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Surge in number of passenger over the past few years is a significant factor driving global digital railway market revenue growth
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Digital Railway Market Size Worth USD 133.64 Billion 2030 www.emergenresearch.com Surge in number of passenger over the past few years is a significant factor driving global digital railway market revenue growth
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Market Summary The global digital railway market size is expected to reach USD 133.64 Billion at a steady revenue CAGR of 9.7% in 2030, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as advancements in communication technology, rising demand for enhanced connectivity, rising urbanization, and increasing need for safe, eco-friendly, and convenient commutation. Digital railway refers to digitalization and transformation of technologies, which helps to modernize railway operations, automating ticketing processing, customer support service, and preparing maintenance schedule along with managing railway traffic. By identifying track imperfections, remotely monitoring rails, digitizing and automating maintenance, and improving fundamental procedures, such as welding and grinding, technology can make train operations safer. Impact of accidents can be lessened through improvements in signaling and transmission, rolling stock crash safety, and supervision of human operations. Through improved communication, signaling and telecommunication can improve train control. In addition, track monitoring systems can be used to physically inspect rails or use test trains that are specifically intended to detect track anomalies. www.emergenresearch.com
Market Summary • Some Key Highlights From the Report • On 20 April 2022, Trimble's Beena Vision business, entered into a formal agreement to be acquired by Wabtec Corporation, a leading global supplier for freight and transit rail. This acquisition is subject to usual closing requirements and deal's financial details were not made public. • The remote monitoring segment is expected to lead in terms of revenue share in the global market over the forecast period. Use of remote monitoring technologies has a number of advantages. By centrally monitoring their complete train network, one will be able to make informed decisions. They will be able to decide whether it is genuinely necessary to send a vehicle on a 4-hour journey to their remote radio tower and what kind of repair equipment they will need to bring. They can save money by reducing time spent by their personnel and also helps to avoid unsafe operations, communication breakdowns, and expensive asset damage. • The professional services segment is expected to account for large revenue share over the forecast period. This is due to better reliability, guaranteed availability, optimal throughput, or increased lifetime cost effectiveness with the use of digital services from mobility rail services. • Request Free Sample Copy@ https://www.emergenresearch.com/request-sample/1436 www.emergenresearch.com
Market Summary • For the purpose of this report, Emergen Research has segmented global the railway market based on solution, services, application, and region: • Solution Outlook (Revenue, USD Million; 2019–2030) • Remote Monitoring • Route Optimization & Scheduling • Analytics • Network Management • Predictive Maintenance • Security • Other Solutions • Services Outlook (Revenue, USD Million; 2019–2030) • Professional Services • Consulting • System Integration & Deployment • Support & Maintenance • Managed Services • Read More@ https://www.emergenresearch.com/industry-report/digital-railway-market
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