Smart railways market is expected highest CAGR of 31.0% during the forecast period 2015-20213/2/2017 With growing technological advancement and digitalization all over the world, the existing traditional rail network is also believed to see massive transformations over next 7-10 years. The transformation of existing rail network would support manufacturing of smart devices and solutions such as advanced security systems, networking and connecting systems, rail operating and management systems, etc. The world is currently witnessing a burgeoned expansion in urban population, which is escalating the demand of public transport facilities such as trains and buses in urban areas. In addition to that, rise in urban population is also leading to expansion of passenger traffic in railways. Citing the above mentioned scenario, rail manufacturers across the globe are expected to develop better and smart rail infrastructure over next 5-6 years according to our research report “Global Smart Railways Market Outlook 2021”.
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