Train Control Management System Market to Reach $5.09 Bn, Globally, by 2027 at 8.7% CAGR: Allied Market Research

PORTLAND, Ore., July 6, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Train Control Management System Market by Component (Vehicle Control Unit, Mobile Communication Gateway, Human Machine Interface, and Others), Solution (Communication-based Train Control, Positive Train Control, and Integrated Train Control), Network Type (Ethernet Consist Network (ECN), Multifunctional Vehicle Bus (MVB), and Wired Train Bus (WTB)), and Train Type (Metros & High Speed Trains, Electric Multiple Units, and Diesel Multiple Units): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global train control management system industry was estimated at $3.13 billion in 2019, and is anticipated to hit $5.09 billion by 2027, registering a CAGR of 8.7% from 2020 to 2027.

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Drivers, restraints, and opportunities-

Growth in demand for secure, safer, and efficient transport system and increased allocation of budget for development of railways drive the growth of the global train control management system market. On the other hand, high capital requirement impedes the growth to some extent. However, improvements in railways infrastructure in developing countries are expected to pave the way for lucrative opportunities in the coming years.

COVID-19 Scenario on Train Control Management System Market-

• Lockdown announced during the initial phase of covid-19 has impacted the overall production and sales of the train control management system.
• In addition, public transports and mobility were completely shut down owing to the regulations issued by government bodies to curb the spread of coronavirus. This has majorly impacted the industry, globally.
• Nevertheless, the government bodies have now lifted the restriction partially, thereby allowing a certain categories of passengers with limitations. In addition, various regions are now recovering, which would aid the industry in a positive way.

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The vehicle control unit segment to dominate by 2027-

Based on component, the vehicle control unit segment accounted for nearly half of the global train control management system market share in 2019, and is expected to lead the trail by the end of 2027. This is due to its application in the field of crew human machine interface (HMIs) management, SIL & safety applications, fleet management, lighting management, battery charge monitoring, and other crucial application. At the same time, the human machine interface segment is anticipated to register the fastest CAGR of 10.3% throughout the forecast period.

The positive train control segment to maintain the dominant share-

Based on solution, the positive train control segment contributed to nearly two-thirds of the global train control management system market revenue in 2019, and is projected to dominate 2027. This is due to its ability to map train collisions over speed derailment and other potential dangerous situations. On the other hand, integrated train control segment would exhibit the fastest CAGR of 12.2% from 2020 to 2027. Advantages offered such as enhanced safety & throughput, and its robust & cost-effectiveness drive the growth of the segment.

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Europe, followed by Asia-Pacific and North America, to rule the roost-

Based on region, Europe, followed by Asia-Pacific and North America, held the major share in 2019, generating around one-third of the global train control management system market, attributed to increase in use of public transport and demand for safe, secure, and efficient transportation. Simultaneously, the market across LAMEA would manifest the fastest CAGR of 11.3% by 2027. Focus of companies operating in the railway sector on development of semi-autonomous and fully autonomous railways is propelling the growth of the market in LAMEA.

Key players in the industry-

• Mitsubishi Electric Corporation
• Knorr-Bremse
• Alstom
• Thales Group
• EKE Group
• Bombardier
• Hitachi, Ltd.
• Siemens
• Toshiba Corporation
• ABB

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