Global Train Collision Avoidance System Market 2019-2023
About this market
Countries across the globe are developing high-speed trains to provide cost-effective and safe transportation. One of the primary factors for this is increase in disposable income among the lower middle-class population across emerging economies. The expanding railway network and incremental use of trains by passengers as the preferred mode of transport boost the demand for high-speed rail. Hence, the initiative toward the development of high-speed rail networks in emerging economies, especially in South Asian countries, is anticipated to increase the demand for train collision avoidance system (TCAS) during the forecast period. Technavio’s analysts have predicted that the train collision avoidance system market will register a CAGR of over 11% by 2023.
Rising need for safety in railways
The rising number of railway accidents and the need for passenger safety across countries are driving the adoption of TCAS. Hence, countries are focusing on implementing TCAS and connected railway systems to reduce or eliminate rail collisions.
High initial capital investment in railways
Lack of funds is a major challenge for the growth of the railway industry. Rail projects are associated with high investments in the initial phase of projects, making them capital intensive in nature. Initial investments are mainly for labor and raw materials such as iron and equipment and machinery.
For the detailed list of factors that will drive and challenge the growth of the train collision avoidance system market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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