Rail Asset Management Market witnessed USD 8,911 million in 2019, growing at a robust CAGR of 5.2% during forecast period.

Introduction of the Rail Asset Management Market Report

Rail asset management with the help of the advanced technology plays vital role for delivering outstanding performance of the railway assets. Several intelligent softwares are being utilized for collective and analysing the data about usage to predict and prevent maintenance of the rail assets. These solutions are aligned with its corporate objectives to improve safety, support economic growth and social opportunities and minimise its environmental impact through the vital solutions. Asset management is used to plan, execute, and monitor content development projects in real time by minimizing deviations in cost and other factors. The main objective of the rail asset management includes corrective, preventive, and predictive maintenance solutions for rail, wheels and axle’s management, train overhauls and infrastructure renewals, maintenance performance analysis, and continuous improvement methodologies.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global rail asset management market include increasing population, growing government initiatives to adopt the new technologies to monitor the rail systems remotely, rising adoption of the digital technologies among consumers about the railway across the globe. An increase in the number of government initiatives for improving the rail infrastructure, services and assets propels the market growth of the rail asset management over the forecast period. For instance, in June, 2020, the United State Department of Transportation’s Federal Railroad Administration (FRA) has granted the funding of US$ 291.4 million with issuing of a Notice of Funding Opportunity (NOFO) for the Federal-State Partnership for State of Good Repair Grant Program (Partnership Program). The NOFO Partnership Program helps to repair and rehabilitate intercity passenger railroad assets across the United States.

Further, several leading players are partnering with the government bodies to transform the rail infrastructure into the digital technology. For instance, in December, 2020, Siemens Mobility and Siemens Limited India has  made partnership with Bengaluru Metro Rail Corporation Limited (BMRCL) for implementing a comprehensive set of automated train solutions in its phase 2 metro expansion project. The CBTC project in India with GoA 4 made highest grade of automation to allow trains to be automatically controlled and operated.

Restraint in the Rail Asset Management Market

However, the required high capital cost and skilled workforce to manage using the advanced technology services may hamper the global rail asset management market. Further, the growing aging workforce in railways has a lack of knowledge and experience in the management of advanced technology related to rail assets that hinder the market growth.

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Solutions – Segment Analysis

Based on the solutions, asset performance management expected to grow at the fastest rate in the global rail asset management market during the study period. This is primarily attributed to rising adoption of the digital technology to manage the rail assets, so as to reduce the operational cost of rail systems.

Services – Segment Analysis

Based on the services, managed services projected to have the largest market share over the forecast period in the global rail asset management market, owing to rising demand for the contract based solutions by the government authorities to optimize and manage the rail systems. Thus, the managed services are being utilized for rail asset management with advanced technologies. For instance, in April, 2020, ZTR locomotive modernisation technology in collaboration with BlackBerry security software company have launched a remote wagon monitoring system for providing the operators with greater insights into the fleets.

Application – Segment Analysis

Based on the application, infrastructure holds the highest market share in 2019 in the global rail asset management market owing to surge in the government initiatives and rising population demand for the transportation management through the digital technologies. For instance, in Jan, 2021, Chennai Metro train adopted the new advanced technology “asset management system” software to make remote control possible from the operations control centre.

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Regional – Segment Analysis:

Based on the region, North America region is expected to dominate the global rail asset management market in 2019 due to the rising adoption of the advanced technologies, presence of leading tech players with growing government initiatives to digitalize rail assets. For instance, in May, 2020, the U.S. Massachusetts’s 6th congressional district government has planned to invest around US$ 240 billion for expanding nationwide high-speed rail network. The plan may create an estimated 2.6 million jobs over the upcoming five years to free market thrive in transportation in the North American economy. Thus, it created massive demand for the growth of the rail asset management market in this region followed by Europe and Asia-Pacific region.

Top Market Players

Various notable players operating in the market, include, Trapeze Group, WSP, Atkins, Siemens, IBM, Hitachi, Capgemini, SAP, Trimble, Bentley Systems, DXC Technology, and among others. 

Key Developments:

• • In 2021, Siemens Mobility has developed data led services using the IoT  for offering a deep results for the rail network operators.
  • In 2019, TCS made partnership with SAP for building the intelligent rail digital maintenance (iRDM) application to help rail customers digitally transform their businesses. 

Segments covered in the Report:

The global rail asset management market has been segmented on the basis of solutions, services, application, and key regions. Based on solutions, the market is segmented into Reporting and Analytics, Asset Performance Management, Financial Management, Workforce Management, MRO Materials Management and Others. Based on services, the market is segmented into Managed Services, and Professional Services. Based on application, the market is segmented into infrastructure, inventory, rolling stock and service contract management. 

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Key questions answered in this research report:

• • At what pace is global Rail Asset Management market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Rail Asset Management market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Rail Asset Management market?
  • Which Solutions generated maximum revenues in 2019 and identify the most promising Solutions during the forecast period?
  • What are the various Services areas of global Rail Asset Management market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Rail Asset Management Market by Solutions

• • Reporting and Analytics
  • Asset Performance Management
  • Financial Management
  • Workforce Management
  • MRO Materials Management
  • Others

Global Rail Asset Management Market by Services

• • Managed Services
  • Professional Services

Global Rail Asset Management Market by Application

• • Infrastructure
  • Rolling Stock
  • Service Contract Management

Global Rail Asset Management Market by Region

• • North America Rail Asset Management Market (Option 1: As a part of the free 25% customization)
    • North America Rail Asset Management Market by Solutions
    • North America Rail Asset Management Market by Services
    • North America Rail Asset Management Market by Application
    • US Rail Asset Management Market All-Up
    • Canada Rail Asset Management Market All-Up
  • Europe Rail Asset Management Market (Option 2: As a part of the free 25% customization)
    • Europe Rail Asset Management Market by Solutions
    • Europe Rail Asset Management Market by Services
    • Europe Rail Asset Management Market by Application
    • UK Rail Asset Management Market All-Up
    • Germany Rail Asset Management Market All-Up
    • France Rail Asset Management Market All-Up
    • Spain Rail Asset Management Market All-Up
    • Rest of Europe Rail Asset Management Market All-Up
  • Asia-Pacific Rail Asset Management Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Rail Asset Management Market by Solutions
    • Asia-Pacific Rail Asset Management Market by Services
    • Asia-Pacific Rail Asset Management Market by Application
    • China Rail Asset Management Market All-Up
    • India Rail Asset Management Market All-Up
    • Japan Rail Asset Management Market All-Up
    • Rest of APAC Rail Asset Management Market All-Up
  • RoW Rail Asset Management Market (Option 4: As a part of the free 25% customization)
    • RoW Rail Asset Management Market by Solutions
    • RoW Rail Asset Management Market by Services
    • RoW Rail Asset Management Market by Application
    • Brazil Rail Asset Management Market All-Up
    • South Africa Rail Asset Management Market All-Up
    • Saudi Arabia Rail Asset Management Market All-Up
    • UAE Rail Asset Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Rail Asset Management Market All-Up

Major Players Operating in the Rail Asset Management (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Trapeze Group
  • WSP
  • Atkins
  • Siemens
  • IBM
  • Hitachi
  • Capgemini
  • SAP
  • Trimble
  • Bentley Systems
  • DXC Technology