The communication-based train control system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Communication-Based Train Control System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The communication-based train control system market size has grown rapidly in recent years. It will grow from $4.05 billion in 2023 to $4.54 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to safety improvements, capacity optimization, real-time communication and control, adoption of modern signaling, increasing urbanization, improved passenger experience.
The communication-based train control system market size is expected to see rapid growth in the next few years. It will grow to $6.78 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to globalization, public demand for sustainable transportation, public safety, increasing digitization of railway infrastructure, focus on cybersecurity. Major trends in the forecast period include advancements in wireless communication technology, integration with internet of things (IoT), artificial intelligence and machine learning, autonomous train operations, deployment of 5G.
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Scope Of Communication-Based Train Control System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Communication-Based Train Control System Market Overview
Market Drivers –
A rising demand for high-speed train services is expected to propel the growth of the communication-based train control system market going forward. High-speed train services offer rapid and efficient transportation between major urban centers, catering to passengers who prioritize speed and convenience. With frequent departures and arrivals, high-speed train services offer passengers enhanced journey flexibility, further complemented by the accessibility of city center train stations, adding to the convenience of utilizing high-speed rail. Using advanced communication technologies, communication-based train control (CBTC) systems are extensively employed in high-speed rail networks to enable real-time monitoring and control of train movements, ensuring safe and efficient operations while allowing for tighter spacing between trains and higher operating speeds. For instance, in July 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, China’s railway network, which includes 42,000 km of high-speed railways among its total of 155,000 km, has experienced remarkable growth over the past two decades and expected to reach 50,000 km by 2025. Therefore, the rising demand for high-speed train services drives the communication-based train control system market.
Market Trends –
Major companies operating in the communication-based train control system market are focused on developing technological innovations, such as SelTrac G8, to enhance railway safety and efficiency. It enables efficient and reliable communication for train control systems, ensuring seamless and safe rail operations. For instance, in March 2021, Thales Group, a France-based provider of communication networks and infrastructure systems, launched SelTrac G8, the eighth generation of its communications-based train control (CBTC) system, which features an innovative digital architecture offering adaptable options to reduce trackside equipment needs. Transport operators implementing SelTrac G8 can enjoy continual system enhancements through easy software upgrades. Moreover, the G8 platform allows for smooth integration with existing SelTrac systems, providing investment protection by facilitating the seamless incorporation of future technologies for performance enhancements or obsolescence management.
The communication-based train control system market covered in this report is segmented –
1) By System: Basic Communications Based Train Control (CBTC), Integrated-Communications Based Train Control (CBTC)
2) By Automation Grade: GoA1, GoA2, GoA3, GoA4
3) By Train Type: Metros, Commuter trains, High-Speed Trains
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Regional Insights –
North America was the largest region in the communication-based train control system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the communication-based train control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the communication-based train control system market are Huawei Technologies Co. Ltd., Hitachi Ltd., Cisco Systems Inc., Mitsubishi Electric Corporation, CRRC Corporation Limited, ABB Ltd., Toshiba Infrastructure Systems & Solutions Corporation, Ericsson AB, Nokia Corporation, Thales Group, ZTE Corporation, Network Rail Limited, Alstom SA, Wabtec Corporation, Knorr-Bremse AG, Indra Sistemas S.A., Stadler Rail AG, CAF Signaling S.L., Belden Inc., Siemens Mobility AS, Nippon Signal Co. Ltd., Kyosan Electric Manufacturing Co. Ltd., UniTTEC Co. Ltd., Teleste Corporation, Argenia Railway Technologies Inc.
Table of Contents
1. Executive Summary
2. Communication-Based Train Control System Market Report Structure
3. Communication-Based Train Control System Market Trends And Strategies
4. Communication-Based Train Control System Market – Macro Economic Scenario
5. Global Communication-Based Train Control System Market Size and Growth
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32. Global Communication-Based Train Control System Market Competitive Benchmarking
33. Global Communication-Based Train Control System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Communication-Based Train Control System Market
35. Communication-Based Train Control System Market Future Outlook and Potential Analysis
36. Appendix
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