Intelligent Railways Transportation Management Systems Market Trends 2023 The year 2022 saw the rail industry gradually get back on track post-COVID-19 impact. For instance, according to the Department for Transport (DfT), ridership reached as high as 95% of pre-COVID-19 levels in the United Kingdom. However, 2023 is gearing up for staff shortages & strikes, evolving passenger demands, and the growing effects of climate change. The global rail industry is thus rapidly enhancing its digital capabilities through partnerships with startups and specialized tech providers. This further influences the global intelligent railways transportation management systems market growth, slated to grow at a CAGR of 11.90% during 2023-2032, and generate a revenue of $109.25 billion by 2032.
Accordingly, this blog focuses on the global rail technology trends imminent and beyond 2023.
IRTMS Market: Key Trends 2023
Sustainability served on High-Speed Wheels
A recent study has revealed that investing in comprehensive high-speed rail networks will be the key to substantially minimizing the environmental footprint of passenger transport in Europe. High-speed rail (HSR) is evaluated to offer tangible advantages over other transport modes for medium to long-distance journeys. It facilitates a shift from traditional air and road transport for lengthy journeys, reducing congestion and associated pollution. It operates on the electrified network and thus benefits from the 'greening' of the energy supply sector. Its main power supply is electricity from renewable sources without having to develop new and specific technologies. This is a competitive advantage for high-speed rail (HSR) since road transport and aviation are highly dependent on fossil fuels. For instance, as per The Geography of Transport Systems, road