Technavio analysts forecast the global railway network cables market to grow at a CAGR of around 6% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190107005521/en/
Technavio has published a new market research report on the global railway network cables market from 2018-2022. (Graphic: Business Wire)
The ingress of IoT technology in railways is one of the major trends being witnessed in the global railway network cables market 2018-2022. Internet of things (IoT) technology is used extensively in modern railway systems to control and manage technology and communication systems. The use of IoT and big data systems to analyse and derive insights from rail operations has remained very limited. The opportunities for the use of IoT in railways is expected to increase as the capabilities of industrial IoT components and systems continue to grow.
This report is available at a USD 1,000 discount for a limited time only:View market snapshot before purchasing
According to Technavio analysts, one of the key factors contributing to the growth of the global railway network cables market is smart railways gaining popularity:
Global railway network cables market: Smart railways gaining popularity
The increase in air traffic and road transport congestion have led to rail transport becoming a feasible alternative, in both advanced and emerging economies such as India and China. The railways are a safer, cleaner, and more credible and competitive alternative when compared with road and air transport. In spite of challenges such as high initial investment and high maintenance cost, geographical, financial, and environmental factors favor growth of rail infrastructure.
According to a senior analyst at Technavio for research on power, “Smart railway infrastructure provides services and solutions, which act as catalysts for the next phase of the rail transport industry's growth. The smart railway transport system can transform rail networks from a basic means of transport to complex systems that can be indispensable in providing comfort to passengers on trains.”
Global railway network cables market: Segmentation analysis
The global railway network cables market research report provides market segmentation by application (power cables and signal and communication cables) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The power cables segment held the largest railway network cables market share in 2017, accounting for over 55% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
Looking for more information on this market?Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190107005521/en/
