Global IT Spending in Railways market will reach 15315.1 million US$ by the end of 2024

Publisher: QYResearch
Published Date: 2019/9/18

IT Spending in Railways are mainly classified into the following types: Services, Software and Hardware. Services is the most widely used type which takes up about 50.93 % of the total in 2018 in Global

IT Spending in Railways have wide range of applications, such as Facilities Management, Asset Management, Passenger Management, Other. And Facilities Management was the most widely used area which took up about 45.73% of the global total in 2018.

The IT Spending in Railways will reach about 15315.1 million USD in 2024 from 9386.6 million USD in 2018 all around the world, with the CAGR of 10.29%.

Europe is the largest region of IT Spending in Railways in the world in the past few years and it will keep increasing in the next few years. Europe market took up about 34.23% the global market in 2018, while Asia-Pacific and North America were about 28.67%, 27.14%.

Accenture, ALTEN, Altran Technologies, IBM, SAP, ABB, Alcatel-Lucent, Alstom, Hitachi, Bombardier, Capgemini, CGI, Cisco Systems, DXC Technology, GE Transportation, Huawei Technologies, Indra Sistemas, Infosys, Siemens, TCS, Tech Mahindra, Wipro, etc. are the key suppliers in the global IT Spending in Railways market. Top 5 took up more than 30% of the global market in 2018. Accenture, IBM, SAP, ABB, Alcatel-Lucent, Alstom, Hitachi, Cisco Systems, DXC Technology, GE Transportation, etc. which have leading technology and market position, are well-known suppliers around the world.

Although IT Spending in Railways bring a lot of opportunities, the study group recommends the new entrants who just have money but without technical advantage, raw materials advantage and downstream support, do not enter the IT Spending in Railways field hastily.

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