According to the latest report published by Credence Research, Inc. “Train Control and Management Systems (TCMS) Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global train control and management systems market was valued at US$ 2.23 Bn in 2016, and is expected to reach US$ 4.44 Bn by 2025, expanding at a CAGR of 7.8% from 2017 to 2025.
Browse the full report Train Control and Management Systems Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report at https://www.credenceresearch.com/report/train-control-and-management-systems-market
The global train control and management systems market is majorly governed by increasing demand for faster yet safe transport and transit systems. Rising population, growing urbanization, rising need for rapid commutation systems and consequent gradual up-gradation of transport systems significantly contribute to high demand for train control and management systems worldwide. Rising number of inter-state and inter-city fast-route railways further confirms the need for better control systems affirming to the defined safety standards. As TCMS assist in forming centralized control over various train and railway functions, it is likely that large-scale deployment of TCMS will be witnessed through the coming years. However, risk of failure to attain positive control systems and resultant risk of critical accidents may hold back the growth of this market.
Based on solution types, positive train control systems, communication-based control systems and integrated train control systems are the TCM systems used in railway transit management. Among these solution types, communication-based systems occupy the largest revenue share in the global market. It is anticipated that these systems will maintain their dominance in the market through the forecast period on the ground of their safety efficiency, better interoperability and less maintenance costs. On the other hand, positive control systems are observed to be the most popular solution type majorly attributed by better safety features across all operation aspects.
Based on geographical distribution, the global train control and management systems market is majorly dominated by Europe. Wide presence of automated train control systems in the region and continuous proliferation of the same in Eastern Europe significantly contribute to the ascendency of European market. Asia Pacific due to its huge geographical area and growing urbanization is observed to be the most lucrative regional market presenting investment opportunities.