Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Digital Railway Market size is expected to reach $103.7 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 9.7% during (2022 - 2028). Digital services offer higher lifecycle cost effectiveness, increased throughput, guaranteed availability, and superior reliability. With decades of real-world experience in train service, experts offer a full portfolio for optimal maintenance operations, ranging from connectivity and measuring technologies to clever algorithms and precise analytics. A potent combination of expert skills makes up digital rail services.
The Rail Operations Management segment acquired maximum revenue share in the Global Digital Railway Market by Application in 2021 thereby, achieving a market value of $39.1 billion by 2028. It is because it helps in improving visibility and control over all railroad operations, including service design, location scheduling, equipment management, tracking operations, and network optimization, to maximize utilization and boost profitability.
The Europe market dominated the Global Digital Railway Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $31.4 billion by 2028. The North America market is exhibiting a CAGR of 8.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/digital-railway-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, ABB Group, Fujitsu Limited, IBM Corporation, Cisco Systems, Inc., ALSTOM Holdings, Huawei Technologies Co. Ltd., Thales Group S.A., Hitachi, Ltd., and Wabtec Corporation.
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