The Smart Railway Market is valued at USD 155.8 billion in 2020 and is expected to reach USD 36.58 billion by 2026 and grow at a CAGR of 15% over the forecast period (2021-2027). Global trends such as digitization, connectivity, sustainability, energy savings and IoT integration have led to the emergence of smart rail systems. The global population is expected to reach 9.8 billion by 2050, of which 75% will live in cities. Hence, it has become essential for public institutions to ensure that the transport sector is aligned to meet the growing connectivity requirements.
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Smart Railway Market Segments:
By System
• Passenger Information System
• Rail & Freight Operations Management System
• Smart Safety & Security Monitoring System
• Rail communication & Networking System
• Smart Ticketing System
• Rail Analytics System
• Others
By Offering Type
• Solutions
• Components & Devices
• Services
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