CHICAGO, March 13, 2019
CHICAGO, March 13, 2019 /PRNewswire/ -- According to a new market research report "Automatic Train Control Market by Automation (GoA 1, GoA 2, GoA 3, GoA 4), Service (Consulting, Integration & Deployment), Train Type (Urban (Metro & High-Speed Trains), Mainline (Passenger & Freight Trains)), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global Automatic Train Control Market size is expected to grow from USD 2.2 in 2018 to USD 3.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period.
Major driving factors for the Automatic Train Control Market are population explosion and hyper urbanization, technological advancements targeting passenger convenience, and emerging trend of smart cities.
Browse in-depth TOC on "Automatic Train Control Market"
59 – Tables
32 – Figures
112 – Pages
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GoA 2 segment to account for the largest market size during the forecast period
The GoA 2 segment is expected to hold the largest market size in the Automatic Train Control Market by automation. GoA 2 includes semi-automation train operations. GoA 2-based systems provide full ATP and ATO, along with a train operator stationed at the control cab. ATO systems control train movement by commanding train acceleration and deceleration. The movement of the train is supervised by the ATP system. Under GoA 2, the train operator monitors trackside conditions ahead of the train and is responsible for closing passenger doors and operating the train in the event of any disruption. However, setting the train in motion and stopping the train are performed automatically.
Integration and deployment services segment to account for a larger market size during the forecast period
Integration and deployment services help identify the need for adaptations or upgradations to support the Automatic Train Control software in the existing infrastructure and avoid the restriction of such software. These services help in speedy deployment, save time and costs, enable efficient working, and minimize deployment-related disruptions. Integration and deployment services begin with collecting customers' requirements, and then deploying, integrating, testing, and rolling out solutions. Integration and deployment service providers help end users integrate smart infrastructure solutions with their existing infrastructures. These services help in deploying the best-in-class solutions, independent of the vendor, to develop highly optimized smart railways.
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Europe to account for the largest market size during the forecast period
The region is highly receptive toward advanced technologies, as the European Telecommunications Standards Institute (ETSI) has formed a separate committee to focus on Machine-2-Machine (M2M) communication privacy standardization and high trading standards. Due to the use of advanced mechanical and communication technologies, the region has seen a wide deployment of Automatic Train Control solutions. The dynamics of the rail industry in Europe is changing rapidly with new freight and passenger management systems. With the region's extensive rail network and the drive toward modernization and upgradation, the region has witnessed increased deployment of Automatic Train Control solutions
Major Automatic Train Control Market vendors include Thales (France), Bombardier (Canada), Toshiba (Japan), Alstom (France), Tech Mahindra (India), WSP (Canada), Cisco (US), Hitachi (Japan), GE (US), and Siemens (Germany).
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