Train Control and Management Systems Market Top Players: Rising Demand For Rapid Rail Transit Systems To Influence Demand
The global train control and management system market is highly competitive and fragmented, states a new study by Transparency Market Research (TMR). The top four companies, namely, Bombardier Inc., Alstom S.A., Siemens AG, and Toshiba Corp. could occupy a share of nearly 45% only in this market in 2015. With the rising number of new entrants, the competition within the market is likely to intensify in the near future. As per TMR’s estimations, the global market for train control and management systems, which presented an opportunity worth US$2.5 bn in 2015, will rise at a CAGR of 8.20% during the period from 2016 to 2024 and touch US$5.01 bn by the end of the forecast period. Communication-based systems witness a higher demand than other train control and management systems and are expected to continue doing so over the next few years. The benefits these systems offer, such as the reduced maintenance costs and enhanced interoperability, act as the main driving force beh...