017–2021 (USD MILLION)177
TABLE 180MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2022–2027 (USD MILLION)177
TABLE 181MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2017–2021 (USD MILLION)178
TABLE 182MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY RAIL ASSET MANAGEMENT AND MAINTENANCE SOLUTIONS, 2022–2027 (USD MILLION)178
TABLE 183MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2017–2021 (USD MILLION)178
TABLE 184MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY SERVICES, 2022–2027 (USD MILLION)179
TABLE 185MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2017–2021 (USD MILLION)179
TABLE 186MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY PROFESSIONAL SERVICES, 2022–2027 (USD MILLION)179
TABLE 187MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY REGION,
2017–2021 (USD MILLION)179
TABLE 188MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY REGION,
2022–2027 (USD MILLION)180
TABLE 189AFRICA: SMART RAILWAYS MARKET SIZE, BY COUNTRY,
2017–2021 (USD MILLION)180
TABLE 190MIDDLE EAST: SMART RAILWAYS MARKET SIZE, BY COUNTRY,
2022–2027 (USD MILLION)180
TABLE 191MIDDLE EAST AND AFRICA: SMART RAILWAYS MARKET SIZE, BY COUNTRY, 2017–2021 (USD MILLION)181
TABLE 192AFRICA: SMART RAILWAYS MARKET SIZE, BY COUNTRY,
2022–2027 (USD MILLION)181
7.5.5NIGERIA181
7.5.5.1Government initiatives combined with increased cooperation with other countries to drive market181
7.5.6UAE182
7.5.6.1Technological advancements and growing economy to drive market182
7.5.7SOUTH AFRICA182
7.5.7.1Increased demand for transportation services to support regional trade requirements to propel market growth182
7.5.8REST OF THE MIDDLE EAST & AFRICA182
7.6LATIN AMERICA182
7.6.1LATIN AMERICA: PESTLE ANALYSIS183
7.6.2LATIN AMERICA: MARKET DRIVERS184
7.6.3LATIN AMERICA: REGULATORY IMPLICATIONS184
7.6.4LATIN AMERICA: RECESSION IMPACT184
TABLE 193LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2017–2021 (USD MILLION)185
TABLE 194LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY OFFERING, 2022–2027 (USD MILLION)185
TABLE 195LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2017–2021 (USD MILLION)185
TABLE 196LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY SOLUTIONS, 2022–2027 (USD MILLION)186
TABLE 197LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2017–2021 (USD MILLION)186
TABLE 198LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY PASSENGER INFORMATION SYSTEM, 2022–2027 (USD MILLION)186
TABLE 199LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2017–2021 (USD MILLION)187
TABLE 200LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY FREIGHT MANAGEMENT SYSTEM, 2022–2027 (USD MILLION)187
TABLE 201LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2017–2021 (USD MILLION)187
TABLE 202LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY SECURITY AND SAFETY SOLUTIONS, 2022–2027 (USD MILLION)188
TABLE 203LATIN AMERICA: SMART RAILWAYS MARKET SIZE, BY RAIL COMMUNICATION AND NETWORKING SYSTEM, 2017–2021 (USD