Railways Management System Industry 2021

 The global railway management system market size is expected to grow from USD 40.8 billion in 2020 to USD 61.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. High demographic growth and hyper-urbanization, increase in government initiatives and public-private partnerships, adoption of IoT and other automation technologies, and rise in congestion due to aging railway infrastructure are expected to be the major factors driving the growth of the railway management system market

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The COVID-19 pandemic significantly impacted rail operations in 2020, wherein rail services have been stalled for a quarter in many countries, and several other countries have resumed the rail operations with limited trains on track. While some of the countries have incurred severe losses, there are countries that have engaged in the total revamp of rail infrastructure and construction of new tracks and freight corridors during the imposed lockdown. The impact of COVID-19 has been severe on the market for 2020; however, the market is expected to bounce back in 2021. Remote-based monitoring and predictive maintenance technologies would be required as out-of-operations rolling stock would need proper maintenance.

Aging railway systems limit the efficiency of resources and compromise reliability in established rail markets. New markets adopt newer, more flexible technology infrastructures, leaping over the current practices. Several current IT systems are old and complex, making data sharing difficult. They are also unable to cope with the scale of growth predicted over the next few years. Frequent network failures and system outages can have a domino effect, significantly affecting customer satisfaction.