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Smart Railway Systems Market size is set to grow by USD 29.78 billion from 2024-2028, Expansion of railways to address efficiency and environmental concerns to boost the market growth, Technavio

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NEW YORK, July 2, 2024 /PRNewswire/ — The global smart railway systems market  size is estimated to grow by USD 29.78 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 15.63%  during the forecast period.  Expansion of railways to address efficiency and environmental concerns is driving market growth, with a trend towards adoption of iot and big data driving efficiency. However, investments in initial infrastructure  poses a challenge. Key market players include ABB Ltd., ALSTOM SA, Atos SE, Capgemini Service SAS, Cisco Systems Inc., Digi International Inc., General Electric Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Indra Sistemas SA, International Business Machines Corp., Mitsubishi Electric Corp., Nokia Corp., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Teleste Corp., Thales Group, Trimble Inc., and ZTE Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Solutions, Components, and Services), Type (Passenger information system, Rail and freight operations management system, Smart ticketing system, Rail analytics system, and Others), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

Region Covered

Europe, North America, APAC, Middle East and Africa, and South America

Key companies profiled

ABB Ltd., ALSTOM SA, Atos SE, Capgemini Service SAS, Cisco Systems Inc., Digi International Inc., General Electric Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Indra Sistemas SA, International Business Machines Corp., Mitsubishi Electric Corp., Nokia Corp., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Teleste Corp., Thales Group, Trimble Inc., and ZTE Corp.

Key Market Trends Fueling Growth

Smart Railway Systems Market: The integration of IoT and big data in railway operations is revolutionizing the industry. Onboard control systems and sensors generate valuable data, which can improve efficiency, reduce downtime, and enhance safety. IoT and big data enable real-time monitoring, predictive maintenance, and energy savings. Cost savings have been reported, with Trenitalia achieving an 8%-10% reduction in maintenance costs. The future of railways lies in leveraging data to optimize operations and enhance passenger experience. 

The Smart Railway Systems market is experiencing significant growth, driven by advancements in technology. Real-time monitoring and ticketing systems are becoming increasingly common. These systems enable passengers to check train schedules, purchase tickets, and receive real-time updates on their devices. Additionally, safety features such as automatic train protection and collision avoidance systems are being implemented to enhance passenger safety. Schdule-based train control and traffic management systems are also being adopted to improve efficiency and reduce delays. The use of biometric technology for passenger identification and security is also on the rise. Overall, the Smart Railway Systems market is transforming the railway industry with its innovative solutions. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The adoption of smart railway systems faces challenges due to the substantial initial investment needed for infrastructure development. This is attributed to the use of advanced technologies and the long payback period for such projects. Government-funded railway projects, particularly those with significant investments, undergo rigorous evaluation. Smaller carriers have found it costly to implement Positive Train Control (PTC) due to high installation and maintenance costs. Technical errors or integration issues can lead to severe consequences, including loss of life and replacement costs, as well as downtime and revenue declines. These factors are expected to hinder the growth of the global smart railway systems market.The Smart Railway Systems Market faces several challenges in implementation and operation. One major challenge is the integration of various technologies such as sensors, communication systems, and software applications. Another challenge is ensuring the reliability and interoperability of these systems in harsh railway environments. Additionally, the high cost of implementation and maintenance is a significant barrier for many railways. Furthermore, the need for standardization and regulation to ensure safety and security is a pressing issue. Lastly, the lack of skilled personnel to design, install, and maintain these systems is a significant challenge for the market. Addressing these challenges will require collaboration between industry players, governments, and academia to develop cost-effective, reliable, and interoperable solutions.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This smart railway systems market report extensively covers market segmentation by

Product 1.1 Solutions1.2 Components1.3 ServicesType 2.1 Passenger information system2.2 Rail and freight operations management system2.3 Smart ticketing system2.4 Rail analytics system2.5 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Solutions-  Smart Railway Systems Market: The components segment is essential for ensuring security and network connectivity in railway systems. Sensors monitor trains and infrastructure, video surveillance cameras ensure security, multimedia displays offer real-time information, and networking devices facilitate smooth data transmission. These devices enhance safety, improve service quality, and drive market growth during the forecast period. Railway operators increasingly use sensors for cost-effective monitoring and safety. Video surveillance cameras ensure public security and employee safety. Multimedia displays provide real-time alerts and entertainment. Networking devices enable machine-to-machine communication and interoperability. Overall, these components are vital for the proper functioning of smart railway systems.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Smart Railway Systems Market encompasses advanced Technology-based Solutions for Rail Analytics, Freight Information, Passenger Information, and Smart Ticketing Systems. These systems facilitate Real-time Data monitoring and analysis, ensuring optimal Passenger capacity and addressing Commuting requirements in the context of Urbanization and Societal changes. Railway technology plays a pivotal role in enhancing Scheduling, Maintenance, and Manual diagnostics through Digitalization and Real-time monitoring. Smart railway components, including High-speed sensors, are integral to Logistical activities and Railway projects, ensuring efficient Train Services and Railway Systems operation.

Learn and explore more about Technavio’s in-depth research reports

The global Facilities Management Market is experiencing significant growth due to the increasing demand for integrated services across various sectors. The market’s expansion is driven by the need for efficient management of facilities and the adoption of advanced technologies. Similarly, the global Industrial HVAC Market is also on an upward trajectory, propelled by rising industrialization and stringent environmental regulations. Innovations in energy-efficient systems are further enhancing market prospects. Both markets are benefiting from the trend towards automation and the emphasis on sustainability, reflecting a broader shift towards more efficient and eco-friendly industrial practices.

Market Research Overview

The Smart Railway Systems Market encompasses advanced technologies and solutions that aim to enhance the efficiency, safety, and passenger experience in railway transportation. These systems leverage technologies such as IoT, RFID, AI, and machine learning to optimize train operations, improve infrastructure management, and provide real-time information to passengers. The market is driven by factors such as increasing urbanization, growing demand for efficient and reliable transportation, and government initiatives to modernize railway infrastructure. Smart railway systems offer benefits like reduced operational costs, improved safety, and enhanced passenger comfort. The market is expected to witness significant growth in the coming years due to these factors and the continuous advancements in technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSolutionsComponentsServicesTypePassenger Information SystemRail And Freight Operations Management SystemSmart Ticketing SystemRail Analytics SystemOthersGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

RedThread Report Reveals 50% Drop in L&D’s Involvement in Strategic Discussions, Offers Framework for Reclaiming Influence

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29 minutes ago

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November 14, 2024

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RedThread Research’s latest report, Hope Isn’t a Plan: Building a Progressive L&D Strategy, highlights a 50% drop in Learning & Development involvement in business strategy discussions over the past two years, signaling a shift from strategic partner to reactive function. The report also provides a comprehensive five-part framework to help L&D leaders articulate their strategy, collaborate effectively across departments, and balance stability with flexibility.

WOODSIDE, Calif., Nov. 14, 2024 /PRNewswire-PRWeb/ — RedThread Research has published its latest report, “Hope Isn’t a Plan: Building a Progressive L&D Strategy,” which underscores the declining strategic role of Learning & Development (L&D) functions and offers a comprehensive framework for leaders seeking to recalibrate their strategies.

“L&D needs to rethink its strategy or risk becoming irrelevant. More than just talking about being strategic, they need to align, act on, and operationalize it. That means doing things differently, thinking more strategically, and embedding learning into the heart of the organization.”

The study reveals a sharp 50% drop in L&D’s involvement in business strategy discussions over the past two years, signaling an alarming shift from strategic partner to reactive supporter. The research also shows that L&D’s involvement in workforce planning discussions similarly declined sharply over this same period.

“L&D needs to reclaim its strategic voice or risk becoming irrelevant,” said Dani Johnson, Co-founder and Principal Analyst at RedThread Research. “More than just talking about being strategic, they need to align, act on, and operationalize it. That means doing things differently, thinking more strategically, and embedding learning into the heart of the organization.”

The report highlights several pressing insights, including:

Declining Strategic Influence: L&D’s diminishing role in strategy discussions has led to a more tactical and reactive function in many organizations.The Importance of Articulating Strategy: Many L&D leaders lack a clearly communicated and well-defined strategy, further compounding their inability to respond effectively to changing business needs.Collaboration as a Cornerstone: Successful employee development requires structured collaboration and cooperation across departments, challenging entrenched mindsets about L&D’s role. L&D functions need a plan for how to best collaborate with other business functions.Balancing Stability with Flexibility: While adaptability is essential, the report argues that stability also forms the foundation for long-term success in L&D efforts.A Five-Part Strategic Framework: The study provides a detailed framework comprising five core elements of an L&D Strategy—Organizational Alignment, Employee Impact, Operations and Governance, Tech and Data, and Stakeholder Engagement.

“Learning and Development can’t afford to play it safe,” added Johnson. “They must be prepared to continually evolve— locking down what works while still flexing to meet what comes next. And they need to double down on strategy to show how that connects back to outcomes — and prove that L&D is not just a cost center but a critical driver of success.”

For access to an infographic of the framework and other exclusive research, navigate to https://members.redthreadresearch.com/spaces/12680089/feed and register for a complimentary Starter Tier membership in the RedThread Research community.

For companies and individuals interested in exploring this research more deeply, RedThread offers exclusive membership opportunities. Join the RedThread research community or the Tech Consortium by visiting the RedThread website (https://www.redthreadresearch.com) or reaching out to RedThread by emailing hello@redthreadresearch.com. 

About RedThread Research

At RedThread Research, we get it.

Sure, we’re experts in performance, people analytics, learning, and D&I – and we’re well-versed in the technologies that support them. But we’re also truth-seekers and storytellers in an industry often short on substance, and too full of #!%. Our mission (indeed, our very reason for existing) is to cut through the noise, and amplify what’s good. We look for the connections (or red threads) between people, data, and ideas – even among seemingly unrelated concepts. The result is high-quality, unbiased, transformative foresight that helps you build a stronger business.

To learn more, visit https://www.redthreadresearch.com.

Heather Gilmartin
RedThread Research
646-275-0742
heathergilmartin@redthreadresearch.com

Media Contact

Heather Gilmartin Adams, RedThreadResearch, 6462750742, heathergilmartin@redthreadresearch.com, https://redthreadresearch.com/

View original content:https://www.prweb.com/releases/redthread-report-reveals-50-drop-in-lds-involvement-in-strategic-discussions-offers-framework-for-reclaiming-influence-302306028.html

SOURCE RedThreadResearch; RedThreadResearch

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SONOR INVESTMENTS LIMITED APPOINTS NEW INTERIM CHIEF FINANCIAL OFFICER AND TREASURER

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29 minutes ago

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November 14, 2024

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TORONTO, Nov. 14, 2024 /CNW/ – Sonor Investments Limited (“Sonor”) announced today that Fanny Chantal Grenier was appointed Treasurer and Chief Financial Officer of Sonor effective November 12, 2024 to replace Rosabell Chung Hun who resigned from this position as of such date.

Michael Gardiner, Chairman and Chief Executive Officer of Sonor, stated “we would like to express our gratitude for Rosabell Chung Hun’s significant contributions and dedication to our company”. He went on to say “for the immediate future, Fanny Chantal Grenier is to be appointed as the interim Chief Financial Officer  and Treasurer of the company until we have a permanent replacement. We are in the process of examining our human resources plan that will be discussed and presented at our next board meeting”.

Ms. Grenier presently holds the position of President of Fairwater Capital Corporation, is a qualified CA CPA and brings extensive experience in financial leadership. She has a proven track record in advancing fiscal responsibility and operational efficiency.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE Sonor Investments Limited

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Odyssey Impact’s New Grant Opportunity: $2,500 – $25,000 for Local Nonprofits — But Don’t Bother If You JUST Want to Raise Awareness

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29 minutes ago

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November 14, 2024

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Odyssey Impact is awarding grants ranging from $2,500 to $25,000 to nonprofits (or those with a verified nonprofit fiscal sponsor) with creative and unique ideas for tackling local challenges and bringing people together in person. The Connected Communities Grants are simple and streamlined… no epic application process and no weeks-long recap reports. The grants were created to help bring about impactful and meaningful change that connects and strengthens local communities. The deadline to apply is December 11, 2024 and winners will be announced in January 2025.

NEW YORK, Nov. 14, 2024 /PRNewswire-PRWeb/ — If you’re tired of JUST TALKING ABOUT A PROBLEM, WE’RE WITH YOU. WE WANT TO FIND SOLUTIONS. And if you’re also tired of filling out long applications, running “awareness” campaigns, or spending weeks cobbling together post-grant reports, Odyssey Impact® has some great news for you.

Through the simple and streamlined Connected Communities Grants, Odyssey Impact® is offering up to $25,000 to nonprofits (or those with a verified nonprofit fiscal sponsor) who want to help solve problems in their communities and bring people together in person.

We’re ditching all that in our new SIMPLE AND STREAMLINED Connected Communities Grants, offering up to $25,000 to nonprofits (or those with a verified nonprofit fiscal sponsor) who want to help SOLVE PROBLEMS in their communities.

Grants will range from $2,500 to $25,000 for applicants with CREATIVE and UNIQUE ideas for tackling local challenges and bringing people together IN PERSON. You know what your town needs and we want to help you make it happen.

Our Mandate is Simple: We want creative ways to help connect people in real-time, in meaningful ways.

Odyssey Impact Board President, Riaz Patel, and co-founder of ConnectEffect, underscores the critical importance of real, in-person connection:

“We’re facing an unprecedented epidemic of isolation, alienation, and loneliness. We don’t need more awareness or research to know it’s a massive problem. We need bold, innovative solutions from creative thinkers to reignite a sense of community across America.”

Interested in applying? Awesome! But here’s what we don’t want:

We’re not looking for “scalable” projects. We ARE looking for local and connected.No “awareness campaigns.” We want to help you take real action instead.No “virtual” events. We are funding in-person, live human stuff.Skip the epic applications. We don’t have the time for those either.No weeks-long recap reports. We’d rather see your great pics and videos.No galas, golf tournaments, or fundraisers. We want project- and program-focused ideas.

Got something cool and community-focused in mind? Perfect! We want unique ideas that make sense for your community, and we want you to spell it out clearly (without all the fluff) — how your project will connect people, foster innovation, and bring the community together.

We need this now more than ever, and if you agree, you are our kind of grantee applicant.

You can apply now through December 11th at odyssey-impact.org,

Winners will be announced in January 2025.

Together, we can truly create impactful and meaningful change that connects and strengthens our local communities.

About Odyssey Impact®

Odyssey Impact® ignites creative, actionable solutions that drive real transformation and connection at the local level. By teaming up with innovative community leaders and those who care about their communities, we’re funding projects that are not only visionary, but also perfectly tailored to meet each community’s unique needs.

Through these efforts, Odyssey Impact is laying the groundwork for a future where real community-driven initiatives create much-needed impact & change and bring us all closer together.

Media Contact

Erin Carenzo, Odyssey Impact, 1 8183817336, erin@carenzoagency.com, https://odyssey-impact.org/

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SOURCE Odyssey Impact; Odyssey Impact

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