Smart Railways Market

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 smart railways 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 smart 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 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 smart railways 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 smart railways solutions, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of smart railways solutions, which would impact the overall smart railways 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.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Multiple approaches were adopted to estimate and forecast the size of the smart railways market. The first approach involves estimating market size by summing up the revenue generated by companies through the sale of smart railway offerings.

Top-down and bottom-up approaches were used to estimate and validate the total size of the smart railways 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.

• Key players in the market were identified through extensive secondary research.
• In terms of value, the industry’s supply chain and market size were determined through primary and secondary research processes.
• All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.

Smart Railways Market : Top-Down and Bottom-Up Approach

Data Triangulation

After determining the overall market size, the smart railways 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.