North American Smart Railways (ICT) Market Worth $10.96 Billion by 2018 - New Report by MicroMarket Monitor
(PRWEB) July 10, 2014 -- The global economy and population have rapidly increased in the past decade. The transportation infrastructure has aged and has proved to be insufficient to cater to the increasing passenger and freight traffic. Communication technology has advanced and offers high-speed data transfers through 3G and 4G LTE. The global Smart Railways market is estimated to grow from $12.30 billion in 2013 to $39.20 billion in 2018. This rise in revenue is at a Compound Annual Growth Rate (CAGR) of 26.1% from 2013 to 2018.
North America shows a rapid growth rate in urbanization due to the increasing global immigration from Latin America and Asia. The largest metropolitans in this region are New York, Los Angeles, Chicago, and Toronto with an estimated population of over 60 million in 2012. The urban population is increasing rapidly due to evolving tourist destinations and global business and corporate hubs. The total rail passenger traffic in the region of 12.5 billion passenger-km accounts for only 0.4% of the global traffic. But the growing congestion over domestic and international air routes and inter-state highways have raised the demand for railways. The growing passenger traffic has created a need for the development of High-Speed Rail (HSR) networks.
The North American Smart Railways market is estimated to grow from $3.58 billion in 2013 to $10.96 billion in 2018. This rise in revenue is at a Compound Annual Growth Rate (CAGR) of 25.1% from 2013 to 2018.
Browse through the market data tables, figures and detailed ToC on the “North American Smart Railways (ICT) Market”.
http://www.micromarketmonitor.com/market/north-america-smart-railways-ict-6340398483.html
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Latin American Smart Railways (ICT) Market
The growth in population in the Latin American region has led to increased demand of passenger traffic. More than 75% of the Latin American population of 590 million currently resides in cities. Thus, cities are getting concentrated due to urbanization. The growing cities in the Latin American region have influenced the public transit systems market. Cities such as Rio de Janeiro, Sao Paulo, and Buenos Aires have various metro projects with advanced infrastructure and hi-tech operation solutions. The smart railways market is expected to surge in the LA region in the near future.
The Latin American Smart Railways Market is estimated to grow from $0.99 billion in 2013 to $3.41 billion in 2018. This rise in revenue is at a Compound Annual Growth Rate (CAGR) of 28.1% from 2013 to 2018.
Some of the key players in the Latin America Smart Railways Market can be considered to be Alstom SA, Ansaldo STS, Bombardier Transportation, Siemens AG, and others.
http://www.micromarketmonitor.com/market/latin-america-smart-railways-ict-9686066247.html
European Smart Railways (ICT) Market
The trend of globalization has made a great impact upon the number of passengers traveling globally. The developed economies of Europe have become a major commerce and tourist hub. In 2012, Europe had 534 million tourists with an increase of 3.4% over 2011. The smart railways market has huge potential to offer advanced, safe, and reliable service to the global passengers. The adoption of European Rail Traffic Management Systems (ERTMS) and Communication-Based Train Control (CBTC) has strengthened uniform cross-border transportation. Europe shows a consistent positive growth in the smart railways market.
The European Smart Railways Market is estimated to grow from $4.23 billion in 2013 to $12.83 billion in 2018. This rise in revenue is at a Compound Annual Growth Rate (CAGR) of 24.8% from 2013 to 2018.
Some of the key players in the Europe Smart Railways Market can be considered to be Alstom SA, Ansaldo STS, Bombardier Transportation, Siemens AG, and others.
http://www.micromarketmonitor.com/market/europe-smart-railways-ict-2149694696.html
Asia-Pacific Smart Railways (ICT) Market
Global statistics suggest that over 4.2 billion people reside in the Asia Pacific (APAC) region, which constitutes over 61% of the total world population. The two major developing economies, China and India, alone constitute around 36% of the world population. Thus passenger traffic would become very high in the near future. The expansion of existing transport modes is the only solution to meet the increasing demand. The increasing population has caused heavy traffic densities in the developing countries over roadways. The railway service provides an efficient transportation solution over the large geographical region. The changing travel demands of the population have created the necessity to transform the existing railway service into a smarter and more reliable mode of transport.
The Asia-Pacific Smart Railways Market is estimated to grow from $2.20 billion in 2013 to $7.24 billion in 2018. This rise in revenue is at a Compound Annual Growth Rate (CAGR) of 26.9% from 2013 to 2018.
Some of the key players in the Asia-Pacific Smart Railways Market can be considered to be Alstom SA, Ansaldo STS, Bombardier Transportation, Siemens AG, GE Transportation, and others.
http://www.micromarketmonitor.com/market/asia-pacific-smart-railways-ict-8490981161.html
Middle-East & African Smart Railways (ICT) Market
The density of rail network in the MEA region is very low. The majority of the regions are heavily dependent upon motorways. Vehicular traffic is growing rapidly. But due to infrastructure saturation, railway services are becoming a favorable mode of transportation. The smart railway infrastructure has become an essential need of the region. The rise in the high-speed rail sector has created a need to upgrade existing infrastructure. Governments are spending billions of dollars to connect its oil and gas and mining industries and ports with modern railway networks. The MEA region shows promising growth trends for the smart railways market.
The Middle-East & Africa Smart Railways Market is estimated to grow from $1.30 billion in 2013 to $4.77 billion in 2018. This rise in revenue is at a Compound Annual Growth Rate (CAGR) of 29.6% from 2013 to 2018.
Some of the key players in the Middle-East & Africa Smart Railways market can be considered to be Alstom SA, Ansaldo STS, Bombardier Transportation, Siemens AG, GE Transportation, and others.
http://www.micromarketmonitor.com/market/middle-east-and-africa-smart-railways-ict-4203753950.html
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