What is Railway Fleet Management System?
Rail Fleet Management System is used to streamline all processes related to maintenance activities and to reduce risk. It includes covers a set of procedures and instructions to minimise the risk associated with the maintenance of railway vehicles. It ensure the safe movement of vehicles within the railway network. This management system inspecting tracks, bridges, cuttings, embankments, fences and level crossings. They also look out for obstacles, worn areas or anything which could interfere with the smooth running of a train service. This software also reduce overall cost of manual work. Owing to this unique feature, the preference towards Rail Fleet Management System has been raised. Geographically, Asia Pacific region is expected to grow with highest demand followed by North America and European region.
The market study is broken down, by Application (Preventive Measurement Maintenance, Track Maintenance Operation, Downtime Analysis for Maintenance, Defect Reporting and Others) and major geographies with country level break-up.
The market of Rail Fleet Management System is expected to grow with rising demand for railway industrial activities management. Several companies are operating in the market to provide software with excellent feature. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global Railway Fleet Management System market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CLX Logistics (United States), Railnova (United States), Fiix (United States), UpKeep (United States), ServiceChannel (United States), Maintenance Connection, Inc. (United States), Limble CMMS (Canada), Maint Enterprises (United States), ManagerPlus Solutions, LLC (France), FasTrak SoftWorks (India), Facilities Management Express LLC (United States) and UpKeep Maintenance Management (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Railway Fleet Management System market by Type, Application and Region.
On the basis of geography, the market of Railway Fleet Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Operating System, the sub-segment i.e. MacOS will boost the Railway Fleet Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solution {Tracking Management, Real Time ETA Calculations, Others} will boost the Railway Fleet Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. Cloud will boost the Railway Fleet Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In January 2020, the German government signed an agreement with Deutsche Bahn AG. This contract is valued at USD 101 billion for 10-year. This is mainly for LuFV III railway operating & financing for renewing the rail network in the Germany. Under is agreement, company will provide installation of advanced sensors, tracks, and communication systems with proper management and security.
Market Trend
- Growing Adoption of Railway Industry towards End To End Rail Fleet Management System Solutions Which Further To Reduce Overall Maintenance Cost
Market Drivers
- Preference for the Use of Sophisticated Set of Computations Software for Rail Fleet Management on Single Integrated Platform Is Driving the Demand for Rail Fleet Management System
- Rising Necessity for Streamlining Process Flows in Routinely Maintenance Activities
- Increasing Railway Network Infrastructure across the Globe
Opportunities
- Technological Advancements with AI & Automation Has Created Ample Opportunities
- Growing Investment of Government to Building and Develop Railways Network and Infrastructure
Restraints
- High Cost Associated with Installation & Technical Issue associated with Software Handling
Challenges
- Data Security Concerns
- Poor Developed Railway Network in Emerging Countries of Middle East and Africa
Key Target Audience
Rail Fleet Management System Providers, Research Organizations, New Entrants/Investors, Strategic Business Planners, Government Regulatory and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.