The market is predominantly driven by rapid urbanization, increasing demand for safety and security in railway systems, infrastructural growth, and advancements in the rail technology.
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Globally, Europe led the train control management system market during the historical period, accounting for over 45% revenue in 2017. The region is expected to continue leading the market in the coming years as well. However, during the forecast period, the market is expected to witness the fastest growth in the Rest of the World (RoW) region, primarily due to the increasing urban population in the developing countries of the region, which, in turn, is generating the demand for rapid public transit systems.
With the world being rapidly transformed by technological advancements, conventional mass transit systems, particularly railways, are also being affected. Conventional railways are phasing out gradually, especially in developed countries, and are being replaced by high-speed trains and metros. The introduction of rapid mass transit systems, such as metros and subways, has led to the demand for control and maintenance systems that can manage the system operation in these railways, in addition to keeping the passengers updated about their journey through data monitoring and utilization.
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Some of the major players operating in the train control management system market are Alstom S.A., Bombardier Inc., Toshiba Corporation, Siemens AG, Construcciones y Auxiliar de Ferrocarriles S.A., China Railway Signal & Communication Corporation Limited, and Knorr-Bremse AG.
