Global Wayside Control Systems Market – Introduction
Wayside control systems easily connect train operations to back-of?ce management for monitoring, vital signaling, and other applications. Wayside control systems effortlessly integrate control, networking, and information processing in a single automation control system.
Wayside control systems helps to expand industrial network efficiently & quickly, and their industrial-grade design also assures stability & reliability. Wayside control systems are generally used in the rail industry.
Increasing budget for development of railways driving the global wayside control systems market
Emerging countries such as India and China are digitalizing their railway infrastructure by allocating higher budgets for the same. For instance, according to India Brand Equity Foundation, India is expected to allocate a budget of US$124.13 Bn to its railway sector from 2018 to 2022, which was US$18.8 Bn in 2017.
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Simultaneously, numerous countries worldwide are constantly focusing on increasing their rail budget to adopt novel technologies such as rolling stock, wayside control systems, etc. For instance, according to the Canadian government, the Canadian National Railway (CN) department invested approximately US$320 Mn in Ontario to enhance the railway structure. Therefore, increasing budgets or expenditure for development of railways is driving the global wayside control systems market.
Rise in use of public transport services to minimize traffic congestions, expected to be an opportunity in near future for the market
Road transportation is becoming more and more crowded with the upsurge in sale of private vehicles including passenger cars and bikes, which leads to road congestion or road blockage. Direct costs connected with road blockage is expected to reach approximately 2% of GDP as these blockages directly translate into extra money and time.
Other public transportation options such as trams, passenger trains, metros, and monorails are capable of carrying many passengers on board. At the same time, they help to free up the road space to be utilized by other vehicles. This in turn encourages the growth of public transport and the adoption of novel technologies such as wayside control systems.
Lack of proper rail infrastructure expected to significantly hamper the wayside control systems market
Many underdeveloped countries across the globe suffer from lack of proper rail infrastructure due to the absence of integrated planning, low budgets, and huge information gap. This results in low adoption of novel technologies or digitalization in the railway sector in countries such as South Africa.
Key Players Operating in the Global Wayside Control Systems Market
Advantech Co., Ltd.
Alstom