This research study involved the extensive use of secondary sources, directories, and databases, such as Dun & Bradstreet (D&B) Hoovers and Bloomberg BusinessWeek, to identify and collect information useful for a technical, market-oriented, and commercial study of the digital railway market. The primary sources were mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.
Secondary Research
The market size of companies offering digital railways worldwide was arrived at based on secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolio of major companies and rating them based on their performance and quality.
In the secondary research process, various secondary sources were referred to to identify and collect information for the study. The secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from the OECD, International Railway Journal, Railway Gazette International, and the US DoT. The spending by various countries in the railway sector was extracted from their respective transportation associations, such as Société Nationale Des Chemins De Fer Français (SNCF), Taiwan Railways Administration (TRA), Passenger Rail Agency of South Africa (PRASA), European Rail Freight Association, and the European Union (EU) Agency for Railways.
Secondary research was mainly used to obtain key information about the industry’s value chain and supply chain and to identify key players through various solutions and services, market classification and segmentation according to the offerings of major players, industry trends related to technologies, applications, and regions, and key developments from both market-oriented and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams; related key executives from digital railway solution vendors, professional service providers, and industry associations; and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, revenue data collected from solutions and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users using digital railway solutions, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of digital railway solutions, which would impact the overall digital railway market.
Note: Tier 1 companies’ revenue is more than USD 1 billion; Tier 2 companies’ revenue ranges between USD 500 million and 1 billion; and Tier 3 companies’ revenue ranges between USD 100 million and 500 million. Other designations include sales managers, marketing managers, and product managers.
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Market Size Estimation
Multiple approaches were adopted to estimate and forecast the size of the digital railway market. The first approach involved estimating market size by summing up the revenue generated by companies through the sale of digital railway offerings.
Top-down and bottom-up approaches were used to estimate and validate the total size of the digital railway market. These methods were also extensively used to estimate the size of various market segments. The research methodology used to evaluate the market size is listed below.
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Key players in the market were identified through extensive secondary research.
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In terms of value, the industry’s supply chain and market size were determined through primary and secondary research processes.
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All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.
Digital Railway Market : Top-Down and Bottom-Up Approach
Data Triangulation
After determining the overall market size, the digital railway market was divided into several segments and subsegments. A data triangulation procedure was used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.
Market Definition
Digital railways deploy and integrate technologies such as the Internet of Things (IoT), artificial intelligence (AI), analytics, cloud, and cybersecurity to enhance railway infrastructure and improve safety and performance. These technologies are used to improve rail operations, ticketing, passenger experience, workforce management, and asset management.
Stakeholders
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Digital Railway Vendors
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Network and System Integrators (SIs)
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Cloud Service Providers
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Digital Railway Infrastructure Providers
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Digital Railway Support Service Providers
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Digital Railway Companies
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National Railway Governing Authorities/Regulators/Bodies
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Independent Software Vendors (ISVs)
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Value-added Resellers (VARs) and Distributors
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Consultancy Firms and Advisory Firms
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Regulatory Agencies
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Governments
Report Objectives
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To determine and forecast the digital railway market by offering (solutions and services), application, and region
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To forecast the size of the market segments for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market’s growth
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To analyze each submarket concerning individual growth trends, prospects, and contributions to the overall market
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To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the market
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To profile the key market players, provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the market’s competitive landscape
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To track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships, collaborations, and research and development (R&D) activities
Customization Options
With the given market data, MarketsandMarkets offers customizations to meet the company’s specific needs. The following customization options are available for the report:
Country-wise information
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Analysis for additional countries (up to five)
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Digital Railway Market