Smart Railway Systems Market Size To Grow By Usd 20,129.36 Million Between 2022 And 2027; Adoption Of Iot And Big Data To Drive Efficiency To Be A Key Trend

Technavio has been monitoring the smart railway systems market, and it is expected to grow by USD 20,129.36 million between 2022 and 2027. The market will progress at a CAGR of 12.59% during the forecast period. The key trend in the market is the adoption of IoT and big data driving efficiency. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The expansion of railways to address efficiency and environmental concerns is also driving the growth of the market.