Advancements in the Rail Technology Are Driving the Growth of the Train Control Management System Market

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Train control management system market is projected to reach $4.9 billion by 2023.
The market is predominantly driven by rapid urbanization, increasing demand for safety and security in railway systems, infrastructural growth, and advancements in the rail technology.
On the basis of component, the train control management system market has been categorized into vehicle control unit, mobile communication gateway, human–machine interface (HMI), and others. In terms of value, the category of vehicle control units held the largest market share in 2017 and is poised to continue dominating the market in the coming years as well.
Globally, Europe led the train control management system market during the historical period, accounting for over 45% revenue in 2017. The region is expected to continue leading the market in the coming years as well. However, during the forecast period, the market is expected to witness the fastest growth in the Rest of the World (RoW) region, primarily due to the increasing urban population in the developing countries of the region, which, in turn, is generating the demand for rapid public transit systems.
Some of the major players operating in the train control management system market are Alstom S.A., Bombardier Inc., Toshiba Corporation, Siemens AG, Construcciones y Auxiliar de Ferrocarriles S.A., China Railway Signal & Communication Corporation Limited, and Knorr-Bremse AG.

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