Global Energy Management Market in Railways 2016-2020
About Energy Management Market in Railways
An energy management system (EMS) consists of hardware, software, and services that provide energy information to users such as infrastructure managers, financial managers, facility managers, and power utilities. It is also a systematic process, which is used for continual improvement of energy performance. Consumers spend an enormous amount of their budgets on energy. This cost can be reduced with the use of improved energy management solutions. Thus, to improve managing and tracking of energy data, EMS is used.
Technavio’s analysts forecast the global energy management market to grow at a CAGR of 12.4% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global energy management in railways market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Energy Management Market in Railways 2016-2020
Technavio recognizes the following companies as the key players in the Global Energy Management Market in Railways: Alstom, Bombardier, Hitachi Railway, and Toshiba.
Other Prominent Vendors in the market are: ABB, China CNR, Cisco Systems, IBM, Mitsubishi Electric, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “The increase in investment in rail infrastructure projects drives the growth of the market, as a part of these investments will go into energy management. The rail infrastructure projects are comprised primarily of enhancements of the existing rail management system, improvement of rail tracks and building new lanes, technological development of rail control and signaling services, and building of high-speed trains and wagons.”
According to the report, since many railway companies across the world are adopting energy management systems and increasing the level of automation for the efficient management of railway infrastructures, the market for energy management in railways will grow rapidly during the forecast period.
Further, the report states that the private sector participation in the railway in developing countries such as India is still lacking. Due to this, the adoption of new technologies is slower. Fuel efficiency and power supply management can still be improved by encouraging private partnership in this market to foster better investments and technologies.
Alstom, Bombardier, Hitachi Railway, Toshiba, ABB, China CNR, Cisco Systems, IBM, Mitsubishi Electric, Siemens.