The smart railways market is expected to witness market growth at a rate of 13.20% in the forecast period of 2021 to 2028 and is expected to reach USD 55,156.72 million by 2028. Data Bridge Market Research report on smart railways market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in government initiatives for smart cities is escalating the growth of smart railways market.
Smart railways refer to railways built by the deployment of GSM-R systems, cloud computing and data analytics. To grasp the condition information distributed over wide railway area, the IoT solution is applied for the smart railway application. Smart railways comprise of smart ticketing, e- catering and freight information systems among others. They assist in efficient transport and provide reduction in costs eventually by automating various processes and leveraging technology to improve services.