Global Smart Locomotive Market is expected to reach US$ XX Bn by 2026 from US$ XX Bn in 2019 at a CAGR of 15 % during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Smart Locomotive Definition:
Smart locomotives are railways built using smart technologies like cloud computing, data analytics, and GSM-R systems. Smart locomotive uses IoT solutions whose application makes it easy to collect the data of the locomotive. Smart Locomotive includes everything from smart ticketing, freight information, smart networking systems, etc. The smart locomotive has helped to improve the efficiency of transport and reduction of the cost due to the automation of the various processes.
Global Smart Locomotive Market Dynamics:
An increase in the smart locomotive is boosted by the increasing need for urban connectivity, increased integration of IoT-based solutions, and a higher emphasis on reducing emissions, which is the main concern regarding the environment. The use of smart solutions for the provision of transport capacity for the increasing population. The increasing use of machine-to-machine (M2M) technology, embedded sensors, computer power, Big Data, and the Internet of Things in transport solutions are the main factors driving the growth of the Global Smart Locomotive Market.
The increase of data generated by the rail network and the need for improved rail infrastructure is also driving the adoption of the smart locomotive. The need to improve the driving efficiency of train drivers and travelling conditions need efficiency and improvement, which is expected to create opportunity for the Global Smart Locomotive Market.
The use of a smart locomotive helps to provide complete information about the train and various data relating to it, which helps to improve the efficiency of the work. The smart locomotive is considered the best option for reducing the number of train-related accidents and problems associated with the inefficiency of the trains.
Increased investment in smart energy and grid systems and the development of digitalization of power utilities are expected to drive the growth of the Global Smart Locomotive Market. Technological advancement and the increasing need for the production of alternative energy have boosted the demand for smart locomotive. The smart locomotive also enables the automatic door to open and close and emergency braking whenever required.
Global Smart Locomotive Market Segment Analysis:
The report groups the Global Smart Locomotive Market in different segments by component, and region to forecast the revenues and analyze the market share of each segment over the forecast period.
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Based on the Component, the segments include Rail Analytics System, Railway Communication and Networking System, Freight Information System, Smart Ticketing System, Advanced Security Monitoring System, Passenger Information System, and Other. The Rail Analytics System segment was dominant in 2019 and is expected to command a market share of xx% by 2026.
Rail Analytics System provides close coordination with security and surveillance systems through, which various activities like timetable management, capacity optimization, timely travel service, and predictive maintenance can be done regularly improving the locomotive efficiency.
Due to the various advantages, rail operators of different regions are investing in the rail analytics system. Rail Analytics systems give the ability to track and monitor, diagnose and maintain task management with different tools like data analytics, driver assistance systems, mobile technician app, and others.
Global Smart Locomotive Market Regional Insights:
Global Smart Locomotive Market Regional Insights
The Asia Pacific is expected to command the largest market share of xx% by 2026
International Union of Railways has stated that the developing economies like India and China in the Asia Pacific accounted for 28 % of the total railway network of the world. The government investment for the up-gradation of the locomotive facilities has contributed to the growth of the Smart Locomotive market in the region.
Increasing megacities development such as four of the world's megacities are in china and the merging of various more cities is expected to boost the growth of the Global Smart Locomotive Market. Government funds and various banks in china are coming up for the up-gradation of the locomotive to the smart locomotive.
The objective of the report is to present a comprehensive analysis of the Global Smart Locomotive Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Smart Locomotive Market dynamics, structure by analyzing the market segments and projects the Global Smart Locomotive Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Locomotive Market make the report investor’s guide.
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Global Smart Locomotive Market Key Players
• Hitachi Ltd. (Japan)
• CRRC Corporation Limited (China)
• Bombardier Inc. (Canada)
• Alstom S.A. (France)
• ABB (Switzerland)
• Siemens AG
• Alstom S.A.
• Thales Group
• Hyundai Rotem
• AGE Power Solutions
• Wabtec Corporation
• Toshiba International Corporation
• CZ Loko
• Bharat Heavy Electricals Limited
• Metso Corporation
• Brookville Equipment Corporation
• KONČAR - Electronics and Informatics Inc.
• Stucki Company
• UGL Rail
• Kawasaki Rail Car, Inc.
• HYUNDAI ROTEM COMPANY
• Taiwan Rolling Stock Co Ltd.
• Stadler Rail AG
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