• • • RAIL INDUSTRY • • •
connectivity, passenger infotainment, smart ticketing and freight tracking. Such technological advancements targeted toward the enhancement of the rail passenger experience are a major factor driving the growth of the market. Additionally, factors such as the adoption of lot as well as automation technologies to enhance optimisation and government initiatives for smart cities and public-private partnership (PPP) working models are spurring the adoption of smart railways solutions and services. However, the high initial cost of deployment and the lack of technology infrastructure and interoperability are two major restraining factors for the growth of the smart railways market. Semi-autonomous and autonomous train technologies are witnessing rapid evolution, with substantial technological advancements. Autonomous trains drive themselves with minimal or no human intervention. The trend for developing driverless vehicles can be observed throughout the transportation industry. Though the large-scale adoption of autonomous trains would take significant time, several railway operators are expected to adopt semi-autonomous trains in the future. The deployment of autonomous trains is crucial for the growth of the smart railways industry, as these vehicles will result in cost reduction for mobility service providers. Some of the players in the smart railways market are already working in this direction. For instance, in May 2018, Thales acquired Driver Advisory Systems (DAS), which is expected
to help it in the development of autonomous trains. The development of autonomous trains represents a significant opportunity in the smart railways market. On the other hand, smart railways solution providers face the integration complexities of legacy systems and networks; this acts as a challenge for the growth of the smart railways market. The COVID-19 pandemic significantly impacted
rail operations in 2020, wherein rail services were stalled for a quarter in many countries, and several other countries have resumed rail
operations with limited trains on track. While some countries have incurred severe losses, some countries have engaged in the total revamp of rail infrastructure and construction of new tracks and freight corridors during the imposed lockdown. The impact of COVID-19 has been severe on the market in 2020; however, the market is expected to bounce back in 2021. Remote monitoring and predictive maintenance technologies would be required as the out-of-operations rolling stock would need proper maintenance.
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